in professions define what is the ethical behavior for its members. The ethical decision process help accountants to overcome ethical dilemmas and make the right choice which will benefit to the public or other users that depend on the accounting report (Wikipedia, 2016). There are five steps that professional accountants can take in making ethical decision process, which are to define all facts and circumstances, identify stakeholders, identify stakeholders’ rights and obligations in general…
Rohit Muthuvel 14/10/2015 212033536 AP/ADMS 2500 F Section A Annual Report Analysis of Cogeco Cable Inc. (for the year ended Aug 2014) Cogeco Cable Inc. is a large telecommunications company operating in Quebec and Ontario under the name Cogeco Cable Canada and in many parts in the United States under the Atlantic Broadband name such…
increasingly important role when it audits and reports different financial aspects about a company, which includes but not limits to a company’s balance sheet, cash flows, and incomes. The final accounting statements, which will be sent to the clients and sometimes to other stakeholders, will give not only clients but also outsiders a general overview of a company’s financial situation. Investors and cooperators who observe a company merely through its financial reports are insufficient,…
provide honest and accurate information to Deloitte for auditing purposes. It is important the organization sincere public disclosure of all information regarding the last seven fiscal years. This information is pertinent to the accuracy of the auditor’s report. Accuracy will enable the Phoenix Suns organization to operate its business…
Worksheet for You Decide Name: Course Code Acct555 Grade ___/ Date: February 13, 2013 Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: The SEC does have substantial influence on the audit of the company, by the auditing firm Keller CPAs. The influence can be observed in the audit standards that have to be followed in establishing the independence of auditors involved in the audit of the Company. Independence is one…
1. Incentive and pressure to perpetrate fraud existed in the VBSD’s management. Every year, the school got limited aid to provide educational service and they also needed to report their performance to the School Board members so they get the pressure to perform well in order to get aid. Within the budget restriction, they may not able to perform the projects that could improve the school performance. Therefore, the Superintendent intentionally committed fraud by executing the unbudgeted project…
Authorization to reports o By having authorization to reports, limits to access of computerized information by users can be controlled.…
[7] Assume that a close family member came to you with information about a potential fraud at his or her employer. Prepare a summary of the advice you would offer as he or she considers taking the information forward. Before advising information about a potential fraud, it is important for the individual to have an understanding of the facts giving rise to concern. Because understanding of the facts, it helps to avoid prematurely filing a complaint that may be based of perception or emotion.…
“Office” line item of certain cash report sheets by inquiring the company’s personnel and the management. Similarly, the auditor could also use analytical procedures to gain an overall assessment of sales and profitability across individual stores. Because the cash receipt was taken into consideration in determining sales and profitability of stores affected by the embezzlement, stores that consistently exhibit relatively lower sales and profitability may raise auditor’s eyebrows. Additionally,…
Hirschey(2009) explains the law of diminishing returns “As the quantity of a variable input increases, with the quantities of all other factors being held constant, the resulting increase in output eventually diminishes (Hirschey, 2009, pg.253). This is illustrated within the table, as it is seen that at a certain point, paying an additional employees, reduces output. Milestone IV Market Structure Deloitte operates in an oligopolistic market structure. In Fundamentals of Managerial Economics,…