3- Explain in detail the inherent risks factors are involved while assessing the risks for the...
3- Explain in detail the inherent risks factors are involved while assessing the risks for the intangible assets?
4- The testing of hierarchy is considered to be more effective and more efficient. Why?
5- Contrast reliance strategy VS substantive strategy?
Homework Answers
3. Intangible assets are non-physical assets which adds to a value to the business. Example: patents, copyrights, goodwill.
Inherent risks factors involved while assessing the risks for intangible assets are:
- Most companies leaks the valuable and confidential information about the intangible assets through their customers,suppliers. This endangers the company's profit margin in the long run.
- The technological advancements affects the product under constant development.
- The majority of the companies are not able to prove that they own intangible assets.
5. Reliance strategy is the amalgamation of a group of business intermediaries, financial planners to help owners and buyers.
Substansive strategy means the auditor will conduct the auditing of financial statements directly and not relying on entity's controls.
Add Answer to:
3- Explain in detail the inherent risks factors are involved
while assessing the risks for the...
Auditing course: a- Describe in detail the substantive analytical procedures that can be used in auditing...
Auditing course: a- Describe in detail the substantive analytical procedures that can be used in auditing the revenue? b-The testing of the hierarchy is considered to be more effective and more efficient. Why?
Question 3 Understanding and Assessing Control Risks (Total 20
Question 3 Understanding and Assessing Control Risks (Total 20 marks) Assessing Control Risks Quality Furniture NZ Ltd revealed the following through the enquiries and observations associated with understanding internal controls. The managing director Michael Jones has always placed a premium on the values of integrity and ethics. For years, business has been conducted on a handshake, and commitments made by the company were always honoured. Integrity and ethics are also valued in employees, and this quality has been evidenced in...
Which of the six risks should be considered a significant risk? Explain why they represent a...
Which of the six risks should be considered a significant risk? Explain why they represent a significant risk. For each risk that you identified as a significant risk, describe how you might address the risk to give it special audit consideration. For example, a valuation risk might be addressed by engaging a valuation specialist. Begin by determining which of the six risks should be considered a significant risk. Then, for each risk that has been identified as a significant risk,...
Explain Convection 1. Describe the factors that affect the value of the convection coefficient 2. Explain why and how velocity and thermal boundary layers form 3. Explain how turbulence enhances c...
Explain
Convection 1. Describe the factors that affect the value of the convection coefficient 2. Explain why and how velocity and thermal boundary layers form 3. Explain how turbulence enhances convection heat transfer 4. Describe the significance of the Reynold's number, Nusselt number, and the Prandtl number 5. List common situations where external convection occurs 6. Explain the importance of the film temperature and use it to specify thermophysical properties of a fluid 7. Explain the significance of boundary layer...
Questions: 1. Define TBI. 2. Explain the epidemiology of TBL 3. Identify the risk factors and...
Questions: 1. Define TBI. 2. Explain the epidemiology of TBL 3. Identify the risk factors and causes of TBI. 4. Compare and contrast the mechanisms of TBI. 5. Distinguish the types of injury in TBI. 6. Discuss the classification and continuum of severity of TBI. 7. Prioritize the types of altered level of consciousness and identify assessment tools. 8. Relate early onset and ongoing complications of TBI. 9. Identify the members of the TBi rehabilitation team and their roles. 10....
i need help with #5 Favorites say Questions (20 points each - Explain in detail) What...
i need help with #5
Favorites say Questions (20 points each - Explain in detail) What are the differences between futures and forward markets in terms of counterparty credit risk (3pts). contract delivery expected (3pts), timing flexibility (3pts), regulation (3pts), liquidity requirements (3pts), and capital requirem Explain in details. 2. Should a corporation hedge? Why might it increase firm value? Are there any reasons why a firm would not want to he Explain in details. 3. In class we discuss...
Chapters 5 - Critical Thinking and Discussion Questions 1. While the surface of the Earth has...
Chapters 5 - Critical Thinking and Discussion Questions 1. While the surface of the Earth has grown warmer in recent years, temperatures in the upper atmosphere have actually gotten cooler. Some people say this means that the global warning is a myth. What would you say? 2. Do you think your carbon footprint has increased or decreased in the last year or so, and why? 3. Which do you thin is more effective strategy for lowering carbon dioxide emissions: a...
Please list 5 inherent risk related items the assignment requires to list 5 inherent risks from...
Please list 5 inherent risk related items
the
assignment requires to list 5 inherent risks from the description
of the company that an auditor may take when deciding to accept
this new client.
Emphasis Heading 1 Heading 2 Heading 3 Heading 4 Description of Southwest Appliance, Inc. History and Corporate Structure Southwest Appliances, Inc. specializes in supplying a relatively small line of high-quality household appliances to residential construction contractors in a large and growing metropolitan area. Southwest has a large...
5. How is materiality (or immateriality) related to the proper presentation of financial statements? What factors...
5. How is materiality (or immateriality) related to the proper presentation of financial statements? What factors and measures should be considered in assessing the material- ity of a misstatement in the presentation of a financial statement? 6. What are the enhancing qualities of the qualitative charac- teristics? What is the role of enhancing qualities in the conceptual framework? 7. According to the FASB conceptual framework, the objec- tive of financial reporting for business enterprises is based on the needs of...
Please select True or false and explain why true or false 1. Game theory is a...
Please select True or false and explain why true or false 1. Game theory is a useful tool only if every player has a “dominant strategy.” 2. Some technologies are characterized for using factors of production in fixed proportions. However, this cannot be captured by a Cobb Douglas production function. 3. A backward bending supply curve will generate two equilibria; one of them will be stable, while the other one will be unstable. 4. In a game, if both players...
Explain
Convection 1. Describe the factors that affect the value of the convection coefficient 2. Explain why and how velocity and thermal boundary layers form 3. Explain how turbulence enhances convection heat transfer 4. Describe the significance of the Reynold's number, Nusselt number, and the Prandtl number 5. List common situations where external convection occurs 6. Explain the importance of the film temperature and use it to specify thermophysical properties of a fluid 7. Explain the significance of boundary layer...
Questions: 1. Define TBI. 2. Explain the epidemiology of TBL 3. Identify the risk factors and causes of TBI. 4. Compare and contrast the mechanisms of TBI. 5. Distinguish the types of injury in TBI. 6. Discuss the classification and continuum of severity of TBI. 7. Prioritize the types of altered level of consciousness and identify assessment tools. 8. Relate early onset and ongoing complications of TBI. 9. Identify the members of the TBi rehabilitation team and their roles. 10....
i need help with #5
Favorites say Questions (20 points each - Explain in detail) What are the differences between futures and forward markets in terms of counterparty credit risk (3pts). contract delivery expected (3pts), timing flexibility (3pts), regulation (3pts), liquidity requirements (3pts), and capital requirem Explain in details. 2. Should a corporation hedge? Why might it increase firm value? Are there any reasons why a firm would not want to he Explain in details. 3. In class we discuss...
Please list 5 inherent risk related items
the
assignment requires to list 5 inherent risks from the description
of the company that an auditor may take when deciding to accept
this new client.
Emphasis Heading 1 Heading 2 Heading 3 Heading 4 Description of Southwest Appliance, Inc. History and Corporate Structure Southwest Appliances, Inc. specializes in supplying a relatively small line of high-quality household appliances to residential construction contractors in a large and growing metropolitan area. Southwest has a large...
5. How is materiality (or immateriality) related to the proper presentation of financial statements? What factors and measures should be considered in assessing the material- ity of a misstatement in the presentation of a financial statement? 6. What are the enhancing qualities of the qualitative charac- teristics? What is the role of enhancing qualities in the conceptual framework? 7. According to the FASB conceptual framework, the objec- tive of financial reporting for business enterprises is based on the needs of...
Most questions answered within 3 hours.
-
A proton travels through uniform magnetic and electric fields.
The magnetic field is in the negative...
asked 6 seconds from now -
In a closed resonance tube resonance occurs at odd multiples of
quarter wavelengths. What is the...
asked 4 minutes ago -
Discuss "Radical Reactions in Alkanes" giving one example. Your
explanation should include relevant mechanisms and reference...
asked 13 minutes ago -
What is the difference between a doubly and singly
linked list and what would this code...
asked 20 minutes ago -
Two light sources are used in a photoelectric experiment to
determine the work function for a...
asked 28 minutes ago -
What are the possible consequences of China's
continuing control of access to the internet?
asked 33 minutes ago -
An apple at 30°C with average mass of 0.2 kg and average
specific heat of 3.65...
asked 34 minutes ago -
What is the Account Receivable cycle in details? please
provide the link of the book or...
asked 41 minutes ago -
A retired couple supplement their income by making fruit pies,
which they sell to a local...
asked 44 minutes ago -
Needing some help on the below:
I believe that the proportion of people who live in...
asked 48 minutes ago -
Gorillas can travel great distances to forage and their ranges
are large enough that they do...
asked 50 minutes ago -
A portfolio consists of $15,400 in Stock M and $23,900 invested
in Stock N. The expected...
asked 1 hour ago