Homework Answers
(1) Shareholders
Questions that can be asked-:
1) Is the company dividend policy fair?
2) What is the profitability status of the company?
3) Is the company valuation fair?
(2) Employees
1) How well the company is doing with the implication of job security?
2) Is the comapny compensation plan (401K) fair?
3) Is there a company Employee Stock Option?
(3) Internal Auditors
1) Are the controls accurate as per the guidelines in SOX ?
2) Does the company have a robust chain of command?
3) Is there a possibility of fraud?
Add Answer to:
QUESTION 1 Identify 3 INTERNAL users of financial Information/statements and list 3 questions per each that...
QUESTION 2 Identify 3 EXTERNAL users of financial information/statements and list 3 questions per each of...
QUESTION 2 Identify 3 EXTERNAL users of financial information/statements and list 3 questions per each of these they might ask the company? TTT Arial 3 (12pt) • T Three external users of financial information/statements are
E1-13A ydentify users of accounting information (Learning Objective 3) ach of the following users of financial...
E1-13A ydentify users of accounting information (Learning Objective 3) ach of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both 1. Reporter from The Wall Street Journal 2. Regional division managers M 3. Potential investors F A 4. Bookkeeping Department 5. Manager of the Service Department 6. Wall Street analyst 7. Division controller 8. State tax agency auditor 9, External auditor (public...
Question 1 The following is a list of users of accounting information: a) Managers b) Regulators...
Question 1 The following is a list of users of accounting information: a) Managers b) Regulators c) Employees d) Shareholders e) Lenders f) Suppliers g) External auditors Instructions Identify the above users as internal (1) or external (E) using the following format: _(a) Managers (b) Regulators (c) External auditors (d) Shareholders (e) Lenders _(f) Suppliers Question 2 Each of the following independent situations represents a violation of accounting principles: circle the principle that is violated. 1. It is now the...
Required information [The following information applies to the questions displayed below.) 0.5 Section 301 of the...
Required information [The following information applies to the questions displayed below.) 0.5 Section 301 of the Sarbanes-Oxley Act requires that public companies have an audit committee. Independent auditors are increasingly involved with audit committees. points c. Select all of the following that are functions of the audit committee: (Select all that apply.) eBook Ask Check All That Apply Print Selection of the independent auditor, discussion of audit fee with the auditor, and review of the auditor's engagement letter. References Review...
[The following information applies to the questions displayed below.) Target Corporation prepares its financial statements according...
[The following information applies to the questions displayed below.) Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com). Target Case (Static) Parts 1 to 4 Required: 1. By what name does Target label its balance sheet? 2. What amounts did Target report for the following items on February...
JANUARY 2019. QUESTIONS Urban plc, a company that prepares its a company that prepares its financial statements to 3...
JANUARY 2019. QUESTIONS Urban plc, a company that prepares its a company that prepares its financial statements to 31 December cach year involved in the construction and repair of city centre student accommod e r of inancial statements for the year ended 31 December 2018 can be finalised, outstanding issues need to be resolved. outstanding icments for them and repair of ancial staten need to be resor ended 31 Decennice stude ntre student accommodation. Before the succesusly and Urbcontract. The...
You are internal auditor for Shannon Supplies, Inc., and are reviewing the company's preliminary financial statements....
You are internal auditor for Shannon Supplies, Inc., and are reviewing the company's preliminary financial statements. The statements, prepared after making the adjusting entries, but before closing entries for the year ended December 31, 2018, are as follows: SHANNON SUPPLIES, INC. Balance Sheet December 31, 2018 ($ in 000s) Assets Cash Investments Accounts receivable, net Inventory Property, plant, and equipment Less: Accumulated depreciation Total assets Liabilities and shareholders' Equity Accounts payable and accrued expenses Income tax payable Common stock, $1...
L o questions Question 3 Statements ents of Financial Position as at 31 December 2016 Gary...
L o questions Question 3 Statements ents of Financial Position as at 31 December 2016 Gary Ltd €'000 Paul Ltd €000 Assets Non-current Assets Property, plant and equipment Investments in Paul Ltd €'000 €'000 1,305 5,670 2,160 7,830 1,305 2,160 1,555 1,080 765 745 405 4.795 Current Assets Inventories Trade receivables Cash and cash equivalents Total Assets Equity and Liabilities Capital and Reserves Ordinary share capital Retained earnings 12,625 6,300 2,275 8,575 1.800 565 2,365 1,080 Non-current Liabilities Debenture loans...
Question 3 Understanding and Assessing Control Risks (Total 20
Question 3 Understanding and Assessing Control Risks (Total 20 marks) Assessing Control Risks Quality Furniture NZ Ltd revealed the following through the enquiries and observations associated with understanding internal controls. The managing director Michael Jones has always placed a premium on the values of integrity and ethics. For years, business has been conducted on a handshake, and commitments made by the company were always honoured. Integrity and ethics are also valued in employees, and this quality has been evidenced in...
You are internal auditor for Shannon Supplies, Inc., and are reviewing the company’s preliminary financial statements....
You are internal auditor for Shannon Supplies, Inc., and are
reviewing the company’s preliminary financial statements. The
statements, prepared after making the adjusting entries, but before
closing entries for the year ended December 31, 2018, are as
follows:
SHANNON SUPPLIES, INC.
Balance Sheet
December 31, 2018
($ in 000s)
Assets
Cash
$
2,370
Investments
235
Accounts receivable, net
780
Inventory
1,030
Property, plant, and equipment
1,210
Less: Accumulated depreciation
(590
)
Total assets
$
5,035
Liabilities and Shareholders’ Equity
Accounts...
QUESTION 2 Identify 3 EXTERNAL users of financial information/statements and list 3 questions per each of these they might ask the company? TTT Arial 3 (12pt) • T Three external users of financial information/statements are
E1-13A ydentify users of accounting information (Learning Objective 3) ach of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both 1. Reporter from The Wall Street Journal 2. Regional division managers M 3. Potential investors F A 4. Bookkeeping Department 5. Manager of the Service Department 6. Wall Street analyst 7. Division controller 8. State tax agency auditor 9, External auditor (public...
Question 1 The following is a list of users of accounting information: a) Managers b) Regulators c) Employees d) Shareholders e) Lenders f) Suppliers g) External auditors Instructions Identify the above users as internal (1) or external (E) using the following format: _(a) Managers (b) Regulators (c) External auditors (d) Shareholders (e) Lenders _(f) Suppliers Question 2 Each of the following independent situations represents a violation of accounting principles: circle the principle that is violated. 1. It is now the...
Required information [The following information applies to the questions displayed below.) 0.5 Section 301 of the Sarbanes-Oxley Act requires that public companies have an audit committee. Independent auditors are increasingly involved with audit committees. points c. Select all of the following that are functions of the audit committee: (Select all that apply.) eBook Ask Check All That Apply Print Selection of the independent auditor, discussion of audit fee with the auditor, and review of the auditor's engagement letter. References Review...
[The following information applies to the questions displayed below.) Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com). Target Case (Static) Parts 1 to 4 Required: 1. By what name does Target label its balance sheet? 2. What amounts did Target report for the following items on February...
JANUARY 2019. QUESTIONS Urban plc, a company that prepares its a company that prepares its financial statements to 31 December cach year involved in the construction and repair of city centre student accommod e r of inancial statements for the year ended 31 December 2018 can be finalised, outstanding issues need to be resolved. outstanding icments for them and repair of ancial staten need to be resor ended 31 Decennice stude ntre student accommodation. Before the succesusly and Urbcontract. The...
You are internal auditor for Shannon Supplies, Inc., and are reviewing the company's preliminary financial statements. The statements, prepared after making the adjusting entries, but before closing entries for the year ended December 31, 2018, are as follows: SHANNON SUPPLIES, INC. Balance Sheet December 31, 2018 ($ in 000s) Assets Cash Investments Accounts receivable, net Inventory Property, plant, and equipment Less: Accumulated depreciation Total assets Liabilities and shareholders' Equity Accounts payable and accrued expenses Income tax payable Common stock, $1...
L o questions Question 3 Statements ents of Financial Position as at 31 December 2016 Gary Ltd €'000 Paul Ltd €000 Assets Non-current Assets Property, plant and equipment Investments in Paul Ltd €'000 €'000 1,305 5,670 2,160 7,830 1,305 2,160 1,555 1,080 765 745 405 4.795 Current Assets Inventories Trade receivables Cash and cash equivalents Total Assets Equity and Liabilities Capital and Reserves Ordinary share capital Retained earnings 12,625 6,300 2,275 8,575 1.800 565 2,365 1,080 Non-current Liabilities Debenture loans...
You are internal auditor for Shannon Supplies, Inc., and are
reviewing the company’s preliminary financial statements. The
statements, prepared after making the adjusting entries, but before
closing entries for the year ended December 31, 2018, are as
follows:
SHANNON SUPPLIES, INC.
Balance Sheet
December 31, 2018
($ in 000s)
Assets
Cash
$
2,370
Investments
235
Accounts receivable, net
780
Inventory
1,030
Property, plant, and equipment
1,210
Less: Accumulated depreciation
(590
)
Total assets
$
5,035
Liabilities and Shareholders’ Equity
Accounts...
Most questions answered within 3 hours.
-
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 1 minute ago -
For the assignment this week, use Microsoft Word or Microsoft
Excel to create your own Comparing...
asked 4 seconds from now -
Pratt Company acquired all of Spider, Inc.’s outstanding shares
on December 31, 2018, for $510,100 cash....
asked 1 minute ago -
A
firm purchased telephone equipment for cash. By mistake, the person
who recorded the transaction debited...
asked 23 minutes ago -
Sodium carbonate is added to the tea mixture, in part, to form
the sodium salt of...
asked 2 minutes ago -
Discuss the similarities and differences between static and
flexible Budgeting and Capital budgeting. · Why is...
asked 13 minutes ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 4 minutes ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 6 minutes ago -
With the demand for more nutritional food options growing,
Nutriment Biotech is positioned to become a...
asked 27 minutes ago -
A sample of hydrogen gas collected at a
pressure of 1.41 atm and a temperature of...
asked 23 minutes ago -
Clark Heter is an industrial engineer at Lyons Products. He
would like to determine whether there...
asked 21 minutes ago -
he plant started to purify its wastewater before discharging it
into the lake. How long will...
asked 21 minutes ago