In auditing a client’s inventory, the auditors must be
concerned with the detection of goods that are both damaged and
obsolete.
Why are the auditors concerned with detecting damaged and
obsolete goods?
How do the auditors test for obsolete goods in the client’s
inventory?
Luangwa, a public limited company, is assessing the accounting
treatment of the following transaction for the year ended 31 May
2016.
On 1 June 2014, Luangwa had granted share appreciation rights to
200 senior executives. Each executive will receive 2,000 rights on
31 May 2017 provided he or she continues to be employed by Luangwa
at that date. On 1 June 2014, the directors estimated that all the
executives would remain employed by Luangwa for the three-year
period ending on...
What is the accrual basis of accounting? When should revenue and
expense be recognized in the accrual basis? Provide an example.
PLEASE IN YOUR OWN WORDS.
thx.
What must you consider when providing information to clients?(in
the context of accounting environment when consulting with clients
regarding their company taxation etc) Discuss in 120–150
words.(Please type up your answer)
discuss and explain the criteria and accounting treatment for
recognizing and measurement of research and development
expenditures in the financial statements as outlined in IAS-38
Intangible Assets.