In: Finance
Consider each of the following independent situations which have come to your attention. In each of the following independent and material situations assume that the client is a reporting entity and that a general-purpose financial report has been prepared and audited: Event 1: Part of Steel Limited's operations are in South America. Recent changes of government have made it impossible for you to verify the key accounts of inventory, fixed assets and cash and related income statement balances. (2.5 marks) (50 -80 words) Event 2: The management of Surf Limited's has refused to disclose a few, director related transactions on the grounds of commercial confidentiality. The financial controller reminds you that no other errors have been found in the financial report and states that the transactions are immaterial and therefore irrelevant to the users of the financial report. (2.5 marks) (50 -80 words) Event 3: The annual report of Ranger Limited includes a detailed graph showing revenue for the last 10 years. You note that there are some inconsistencies between the graph and the figures in the audited financial report. Management does not want to change the graph because it would involve increased printing costs. (50 -80 words) Event 4: Upon review of the recent history of their specialised mining equipment Minco Limited changed the service lives for depreciation purposes on this equipment from five years to three years. This change resulted in a material amount of additional depreciation. (50 -80 words) Required: For all the above separate circumstances, identify the type of audit opinion that should be issued and justify your response. Write your answer in the formatted following the table below:
In: Accounting
Question 6 - Week 11 Consider each of the following independent situations which have come to your attention. In each of the following independent and material situations assume that the client is a reporting entity and that a general-purpose financial report has been prepared and audited: Event 1: Part of Steel Limited's operations are in South America. Recent changes of government have made it impossible for you to verify the key accounts of inventory, fixed assets and cash and related income statement balances. (2.5 marks) (50 -80 words) Event 2: The management of Surf Limited's has refused to disclose a few, director related transactions on the grounds of commercial confidentiality. The financial controller reminds you that no other errors have been found in the financial report and states that the transactions are immaterial and therefore irrelevant to the users of the financial report. (2.5 marks) (50 -80 words) Event 3: The annual report of Ranger Limited includes a detailed graph showing revenue for the last 10 years. You note that there are some inconsistencies between the graph and the figures in the audited financial report. Management does not want to change the graph because it would involve increased printing costs. (50 -80 words) Event 4: Upon review of the recent history of their specialised mining equipment Minco Limited changed the service lives for depreciation purposes on this equipment from five years to three years. This change resulted in a material amount of additional depreciation. (50 -80 words) Required: For all the above separate circumstances, identify the type of audit opinion that should be issued and justify your response. Write your answer in the formatted following the table below:
| client | audit opinion | justification |
please provide reference also
In: Accounting
Chapter 4, Section 3, Exercise 116 Lizards and Invasive Fire Ants This exercise addresses lizard behavior in response to fire ants. The red imported fire ant, Solenopsis invicta, is native to South America, but has an expansive invasive range, including much of the southern United States (invasion of this ant is predicted to go global). In the United States, these ants occupy similar habitats as fence lizards. The ants eat the lizards and the lizards eat the ants, and in either scenario the venom from the fire ant can be fatal to the lizard. A study explored the question of whether lizards learn to adapt their behavior if their environment has been invaded by fire ants. The researchers selected lizards from an uninvaded habitat (eastern Arkansas) and lizards from an invaded habitat (southern Alabama, which has been invaded for more than 70 years) and exposed them to fire ants. They measured how long it takes each lizard to flee and the number of twitches each lizard does. The data are stored in FireAnts. If lizards adapt their behavior to the fire ants, then lizards from the invaded habitats should flee from the fire ants faster than lizards from the uninvaded habitats. Test this hypothesis. Time to flee is measured in seconds, and lizards taking more than a minute to flee have recorded responses of 61 seconds. Let group 1 be lizards from invaded habitats and let group 2 be lizards from uninvaded habitats.
(b) Use StatKey or other technology to compute the p-value.
Round your answer to three decimal places.
p-value = ?
In: Statistics and Probability
A long straight wire in the horizontal plane carries a current of 50A in north to south direction. Find the magnitude and direction of B at a point 2.5m east of the wire.
In: Physics
How did various visions of a “reconstructed” South differ? How did these visions reflect the old political and social divisions that had led to the Civil War?
In: Psychology
Discuss why export control reform is necessary. When would the U.S. Department of Agriculture exercise jurisdiction over exports from businesses is South Florida?
In: Finance
Find examples of tarriffs in TWO SEPARATE countries and explain why they have tariffs on this product (Agriculture would be the easiest)
(DO NOT use South Africa and Argentina)
In: Economics
Discuss the challenges South Florida will face as the urban infill trend becomes a reality focusing on two of the major planning opportunities - economic development and affordable housing.
In: Economics
Construct a discussion on the different ways that government intervenes in south africa. Support your discussion by citing real life examples of such intervention from reliable sources.
In: Economics