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1 Aug 2018

what is the guideline i can use to write an assignment onaccounting for tangible assets? what excatly should i write aboutin this assignment? please help with guideline

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Patrina Schowalter
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2 Aug 2018

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Suppose a firm’s planning audit guidelines specify the following risk level ranges for AR, RMM and DR.The firm’s risk ranges, for any materiality amount, are:

VERY LOW5%

LOW

MODERATE10% to 30%

HIGH

(The reason that the upper end of each range equals to the lower end of the next riskier range is for practicality, in view of the fact that the specifications are inherently imprecise.) These ranges are modified according to the type of risk, as described below.

Audit Risk: If an auditor doesn’t specify a risk level for AR, the auditor must specify a category (VL, L or M, but not H). The firm’s planning software will then assume that VL=1%, L=5% and M=10%.

Risk of Material Misstatement: If the auditor doesn’t specify a risk level for RMM, the auditor must specify a category (VL, L or M or H). The firm’s planning software will then assume that VL=5%, L=5%, M=10% and H=100%.

Detection Risk: The auditor should specify a percentage for DR that is consistent with AR and RMM. That is, DR = AR / RMM and is dependent on the auditor’s choices of AR and RMM. If application of the risk levels for AR and RMM, pursuant to the above guidelines, results in DR≥50%, then the auditor sets DR=50%.

Suppose the auditor specifies only the categories for AR and RMM. Briefly explain the reason for the firm’s software planning tool setting AR to the low end of the range for each category and RMM to the high end of the range for each category.

A. The auditor sets AR to LOW, and RMM to MODERATE. Calculate DR in accordance with the planning guideline.

B. The auditor sets AR to LOW, and RMM to HIGH.Calculate DR in accordance with the planning guideline.

C. The auditor sets AR to MODERATE, and RMM to LOW.Calculate DR in accordance with the planning guideline.

3. A. Assuming that scope of the examination remains constant , what effect does increasing the

Materiality amount have on DR? On AR?

B. If M is increased but AR and DR are unchanged, what is the effect on the scope of the

examination

hello, i need help for this assignment

Students are expected to write one paper based on current eventbusiness articles relative to accounting for governmental ornot-for-profit organizations—age of article(s) should not exceed 12months. the paper must state the accounting for governmental ornot-for-profit organization's problem(s) or issue(s); providecritical analysis and interpretations of the article(s); andprovide conclusions.

Enron Bankruptcy

React to Video found here:

https://www.youtube.com/watch?v=H2f7FunDuTU

The teacher wants me to watch the video and then write what I learn from the video. She Wants me to write my ideas after watching the video.I watch the video several times but I can't fix out what I should write.

Please I need your help

Type in word document Don't use handwriting, please

Thank you for help!

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