Discuss the critical evaluation of an emerging issue in accounting and finance.

May 19, 2021/in Accounting /by Eunice

Discuss the critical evaluation of an emerging issue in accounting and finance.

Discuss the benefits and challenges of this approach to financial and non-financial reward for both employers and employees.

May 18, 2021/in Accounting /by Eunice

This is an individual word processed essay of 2000 words (plus a Reference list set out using the Harvard referencing system) on the following question:

Total Reward is used by employers as a way to motivate their employees. Discuss the benefits and challenges of this approach to financial and non-financial

reward for both employers and employees.

Determine both the relationship of risks in the planning of the audit and factors that influence those risks.

May 17, 2021/in Accounting /by Eunice

Imagine that you are a senior auditor, and your firm has been selected to audit a medium-sized sporting goods company with a single location.

Describe the four phases of an audit and discuss the key factors that would help you determine how to plan the audit for this company. Provide specific examples.
Determine both the relationship of risks in the planning of the audit and factors that influence those risks.
Speculate on which type of risk creates the most uncertainty for the auditor, and recommend at least two ways to plan the audit to mitigate those risks. Provide specific examples.

Write a financial reports and comparison for 2020 and 2019 financial statements and how covid has affected them.

May 14, 2021/in Accounting /by Eunice

Write a financial reports and comparison for 2020 and 2019 financial statements and how covid has affected them.

Where Do the Rules Come From? Who Impacts Accounting?

May 12, 2021/in Accounting /by Eunice

Where Do the Rules Come From? Who Impacts Accounting?
Throughout your studies, you have heard of the “big names” of the organizations that impact accounting. But what do they really do? How do you know what the hot topics are? How are they influenced? What do they have to do with the financial reports you have been studying all quarter? How could this impact how financial reports are produced? For example, consider how a change in the way leases are recognized may impact the liabilities on a balance sheet and expenses on an income statement (which would then impact owner’s equity).

For this assignment, select two of the organizations below.

FASB
PCAOB
GASB
SEC
COSO
IFRS
AICPA
IMA
IIA
FEI
Then, write a 2–3 page paper in which you:

Briefly explain the mission or focus of the two organizations you selected and cite at least two sources for your information. Note: Wikipedia and similar websites do not qualify as appropriate sources. It is recommended that you refer to the organizations’ websites or excerpts from their established publications.
Select a topic that one of the organizations is currently focused on, or one that they consider a pressing issue or “hot topic.”
Summarize what the organization you selected is doing to address the issue you identified.
Explain how the issue you identified impacts how financial reports are produced.
Your assignment must follow these formatting requirements:

Discuss the federal tax obligations for the firm if it is structured as an LLC and as a C Corporation.

May 12, 2021/in Accounting /by Eunice

Complete an MD&A that includes the following:
• A summary of the current year’s activities.
• Discuss the company’s ability to meet short-term obligations and fund operations and capital projects, and give the results of operations.
• Provide a financial ratio analysis that includes liquidity, profitability, and solvency.
• Discuss the federal tax obligations for the firm if it is structured as an LLC and as a C Corporation.
• Provide a recommendation for next year’s operations.

What did you find most useful about using XBRL?As a professional accountant, how would you use XBRL?

May 11, 2021/in Accounting /by Eunice

Questions.

1.List the names of the 10 banks you selected.

2.Which bank has the most decrease in available–for–sale securities?Draw a graph that shows the trend over the sample period.

3.Why did this bank experience the decrease in available–for–sale securities?Find sources that support your answer from financial statements, news articles, and other sources. Provide links to your sources.

4.Which bank has the most increase in held–to–maturity securities? Draw a graph that shows the trend over the sample period.

5.Why did this bank experience the increase in held–to–maturity securities? Find sources that support your answer from financial statements, news articles, and other sources. Provide links to your sources.

6.What did you find most useful about using XBRL?As a professional accountant, how would you use XBRL?

7.What did you find most troubling about using XBRL?

DESCRIBE 3 MAJOR TERMS USED IN AUDIT AND THEIR IMPORTANCE.

May 11, 2021/in Accounting /by Eunice

DESCRIBE 3 MAJOR TERMS USED IN AUDIT AND THEIR IMPORTANCE.

discuss the safeguards that would improve Honest’s confidence in the quality and usefulness of the External Audit.

May 8, 2021/in Accounting /by Eunice

PART A – ASSESSING AND ACCEPTING AN AUDIT ENGAGEMENT

You are an Audit Senior at the KGMP, and part of the engagement team to audit a new client, Honest Constructions Ltd (Honest) for the year ending 30 April 2021. The engagement Partner had a pre-audit meeting with the Finance Director of Honest to obtain more information about Honest and its operations. You were in attendance and took minutes.

Minutes of Meeting

• Honest is in the construction sector and operates on low margins on complex, high-value, multi-year contracts involving building construction and other major structures. The major contracts are done predominantly, but not exclusively, for the Government. Honest’s operations are organised into six divisions across England with a Head Office at Manchester.
• As is the usual practice in the construction industry, Honest has received significant sums of money up front to get its long-term major capital contracts moving.
• Activity in the construction industry has slowed down in recent times due to economic uncertainty arising from the Brexit and more recently the Pandemic. Honest has been bidding lower prices for some contracts in order to keep winning work and keep its sub-contractors and employees occupied.
• Honest is a family-owned private company. The company is headed by a seven-member board, chaired by Jackie Honest and includes three other Honest family members (who are all Executive Directors), two former university mates of Jackie Honest and a former CEO of the company.
• The staff turnover of the construction employees is very high with most of them being casuals or temps. Construction employees are recruited directly at the work site and details of hours worked are sent by site managers every fortnight to the payroll department at the Head Office.
• During the year ended 31 January 2021, Honest spent a total of £1.2 million on integrating the financial accounting, management accounting and human resource (including payroll) system.
• As a result of the specialised nature of its contracts, Honest uses Sarah Bright, a management expert, to value its long-term contracts including work-in-progress at the end of its accounting period.
REQUIRED:

Discuss the Audit Risks associated with accepting and undertaking this new Audit Engagement.
PART A: Up to 60 MARKS
INDICATIVE WORD LIMIT PART A: 1,250 WORDS
CONTINUED

PART B – AUDIT QUALITY, IMPORTANCE AND USEFULENSS OF EXTERNAL AUDIT

In light of a string of recent and highly publicised audit failures in the UK, the management of Honest raised serious concerns about the quality and usefulness of the External Audit.

REQUIRED:

In reference to the audit quality and usefulness of external audit, highlight recent cases of Audit failure in the UK and the resulting developments in Audit Practice and Regulation, and discuss the safeguards that would improve Honest’s confidence in the quality and usefulness of the External Audit.