Explain what is meant by the term management assertions. With respect to the accounts receivable account, briefly
Question:
Explain what is meant by the term "management assertions." With respect to the accounts receivable account, briefly explain how the management assertions apply.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Auditing Assurance And Risk
ISBN: 9780324313185
3rd Edition
Authors: W. Robert Knechel, Steve Salterio, Brian Ballou
Question Posted:
Students also viewed these Business questions
-
It was like riding a tiger, not knowing how to get off without being eaten, according to Satyam Computer Services Limited (Satyam) former Chairman, B. Ramalinga Raju, soon after massive fraud...
-
CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...
-
Developments in Technology Light is incident from air on the end face of a multimode optical fibre at angle of incidence as shown below. n n 1 2 The refractive indices of the core and cladding are...
-
Coulson Company is in the process of refinancing some long-term debt. Its fiscal year ends on December 31, 2011, and its financial statements will be issued on March 15, 2012. Under current U.S....
-
At the beginning of a Type B lease, the lessorwill record what asset and liability, if any?
-
Fishwick Enterprises has 200,000 shares outstanding, half of which are owned by Jennifer Fishwick and half by her cousin. The two cousins have decided to sell 100,000 shares in an IPO. Half of these...
-
How has high population, urbanization, mobility, and increasing dependence on manufacturing and information affected family and gender?
-
Metters Cabinets, Inc., needs to choose a production method for its new office shelf, the Maxistand. To help accomplish this, the firm has gathered the following production cost data: Metters...
-
1- Workpapers (year of adquisicion, fair value/book value differentials, intercompanu balances) Pik Corporation acquired 80 percent of Sel Corporation's common stock on January 1, 2011, for $210,000...
-
Provide specific examples for each type of management assertions mentioned in the text: - Assertions about transactions - Assertions about accounts - Assertions about presentation and disclosure
-
Why are professional skepticism and ethical behavior on the part of the auditor necessary conditions for an audit?
-
Return to Example 1.1. Calculate the percentage density change between the given point on the wing and the free stream, assuming compressible flow. Data From Example 1.1: Consider the low-speed flow...
-
Air is forced through holes that are bored through a 0.5-m-thick block of solid (of molecular weight \(95 \mathrm{~kg} / \mathrm{kmol}\) ) that sublimates into the flowing air. Consider air at \(320...
-
For the conditions of Problem 8.70, how long must the annulus be if the water flow rate is \(0.35 \mathrm{~kg} / \mathrm{s}\) instead of \(0.02 \mathrm{~kg} / \mathrm{s}\) ? Data From Problem 8.70:-...
-
A square aluminum plate \(5 \mathrm{~mm}\) thick and \(150 \mathrm{~mm}\) on a side is heated while vertically suspended in quiescent air at \(75^{\circ} \mathrm{C}\). Determine the average heat...
-
When the Otis Elevator Company introduced the change described in Example 1.1, there was a lot of resistance from the various heads of the European subsidiaries. Why? What arguments do you think the...
-
Show that the laminar, free convection correlations for a vertical, isothermal flat plate of height \(L\) can be applied to a vertical, isothermal cylinder of diameter \(D\) and height \(L\) if the...
-
Figure P10.113 shows a channel contraction section often called a venturi flume [from Ref. 23 of Chap. 10], because measurements of y1 and y2 can be used to meter the flow rate. Show that if losses...
-
In Problem use geometric formulas to find the unsigned area between the graph of y = f(x) and the x axis over the indicated interval. f(x) = x + 5; [0, 4]
-
Suppose you have inherited $100,000.00 and face three alternatives: 1. Put the money in an interest-bearing account that pays 3% annually. This account is secured against bank failure. 2. Buy common...
-
Greetings, I have two cases with different types of responses, I would like you to collaborate with me with the solution focused on business intelligence for an e-commerce: Statement 1 The Tiloud...
-
Throughout history, societal influence has greatly influenced marketing decisions made by companies in all industries. The world has been affected by many difficult times in history, such as war,...
Study smarter with the SolutionInn App