The opening quote in this chapter includes the statement: By certifying the public reports that collectively depict
Question:
The opening quote in this chapter includes the statement: “By certifying the public reports that collectively depict a corporation’s financial status, the independent auditor assumes a public responsibility transcending any employment responsibility with the client’? Discuss what it means for the auditor to have a public responsibility that transcends any employment responsibility with the client.
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
Ethical Obligations And Decision Making In Accounting Text And Cases
ISBN: 9780078025280
2nd Edition
Authors: Steven Mintz, Roselyn Morris
Question Posted:
Students also viewed these Business questions
-
In a 1984 opinion handed down by the U.S. Supreme Court, Chief Justice Warren Burger noted that the independent auditor assumes a public responsibility transcending any employment relationship with...
-
Imagine this scenario. A few years after graduating from Boston College, Florida Gulf Coast University, or the University of North Texas with an accounting degree, you find yourself working as an...
-
Imagine this scenario. A few years after graduating from College of William & Mary, Xavier University, or Youngstown State University with an accounting degree, you find yourself working as an audit...
-
In Exercises 8594, find all values of x satisfying the given conditions. y = 2x + x 8x + 2 and y = 6.
-
Stefan's law states that the total energy emitted by a blackbody per unit time and per unit area is Et = (T4 where a is 5.69 3 10-8 W/m2K4. Calculate the total energy output in W/m2 for the...
-
Archeologists have discovered a rise in shaft graves during the Middle Helladic period in ancient Greece (i.e., around 2000 BC). Shaft graves are named for the beautifully decorated sword shafts that...
-
Accrual-and Cash-Basis Expenses} Speedy Delivery Company provides next-day delivery across Eastern Canada. During May, Speedy incurred \(\$ 132,600\) in fuel costs. Speedy paid \(\$ 95,450\) of the...
-
Cheng Furniture Company refinishes and reupholsters furniture. Cheng Furniture uses a job order cost system. When a prospective customer asks for a price quote on a job, the estimated cost data are...
-
Suire Corporation is considering dropping product D 1 4 E . Data from the company's accounting system appear below: \ table [ [ Sales , $ 7 7 0 , 0 0 0
-
In their landmark book that was published in 1966, Ethical Standards of the Accounting Profession, John Carey and William Doherty state: The code [of ethics] in effect is an announcement that, in...
-
Companies are sometimes faced with crisis management decisions. A good example is that of Ford with its Pinto brand. Compare Fords reaction, from an ethical perspective, to the gas tank problem in...
-
Explain the trade-offs banks face when they consider holding high-yield securities.
-
Veggies and Fruits Corner Inc. sells 30-pound bags of oranges to The Veterans Home facility for $12 per bag.The fixed costs of this operation are $45,000, while the variable costs of 0ranges are $4...
-
Questions 6. A few months have passed since Stephanie's loan was approved and settled. Your broker business has now grown substantially to the point you now employ four staff members in support roles...
-
The following facts relate to the firm ABC Pty Ltd: 1)the base wage rate for the workers is $12 per hour 2)employees are entitled to four weeks annual leave 3)sick leave entitlement is five days on...
-
Crirically analyse the concepts, features and importance of costs and accounting in making decisions in health and social care? Apply tools of costing design and costing systems to a health and...
-
Consider a business loan maturing in three years that has three remaining annual payments in one, two, and three years. The annual payments are all equal to $5 Million. While analyzing the loan, you...
-
Write a pseudocode description that generalizes the stop-and-wait algorithm in Figure below so that it implements the sliding-window protocol. Sender tranamits a frame; Sender sets a time-out on the...
-
Write a program that initializes an array. It inputs a value from the user and searches the number in the array.
-
Joker & Wild LLC has just been sued by its audit client, Canasta, Incorporated, claiming the audit failed to be conducted in accordance with generally accepted auditing standards, lacked the...
-
Compute Quick Ratio: Requirements: From the balance sheet data, where: Quick Assets: $150,000 Current Liabilities: $60,000 Calculate the quick ratio. Express the quick ratio as a numerical value....
-
A company produced 30,000 units during the month. Total manufacturing costs, including direct materials, direct labor, and factory overhead, amounted to $600,000. If the ending inventory was valued...
Study smarter with the SolutionInn App