What is quantitative materiality?
Question:
What is quantitative materiality?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
ANSWER Quantitative materiality refers to the assessment of the significance or importance of a part...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach
ISBN: 9781118878415
1st Extended Canadian Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
Question Posted:
Students also viewed these Business questions
-
What is considered material by you may not be material from your fellow auditors perspective. You will explore how to determine what materiality levels are so that your audit team is in agreement....
-
The North Face, Inc. (North Face) is an American outdoor product company specializing in outerwear, fleece, coats, shirts, footwear, and equipment such as backpacks, tents, and sleeping bags. North...
-
Tia is discussing with Rory and Leigh the risks they identified and how this information will be used in the audit risk model. Tia comments, The audit risk model provides us with a guide for our...
-
1. differences between debt financing and equity financing 2. accounting differences between preferred stock and common shares. 3. accounting for treasury shares; why do firms want to buy back their...
-
What are the three most important task factors leading to cumulative trauma disorders?
-
TB MC Qu . 7 - 4 9 ( Static ) Under the LIFO cost flow assumption during... Under the LIFO cost flow assumption during a period of rising costs, which of the following is false?
-
The second most named woman was Sarah Palin, who was named by 15% of the people in the sample. Use a technology tool to find a 95% confidence interval for the population propor- tion that would have...
-
As you've seen in this chapter, activity based costing (ABC) systems are useful in helping companies make better decisions about pricing, product mix, and cost management related to product design...
-
Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information Gross sales RO 53400 Purchase Discount RO 1675 Bank charges RO1654 Closing stock RO 11870...
-
What is the most appropriate materiality base for a for-profit entity? Why?
-
What is qualitative materiality?
-
A company has the following results for the year to 31 March 2022: The charitable covenant began on 1 October 2021 and falls within the Gift Aid scheme. Compute the taxable total profits for the...
-
Consider how they might directly apply to your life and work environment when answering the questions below. Competency 1: Evaluate data-driven processes and approaches of an organization's...
-
There are several website optimizer tools available to help you "increase website conversion rates." Following : Explain fully what is meant by "increase website conversion rates"; then, identify two...
-
Imagine being a human resource director for a large hotel chain. Report to management highlighting problematic diversity issues that may arise. Identify 3 challenging diversity issues (e.g., race,...
-
A study based on a sample of 4 0 0 medical school students finds that the ratio of female students is 0 . 4 8 . The school rules require that the female ratio in the school is at least 0 . 5 ? a ) (...
-
One of the many paradoxes in leadership is the challenge of encouraging a team effort while simultaneously encouraging individuals to excel. Why is this paradox a challenge for team leaders, and how...
-
Why is it important to estimate the discount amount on an invoice?
-
You purchase a bond with a coupon rate of 6.7 percent, a par value $1,000, and a clean price of $905. Assume a par value of $1,000. If the next semiannual coupon payment is due in two months, what is...
-
Hardeep Rahman is an audit senior with a national audit firm. Hardeep has been on the audit engagement of a private company, Grey & Sons Construction Ltd. Grey & Sons has been a client of the audit...
-
What is the purpose of an engagement letter? What should be included in an engagement letter?
-
Which is more important, independence in fact or independence in appearance? Explain.
-
ABC Corporation has an activity - based costing system with three activity cost pools - Machining, Setting Up , and Other. The company's overhead costs, which consist of equipment depreciation and...
-
Consolidated Balance Sheets - USD ( $ ) $ in Thousands Dec. 3 1 , 2 0 2 3 Dec. 3 1 , 2 0 2 2 Current assets: Cash and cash equivalents $ 9 8 , 5 0 0 $ 6 3 , 7 6 9 Restricted cash 2 , 5 3 2 Short -...
-
How does corporate governance contribute to investor confidence and stakeholder trust? Accounting
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App