Question: A change that the auditor agrees with from one generally accepted accounting principle to another generally accepted accounting principle that has a pervasive effect on

A change that the auditor agrees with from one generally accepted

A change that the auditor agrees with from one generally accepted accounting principle to another generally accepted accounting principle that has a pervasive effect on net income usually results in an audit report with unmodified opinion and an emphasis-of-matter paragraph True or False True False

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

How should a change from one generally accepted accounting principle to another accepted principle be handled in a third-quarter income statement? A. Retrospectively restate the first-quarter income...

Can you answer these multiple choices? 1. Which of the following is the best reason for the focus on consistency in audit reporting? A. It reduces the audit effort required to complete an engagement....

A.An accounting change from one generally accepted accounting principle to another generally accepted accounting principle.B.An accounting change involving a change in the reportingentity, which is a...

23. Which of the following is an example of a material accounting change that requires recognition in an unmodified opinion on the entity's financial statements? A. A change in the estimate of useful...

If management fails to provide adequate justification for a change from one generally accepted accounting principle to another, the auditors should O disclaim an opinion on the entity's financial...

15. A company is justified in changing from one generally accepted accounting principle to another generally accepted accounting principle only if a. the change decreases the entity's reported net...

If management fails to provide adequate justification for a change from one generally accepted accounting principle to another, the auditor should Multiple Choice O not modify the report because both...

Use the AICPA Professional Standards to answer each of the following questions. 1. Perry Corp. is changing accounting firms because management believes that its previous firm botched the preparation...

Fair value is the O a. net book value at the time the asset was purchased. O b. price that could be received for an asset if it were sold today. O c. amount the asset was purchased for. O d....

One operator services a group of five machines. Machine run time and service durations are both Exponential. Machines run for an average of 90 minutes after a service, and service duration averages...

Inventory Management Company A is a European company that sells goods solely within the EU. Its current policy is that an order of 50,000 units would be placed when the inventory level falls to...

What is the primary difference between a sales tax and a value - added tax?

Leadership is _ _ _ _ _ _ _ _ . essential to a company's success not an easy skill to learn influencing and inspiring others to work to achieve a common goal and then giving them the power and the...

You work for a yoga studio in your community as an instructor. The manager has approached you about your thoughts on introducing a bonus based on the number of classes taught and the total number of...

What additional benefits would you recommend that APTN offer employees? Why?

You were recently promoted to a management position. Your company is in the retail grocery business and has a policy that managers are paid a salary instead of an hourly wage. What are the advantages...