Question # 2
What quality control mechanisms should major accounting firms have in
place to ensure that audit partners have the proper training and experience
to supervise audit engagements?
Several factors can be used to gauge the training and expertise

HelpToday Personal Loans
Monthly Loan Balance Analysis
Customer
Tolliver, Ralph
Jennings, Howard
Rivera, Juan
Lance, Brad
Yin, Yu
Lang, Rose
Tulley, Sullivan
Jiminez, Jose
Adams, Bettina
Totals
Average
Lowest
Highest
Previous
Balance
Payments
$1,600.72
1,

Aaron Chadow
Acct 372- T/TH- 3:10-4:25
Homework #2
EX. 1-1
1. A 2. C 3. D 4. D 5. B 6. C 7. D 8. C 9. A 10. C
Problem 1-1
A. $7.4 million in tax revenue must be collected.
B. $6.5 million in tax revenue must be collected.
C. $16 million in tax revenue mus

HyperMass Onl
Salary Re
Employee
Dependents
Carl, Michael
Green, Sue
Fekir, Sith
Lane, Jon
Nichols, Peter
Pearson, Ada
Rodriquez, Juan
Williams, Sean
Yau, Xin
Totals
3
0
1
2
3
3
2
0
4
Highest
Lowest
Average
4
0
2
Hours
Worked
Hourly
Pay Rate
60.45 $
81.50

Personal Budget W
Monthly Estima
Income
Wages
Dividends
Total
Expenses
January
February
March
April
May
June
$ 1,000.29 $ 1,000.29
# $ 1,000.29 $ 1,000.29 $ 1,000.29
4,000.75
#
#
$ 5,001.04 $ 1,000.29 $ 1,000.29 $ 1,000.29 $ 1,000.29 $ 1,000.29
January
Fe

Personal Budget Worksheet
Monthly Estimates
Income
Wages
Dividends
Total
Expenses
January February March
April
May
June
July
August
September October November December
$ 1,000.29 $ 1,000.29
# $ 1,000.29 $ 1,000.29 $ 1,000.29 $ 1,000.29 $ 1,000.29 $
4,000.

Erica Sharaby
ACCT 723
Professor Dignam
September 20, 2016
Case 2.1 Jack Greenberg, Inc.
Synopsis: Jack Greenberg Inc. (JGI), is a wholesale meat company established, owned &
operated by Jack Greenberg. The companys headquarters are in the Philadelphia ar

Case 1.8 Crazy Eddie, Inc.
1. Compute key ratios and other financial measures for Crazy Eddie during the period 19841987.
Identify and briefly explain the red flags in Crazy Eddies financial statements that suggested the firm
posed a higher-than-normal le

Juan A. Martinez
Accounting 723
Case 1.8
Question# 1
1987
Liquidity:
Current ratio
Quick Ratio
Debt to assets
Time interest earned
Long-term debt to equity
Inventory turnover
Age of inventory
Accounts receivable
Turnover:
Age of accounts
Receivable:
Gross

Juan A. Martinez
Prof. Dignam
Case 7.6
Question # 1
If we take into consideration that First Securities was affiliated with the
Security Exchange Commission, this situation would have make them subject
to the PCAOB supervision; therefore, the Nays mail ru

Juan A. Martinez
Prof: Dignam
Case: 5.1
Question#1
The three accountants involved in this case faced ethical dilemmas. They all at some point
tested their own principles and ethics towards the accounting profession while working on
Cardillos books. Smith,

Juan A. Martinez
Course: 723
Case: 1.4
Question#1
The lack or loss of independence can result in an failure to assess a good
understanding of a clients financial records and internal controls.
Deciding not to gather sufficient adequate evidence to support

Juan A. Martinez
Prof. Dignam
Course: Accounting 723
Question # 1
Robinsons approach does not support fundamental accounting guidelines
and notions, especially the treatment of the accruals in question. Robinsons
skepticism does not take into consideratio

Juan A. Martinez
Prof. Dignam
Course: Accounting 723
Case 5.3
Question #1
The auditors should not demand that clients accept all the adjusting journal
entries required to reflect the position of financial statements. The purpose
of the audit is to give re

Juan A. Martinez
Prof. Dignam
Case: 1.7
Course: Acc. 723
Question # 1
The substance-over-form concept requires accounting records to show the
overall financial situation of the company rather than made up entries that
are just posted on the books in compl

Juan A. Martinez
Case: 1.15
Prof. Dignam
Question #1
Common inherent risk factors of the entertainment industry:
When creative, artistic people take the control of financial matters,
often they do not have the same financial expertise as other
executives

Juan A. Martinez
Prof. Dignam
Case: 6.6
Question#1
Mr. Tollison apparently had the business acumen and the technical skills to become a partner, but his
sales skills might had fall short. It seems that at his firm, the ability to bring new clients was jus

Adaptive Solutions Online
Sales
Cost of Goods
Gross Margin
Expenses
Advertising
Maintenance
Rent
Salaries
Shipping
Supplies
Sharaby Web Servic
Total Expenses
4
Ye
ar
3
Ye
ar
Ye
ar
Ye
ar
1
2
Eight-Year Financial Projection for Product X
42,524,207
29,809,4

Section 6.2 Day 3
1.
Using the normal probability distribution to approximate the
binomial probability distribution:
a.
b.
2.
n p 5
n 5
q
Continuity Correction Factor
The value 0.5 subtracted or added, depending on the question, to
selected value when a d

Section 5.2
1.
Binomial Experiment
2.
Characteristics of a Binomial Experiment
3.
Binomial Probability Formula
The probability of exactly x successes in n trials is:
P x, n
n!
p x qn x
x ! n x !
Example 1
Suppose that 30% of all the automobiles in a shop

Section 4.2
1.
Contingency table
2.
Marginal Probability
3.
Intersection of Event A and B
4.
Union of Event A and B
5.
Addition Rule (Mutually Exclusive Events)
P A or B P A P B
Example 1
a. At a political rally, there are 20 Republicans 13 Democrats and

Section 6.4
1.
Uniform Probability Density Function
1
f ( x)
if a x b
b a
f ( x ) 0 otherwise
2.
Mean of the Uniform Distribution
3.
a b
2
Standard Deviation of the Uniform Distribution
b a
12
Example 1
According to the insurance Institute of America, a

Section 6.1 and 6.2 Day 1
1.
Continuous Random Variable
2.
Normal Probability Distribution
3.
Standard Normal Probability Distribution
4.
Using the Normal Probability Table
Example 1
Using the standard normal table, find the following probabilities associ

Section 5.1
1.
Discrete Random Variable
2.
Continuous Random Variable
3.
Discrete Probability Distribution
a.
b.
c.
3.
The probability of a particular outcome is between 0 and 1.
The outcomes are mutually exclusive events.
The sum of the probabilities of