As ZOU Fencing Inc. is a public company filing quarterly and annual reports with SEC,
the public accounting firms that audit this company must follow the professional standards
established by Public Company Accounting Oversight Board (PCAOB). As per the s
Yes, the information relating to actual claims incurred as of the balance sheet date which
actually became available after the balance sheet date should be considered. Without considering
it, the company wo
Audit Planning and Analytical Procedures
There are three primary benefits from planning audits: it helps the auditor
obtain sufficient competent evidence for the circumstances, helps keep audit
costs reasonable, and helps av
What are the accounting requirements for a correct sales cutoff?
The accounting requirement for a correct sales cutoff is to record the shipment as a sale
on the date when the product is shipped or the title is passed, whichever occurs first.
Eye Vision Inc.
1. Is Eye Visions arrangement with Holland Hospital within the scope of ASC 985-605,
Software: Revenue Recognition?
No, Eye Visions arrangement with Holland Hospital doesnt fall within the scope of ASC
985-605. As highlighted in the case,
An investment that is not one of the three traditional asset types such as stocks, bond and
cash are considered as an alternative investment. These types of investments include hedge
funds, managed futures, real estate, commodi