Assessment of risk
Existence of the sales invoice and the receivable,
rent receivable was invoiced as non current
No internal audit to overlook the completeness
of the receivables and invoices.
Substantive audit pro
Question 2. Budget.
The medium creatures manufacturing facility would like to lease the extra space and some
existing equipment to increase their production capacity by 40%. And they will incur
$500000 in cost in doing so. Our analysis
This case can be divided into four different sections each having different tax
consequences to Mc Donalds.
Mc Donalds replaced the electricity poles and overhead power lines with
underground cables. These cablings were a part of larger system
Your final exam will be mostly from chapters 11, 12, 13 and 14. Read the chapters and study your notes!
The comprehensive portion should be the easy stuff! Mostly from chapters 1, 2 & 3.
Study tip When I give you T/F questions on your review, I am NOT goi
Tax Reform Proposals
Here in the United States, there is a widespread support for Tax Reform.
Taxfoundation.org states, tax reform is a well-designed tax system that raises revenue for
necessary programs as efficiently, fairly, and simply as possible. S
1.Under the original (old) cost system:
a) single indirect cost allocation rate =
Total Indirect Cost
Total Amount of Checks Processed
$0.03 per dollar processed
Retail Customer Line
Business Customer Line
3. If you had to decide whether to continue making a component part or to begin buying
the part from an overseas supplier, what quantitative and qualitative factors would
influence your decision?
The qualitative factor that would influence my decision on
Case 1: Over-Land Trucking and Freight: Relevant Costs for Decision Making
1. If Over-land accepts two additional loads per week from FHP, they must drive an additional
156,000 miles per year. Since variable costs are avoidable in this case, they would be