(c) Briefly describe the principal audit work to be performed in respect of the carrying amount of the followingitems in the balance sheet:(i) development expenditure on the Fox model; (3 marks)
(c) Briefly describe the principal audit work to be performed in respect of the carrying amount of the following
items in the balance sheet:
(i) development expenditure on the Fox model; (3 marks)
相关考题：
(b) Briefly describe the way in which a ‘person specification’ differs from a ‘job description’. (3 marks)
(c) Briefly describe five factors to be taken into account when deciding whether to use recruitment consultants.(5 marks)
(b) Prepare a consolidated balance sheet as at 31 October 2005 for the Lateral Group in accordance withInternational Financial Reporting Standards. (21 marks)
(ii) Describe the basis for the calculation of the provision for deferred taxation on first time adoption of IFRSincluding the provision in the opening IFRS balance sheet. (4 marks)
(b) Prepare the balance sheet of York at 31 October 2006, using International Financial Reporting Standards,discussing the nature of the accounting treatments selected, the adjustments made and the values placedon the items in the balance sheet. (20 marks)
(b) Describe the principal audit work to be performed in respect of the useful lives of Shire Oil Co’s rig platforms.(6 marks)
(b) Describe the audit work to be performed in respect of the carrying amount of the following items in thebalance sheet of GVF as at 30 September 2005:(i) goat herd; (4 marks)
(d) Briefly describe the principal audit work to be performed in respect of the carrying amount of the followingitems in the balance sheet:(i) trade receivables; and (3 marks)
(b) Describe the principal matters that should be included in your firm’s submission to provide internal auditservices to RBG. (10 marks)
(ii) Briefly explain the implications of Parr Co’s audit opinion for your audit opinion on the consolidatedfinancial statements of Cleeves Co for the year ended 30 September 2006. (3 marks)
(c) You have been making preliminary inquiries regarding matters arising from the previous year’s audit of Di Rollo.It has been revealed that no action has been taken in response to the management letter prepared by the previousauditors. Di Rollo’s management has explained that this was because it was ‘poorly prepared’ and ‘unhelpful’.Required:Briefly describe various criteria against which the effectiveness of a management letter may be assessed.(7 marks)
(b) Explain the principal audit procedures to be performed during the final audit in respect of the estimatedwarranty provision in the balance sheet of Island Co as at 30 November 2007. (5 marks)
(ii) Describe the evidence you would seek to support the assertion that development costs are technicallyfeasible. (3 marks)
(c) Describe the audit procedures you should perform. to determine the validity of the amortisation rate of fiveyears being applied to development costs in relation to Plummet. (5 marks)
(b) Describe the potential benefits for Hugh Co in choosing to have a financial statement audit. (4 marks)
(b) Describe the principal audit procedures to be carried out in respect of the following:(i) The measurement of the share-based payment expense; (6 marks)
(ii) Identify and explain the principal audit procedures to be performed on the valuation of the investmentproperties. (6 marks)
(ii) State the principal audit procedures to be performed on the consolidation schedule of the Rosie Group.(4 marks)
You are an audit manager responsible for providing hot reviews on selected audit clients within your firm of CharteredCertified Accountants. You are currently reviewing the audit working papers for Pulp Co, a long standing audit client,for the year ended 31 January 2008. The draft statement of financial position (balance sheet) of Pulp Co shows totalassets of $12 million (2007 – $11·5 million).The audit senior has made the following comment in a summary ofissues for your review:‘Pulp Co’s statement of financial position (balance sheet) shows a receivable classified as a current asset with a valueof $25,000. The only audit evidence we have requested and obtained is a management representation stating thefollowing:(1) that the amount is owed to Pulp Co from Jarvis Co,(2) that Jarvis Co is controlled by Pulp Co’s chairman, Peter Sheffield, and(3) that the balance is likely to be received six months after Pulp Co’s year end.The receivable was also outstanding at the last year end when an identical management representation was provided,and our working papers noted that because the balance was immaterial no further work was considered necessary.No disclosure has been made in the financial statements regarding the balance. Jarvis Co is not audited by our firmand we have verified that Pulp Co does not own any shares in Jarvis Co.’Required:(b) In relation to the receivable recognised on the statement of financial position (balance sheet) of Pulp Co asat 31 January 2008:(i) Comment on the matters you should consider. (5 marks)
5 You are the manager responsible for the audit of Blod Co, a listed company, for the year ended 31 March 2008. Yourfirm was appointed as auditors of Blod Co in September 2007. The audit work has been completed, and you arereviewing the working papers in order to draft a report to those charged with governance. The statement of financialposition (balance sheet) shows total assets of $78 million (2007 – $66 million). The main business activity of BlodCo is the manufacture of farm machinery.During the audit of property, plant and equipment it was discovered that controls over capital expenditure transactionshad deteriorated during the year. Authorisation had not been gained for the purchase of office equipment with a costof $225,000. No material errors in the financial statements were revealed by audit procedures performed on property,plant and equipment.An internally generated brand name has been included in the statement of financial position (balance sheet) at a fairvalue of $10 million. Audit working papers show that the matter was discussed with the financial controller, whostated that the $10 million represents the present value of future cash flows estimated to be generated by the brandname. The member of the audit team who completed the work programme on intangible assets has noted that thistreatment appears to be in breach of IAS 38 Intangible Assets, and that the management refuses to derecognise theasset.Problems were experienced in the audit of inventories. Due to an oversight by the internal auditors of Blod Co, theexternal audit team did not receive a copy of inventory counting procedures prior to attending the count. This causeda delay at the beginning of the inventory count, when the audit team had to quickly familiarise themselves with theprocedures. In addition, on the final audit, when the audit senior requested documentation to support the finalinventory valuation, it took two weeks for the information to be received because the accountant who had preparedthe schedules had mislaid them.Required:(a) (i) Identify the main purpose of including ‘findings from the audit’ (management letter points) in a reportto those charged with governance. (2 marks)
(c) In the context of a standard unmodified audit report, describe the content of a liability disclaimer paragraph,and discuss the main arguments for and against the use of a liability disclaimer paragraph. (5 marks)
Part BDirections:In your essay, you should1) describe the drawing briefly,2) explain its intended meaning, and then3) give your comments.You should write neatly on ANSHWER SHEET 2. (20 points)
The income statement is prepared from (). A.the income statement columns of the work sheetB.the adjusted trial balanceC.either the adjusted trial balance or the income statement columns of the work sheetD.both the adjusted trial balance and the income statement columns of the work sheet
Directions:In your essay, you should1) describe the drawing briefly,2) explain its intended meaning, and then3) give your comments.You should write neatly on ANSHWER SHEET 2. (20 points)
Write an essay of 160-200 words based on the following picture.In your essay,you should（1）describe the picture briefly（2）interpret the meaning,and（3）give your comments You should write neatly on the ANSWER SHEET.（20 points）