International Accounting Standards (IAS) Fill in the BlanksI.pdf
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International Accounting Standards (IAS) Fill in the Blanks International Accounting Standards (IAS) are a set of accounting principles and guidelines aimed at achieving consistency and comparability in financial reporting worldwide. Fill in the blanks with the appropriate terms: The International Accounting Standards Board (IASB) is responsible for developing and issuing ______________ that guide the preparation and presentation of financial statements. One of the fundamental objectives of IAS is to ensure that financial statements provide ______________ information to a wide range of users, including investors, creditors, and regulatory authorities. IAS 16 deals with the accounting treatment of ______________, establishing guidelines for their recognition, measurement, and subsequent depreciation. IFRS 9 focuses on ______________, including financial assets and financial liabilities, providing principles for their classification and measurement. IAS 36 requires entities to perform ______________ when there are indicators of impairment, ensuring that assets are not carried at amounts exceeding their recoverable amounts. Under IAS 40, investment properties are recognized at ______________ value, and the standard provides guidance on the measurement and disclosure of these properties. IAS 2 outlines the accounting treatment for ______________, establishing principles for their recognition, measurement, and disclosure in financial statements. IFRS 15 addresses ______________ revenue recognition, including principles for recognizing revenue from contracts with customers. To promote transparency, companies listed on international stock exchanges, such as the New York Stock Exchange (NYSE) or the London Stock Exchange (LSE), are often required to report their financial results following ______________. To ensure consistency and comparability, the IASB continually works on updating and ______________ IAS to reflect evolving business practices and changing economic conditions..
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spent for a particular type of office machine within the next year or the money must be returned.
(5) Pays salaries of $90,000. Of that amount, $15,000 came from restricted funds. The payment
was made to individuals doing health care work. (6) Spends the $23,000 in (4) for the
appropriate office machine. (7) Receives a cash gift of $12,000 that Watson must convey to
another specified charity. However, Watson has the right to give this money to a different
organization if officials so choose..
Match the audit procedure with the corresponding Management Assertio.pdf
Match the audit procedure with the corresponding Management Assertion. A type of
Management Assertion may be selected once or not at all.Review confirmations of liabilities to
determine if receivables have been sold or factored.Existence and
OccurrenceCompletenessCutoffRights and ObligationsPresentation and DisclosuresValuation,
Allocation and AccuracyProvide a list of related parties to all members of the audit team to assist
in identification of the transactions.Existence and OccurrenceCompletenessCutoffRights and
ObligationsPresentation and DisclosuresValuation, Allocation and AccuracyThe auditor traced
the inventory stored at outside locations to the inventory accounts.Existence and
OccurrenceCompletenessCutoffRights and ObligationsPresentation and DisclosuresValuation,
Allocation and AccuracyInvestigate the credit ratings for delinquent and large
receivables.Existence and OccurrenceCompletenessCutoffRights and ObligationsPresentation
and DisclosuresValuation, Allocation and AccuracyVouch sales and cash receipt transactions
occurring near period end to validate transactions were recorded on correct period.Existence and
OccurrenceCompletenessCutoffRights and ObligationsPresentation and DisclosuresValuation,
Allocation and AccuracyConfirm a sample of receivables by direct communication with debtors..
Marc and Mikkel are married and file a joint tax return. Marc and Mi.pdf
Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this
year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of
$350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to a
traditional individual retirement account, and Marc paid alimony to a prior spouse in the amount
of $1,500 (under a divorce decree effective June 1, 2006). Marc and Mikkel have a 10-year-old
adopted son, Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are
allowed to claim a $2,000 child tax credit for Mason. Marc and Mikkel paid $6,000 of
expenditures that qualify as itemized deductions, and they had a total of $2,500 in federal income
taxes withheld from their paychecks during the year. (Use the tax rate schedules.)
2023 Tax Rate Schedules Individuals Schedule X-Single.
Louis files as a single taxpayer. In April of this year he received .pdf
Louis files as a single taxpayer. In April of this year he received a $1,100 refund of state income
taxes that he paid last year.
How much of the refund, if any, must Louis include in gross income under the following
independent scenarios? Assume the standard deduction last year was $12,550.
Note: Leave no answer blank. Enter zero if applicable. Louls tiles as a single taxpayer. In April
of this year he received a $1,100 refund of state income taxes that he paid last year. How much
of the refund, if any, must Louis include in gross income under the following independent
scenarios? Assume the standard deduction last year was $12,550. Note: Leave no answer blank.
Enter zero if applicable. Required: a. Last year Louis claimed itemized deductions of $13,000.
Louis's itemized deductions included state income taxes paid of $1,950 and no other state or
local taxes. b. Last year Louis had itemized deductions of $11,000 and he chose to claim the
standard deduction. Louis's itemized deductions included state income taxes paid of $1,950 and
no other state or local taxes. c. Last year Louis claimed itemized deductions of $14,190. Louis's
itemized deductions included state income taxes paid of $2,950 and no other state or local taxes.
Answer is complete but not entirely correct. Complete this question by entering your answers in
the tabs below. Last year Louis claimed itemized deductions of $14,190. Louis's itemized
deductions included state income taxes paid of $2,950 and no other state or local taxes..
Identify each account type as being associated with the balance shee.pdf
Identify each account type as being associated with the balance sheet or the profit and loss (P&L)
statement.
A. Asset accounts
Balance Sheet
P&L Statement
B. Expense accounts
Balance Sheet
P&L Statement
C. Equity accounts
Balance Sheet
P&L Statement
D. Income accounts
Balance Sheet
P&L Statement
E. Liability accounts
Balance Sheet
Identify each account type as being associated with the balance sheet or the profit and loss (P&L)
statement.
A. Asset accounts
Balance Sheet
P&L Statement
B. Expense accounts
Balance Sheet
P&L Statement
C. Equity accounts
Balance Sheet
P&L Statement
D. Income accounts
Balance Sheet
P&L Statement
E. Liability accounts
Balance Sheet
P&L Statement.
In May 2017, it was revealed that Equifax has joined other high-prof.pdf
In May 2017, it was revealed that Equifax has joined other high-profile companies including
Marriott, Home Depot Inc., Target Corporation, Anthem, Blue Cross, and Yahoo! as a victim of
cyberattacks. Equifax is one of the largest credit-rating companies in the United States and
operates or has investments in 24 countries and employs over 11,000 employees worldwide.
Hackers gained access to the Equifax network in mid-May 2017 and attacked the company for
76 days. In July 29, 2017, Equifax staff discovered the intrusion during routine checks of the
operating status and configuration of IT systems. This was 76 days after the initial attack.
Hackers accessed Social Security numbers, dates of birth, home addresses, and some driver's
license numbers and credit card numbers, which impacted over 148 million people. The security
system at the company did not keep up with the aggressive company growth and the company
failed to modernize its security system. According to the report the company did not take action
to address vulnerabilities that it was aware of prior to the attack. According to Equifax, hackers
exploited a software vulnerability known as Apache Struts CVE-2017-5638. This vulnerability
was disclosed back in March 2017. There were clear and simple instructions of how to fix the
problem from the software provider Apache. It was the responsibility of Equifax to follow the
recommendations offered by Apache right away. According to Apache, software patches were
made available in March two months before hackers began accessing Equifax data. In addition to
the previously mentioned vulnerability, the hackers found a file containing unencrypted
usernames and passwords. Hackers also found an expired security certificate on a device for
monitoring network traffic. This indicated that Equifax did not detect that data was being stolen.
The Government Accountability Office (GAO) report indicated that the hack took place because
Equifax failed to segment its databases into smaller networks. This, in turn, allowed the attackers
a direct and easy access to all of its customers data. As part of fixing the security issues the
company hired a new chief information security officer, Jamil Farshchi, and has invested $200
million on data security infrastructure.
Question:
What did Apache Struts have to do with this high profile hack of Equifax?
Think of other companies that recently dealt with the same issue (Target, Mastercard, Yahoo) -
what digital marketing efforts do/should companies make to regain customer trust and online
sales?.
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