Week 3 Homework Questions1)The following questions are based.docx
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Week 3 Homework Questions 1) The following questions are based on the same scenario I used for question 3 in your week 1 homework. That question addressed violations of the Code of Conduct. I want to apply the same scenario to legal liabilities. Here is a copy of the scenario: John Smith owns a small, privately held firm. He hired you to audit its financial statements. He told you that the audit was to be completed in time to submit audited financial statements to a bank as part of a loan application. You immediately accepted the engagement and agreed to provide an auditor's report within three weeks. John agreed to pay you a fixed fee plus a bonus if the loan was granted. You hired two accounting students to conduct the audit and spent several hours telling them exactly what to do. You told the students not to spend time reviewing John's internal controls but instead to concentrate on proving the mathematical accuracy of the ledger accounts and on summarizing the data in the accounting records that support John's financial statements. The students followed your instructions and, after two weeks, gave you the financial statements, which did not include footnotes. You studied the statements and prepared an unqualified auditor's report. The report, however, did not refer to generally accepted accounting principles or to the fact that John had changed to the accounting standard for capitalized interest. Here are the new questions: a) After the audit was completed, John used the financial statements to secure a loan from a bank. Within a year, John was unable to make payments on the loan. In the process of investigating the reason why, the bank determined that the financial statements were material misstated. John, however, was near bankruptcy and could not pay off the loan. The bank sued you for the balance due on the loan. Given the violations I discussed in my solution to the week 1 homework, do you think the bank will prevail? You answer should provide an analysis of the legal issues involved to include what basis the bank would have to sue, what you level of liability would be(proportionate or joint and several), and a clear statement of why or why not you think the bank would prevail to include how effective your defenses might be. b) Now assume that instead of applying for a bank loan, you knew that John was planning to use the financial statements as part of a prospectus for an initial public stock offering (IPO), i.e., John's firm sold stock directly to the public. John did and a potential investor read the prospectus and did a comprehensive analysis of the financial statements as a basis for his decision to buy a significant portion of stock in the new corporation. A year later, the firm was doing so badly that its stock price was down to 10% of what it was after the IPO. The investor sued both the John' s new corporation and you for his investment losses. During the trial, the investor was able to show.
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Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 4 Homework Questions
Questions 1 and 2 were taken directly from the text and I am aware that the answers are available through an internet search.
I want to remind you that searching the internet for the answers and using those answers is a violation of UMUC academic integrity policies.
In addition, using any outside source without citation is plagiarism.
However, just gaining access to the answers will not satisfy the homework assignment because I have added the requirement that you explain your answers, which cannot be found on the internet and needs to be reasoned out from the material in the chapter.
In grading, I will place more emphasis you explanation than your selection of the correct alternative.
1)
The following are several multiple choice questions adapted from the CPA exam that concern the persuasiveness of evidence.
For each question, selected the best answer and then explain why it is better than all the alternatives.
Your explanations should address all the possible alternatives presented in the question.
a)
Which of the following types of documentary evidence should the auditor considered to be the most reliable and why?
i)
A sales invoice issued by the client and supported by a delivery receipt from an outside trucker.
ii)
Confirmation of an account payable balance mailed by and returned directly to the auditor.
iii)
A check, issued by the company and bearing the payee's endorsement, that is included with the bank statements mailed directly to the auditor.
iv)
An audit schedule prepared by the client's controller and reviewed by the client's treasurer.
Answer:
Explanation
:
b)
Which of the following statements concerning audit evidence is true?
i)
To be appropriate, audit evidence should be either persuasive or relevant, but need not be reliable.
ii)
The measure of the quantity and quality of audit evidence lies in the auditor's judgment.
iii)
The difficulty and expense of obtaining audit evidence concerning an account balance is a valid basis for omitting the test.
iv)
A client's accounting records can be sufficient audit evidence to support the financial statements.
Answer:
Explanation
:
c)
Audit evidence can come in different forms with different degrees of persuasiveness.
Which of the following is the least persuasive type of evidence?
i)
Vendor's invoice
ii)
Bank statement obtained from the client
iii)
Computations made by the auditor
iv)
Prenumbered sales invoices
Answer:
Explanation
:
d)
Which of the following presumptions is correct about the reliability of audit evidence?
i)
Information obtained indirectly from outside sources is the most reliable audit evidence.
ii)
To be reliable, audit evidence should be convincing rather than merely persuasive.
iii)
Reliability of audit evidence refers to the amount of corroborative evidence obtained.
iv)
Effective internal control provides more assurance about the reliability of audit evidence.
Answer:
Explanation
:
2)
T.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. Students are asked to evaluate statements, complete problems, discuss topics, and respond to other students' posts on several auditing issues and cases. The course appears to provide a comprehensive overview of auditing principles and practices.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes discussions of internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. The document outlines various audit tasks and assignments, including evaluating statements, listing standards violated in a case study, projecting financials, assessing internal control deficiencies, comparing common law and securities law, and developing an audit plan outline.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. Students are asked to evaluate statements, complete problems, discuss topics, and respond to other students' posts on several auditing issues and cases.
c
The document provides an overview of the course material for ACC 410 Entire Course Material- Auditing. It includes 14 discussion questions and assignments covering topics such as:
- The differences between internal and external audit staff relationships with a company.
- Conditions under which different types of audit reports may be issued, such as unmodified or qualified reports.
- Cases involving compliance with generally accepted auditing standards and procedures for topics like analytical procedures, internal controls, audit programs, and ethics.
The material asks students to evaluate statements, analyze case studies, describe audit processes, and discuss standards in order to demonstrate understanding of fundamental auditing concepts. Students are also instructed to respond to classmates' postings on the various discussion
Midterm Exam Fall 2015ACCT 612 – AuditingInstructionsAft.docx
Midterm Exam Fall 2015
ACCT 612 – Auditing
Instructions
After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate on my machine (i.e., "Jim Peters Mid.doc").
Type all your answers in this document.
Once you have completed the exam, submit your completed Word files by attaching them to the Midterm assignment in LEO by midnight, November 1st. I will assess a 5% per day late penalty for late exams.
If you need clarification on the wording of any question on the exam, you can e-mail me or call me at the phone numbers listed in my contact information.
I will not accept direct quotes in your answers. If you use outside sources, you need to paraphrase the material in your own words.
I will deduct points for not following these instructions. For example, I will deduct points if you do not type your answers in this document and submit some other type of file; if you do not attached your file to the assignment; or if you do not rename your file as instructed above.
I have posted a spreadsheet file, which I refer to as a grading checklist, with this exam. That spreadsheet file shows you how I have allocated points to questions. When grading your exams, I will fill in a copy of this file for each student and return it with your graded exam. When I grade exams, I embed comments in the Word documents to explain why I am deducting points.
Course Policy on Collaboration and Individual Work
This exam is an individual assignment. You are not to discuss it with anyone other than myself. It is also open book and open note. However, it is not a research assignment and I want you to base your answers to the questions on the material I have included in the exam, the text for the course, and the materials I have handed out in class.
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs. You can use lists where appropriate if you want.
You are a partner in a medium-sized, regional CPA firm and have been approached by XYZ, Inc., a relatively small, public company, to do their audit for next year. XYZ is registered with the SEC and has filed audited 10-Ks for the last 10 years since they went public. They haven't indicated why they are switching auditors.
XYZ specializes in developing shale gas using fracking technology. Fracking technology involves drilling wells into shale formations and injecting high pressure water containing special chemicals into the well to fracture the shale formation and release the trapped natural gas.
You and your firm currently are members of the AICPA. All the partners and managers are licensed CPAs in the state of New Mexico and also members of the AICPA. Your firm has limited experience with oil and gas extraction and has no other fracking clients. However, your firm has offices that ...
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are directed to various external links to access additional course content and assignments. The assignments require analyzing audit-related cases, problems, and statements; identifying auditing standards and controls; projecting financial statements; and outlining audit plans and procedures.
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are asked to complete problems, cases, and discussions on these topics, showing work and responding to classmates. The final assignment involves creating an outline for an audit plan covering client selection, internal controls, substantive tests, and reporting for a case study company.
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Week 4 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 4 Homework Questions
Questions 1 and 2 were taken directly from the text and I am aware that the answers are available through an internet search.
I want to remind you that searching the internet for the answers and using those answers is a violation of UMUC academic integrity policies.
In addition, using any outside source without citation is plagiarism.
However, just gaining access to the answers will not satisfy the homework assignment because I have added the requirement that you explain your answers, which cannot be found on the internet and needs to be reasoned out from the material in the chapter.
In grading, I will place more emphasis you explanation than your selection of the correct alternative.
1)
The following are several multiple choice questions adapted from the CPA exam that concern the persuasiveness of evidence.
For each question, selected the best answer and then explain why it is better than all the alternatives.
Your explanations should address all the possible alternatives presented in the question.
a)
Which of the following types of documentary evidence should the auditor considered to be the most reliable and why?
i)
A sales invoice issued by the client and supported by a delivery receipt from an outside trucker.
ii)
Confirmation of an account payable balance mailed by and returned directly to the auditor.
iii)
A check, issued by the company and bearing the payee's endorsement, that is included with the bank statements mailed directly to the auditor.
iv)
An audit schedule prepared by the client's controller and reviewed by the client's treasurer.
Answer:
Explanation
:
b)
Which of the following statements concerning audit evidence is true?
i)
To be appropriate, audit evidence should be either persuasive or relevant, but need not be reliable.
ii)
The measure of the quantity and quality of audit evidence lies in the auditor's judgment.
iii)
The difficulty and expense of obtaining audit evidence concerning an account balance is a valid basis for omitting the test.
iv)
A client's accounting records can be sufficient audit evidence to support the financial statements.
Answer:
Explanation
:
c)
Audit evidence can come in different forms with different degrees of persuasiveness.
Which of the following is the least persuasive type of evidence?
i)
Vendor's invoice
ii)
Bank statement obtained from the client
iii)
Computations made by the auditor
iv)
Prenumbered sales invoices
Answer:
Explanation
:
d)
Which of the following presumptions is correct about the reliability of audit evidence?
i)
Information obtained indirectly from outside sources is the most reliable audit evidence.
ii)
To be reliable, audit evidence should be convincing rather than merely persuasive.
iii)
Reliability of audit evidence refers to the amount of corroborative evidence obtained.
iv)
Effective internal control provides more assurance about the reliability of audit evidence.
Answer:
Explanation
:
2)
T.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. Students are asked to evaluate statements, complete problems, discuss topics, and respond to other students' posts on several auditing issues and cases. The course appears to provide a comprehensive overview of auditing principles and practices.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes discussions of internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. The document outlines various audit tasks and assignments, including evaluating statements, listing standards violated in a case study, projecting financials, assessing internal control deficiencies, comparing common law and securities law, and developing an audit plan outline.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. Students are asked to evaluate statements, complete problems, discuss topics, and respond to other students' posts on several auditing issues and cases.
c
The document provides an overview of the course material for ACC 410 Entire Course Material- Auditing. It includes 14 discussion questions and assignments covering topics such as:
- The differences between internal and external audit staff relationships with a company.
- Conditions under which different types of audit reports may be issued, such as unmodified or qualified reports.
- Cases involving compliance with generally accepted auditing standards and procedures for topics like analytical procedures, internal controls, audit programs, and ethics.
The material asks students to evaluate statements, analyze case studies, describe audit processes, and discuss standards in order to demonstrate understanding of fundamental auditing concepts. Students are also instructed to respond to classmates' postings on the various discussion
Midterm Exam Fall 2015ACCT 612 – AuditingInstructionsAft.docx
Midterm Exam Fall 2015
ACCT 612 – Auditing
Instructions
After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate on my machine (i.e., "Jim Peters Mid.doc").
Type all your answers in this document.
Once you have completed the exam, submit your completed Word files by attaching them to the Midterm assignment in LEO by midnight, November 1st. I will assess a 5% per day late penalty for late exams.
If you need clarification on the wording of any question on the exam, you can e-mail me or call me at the phone numbers listed in my contact information.
I will not accept direct quotes in your answers. If you use outside sources, you need to paraphrase the material in your own words.
I will deduct points for not following these instructions. For example, I will deduct points if you do not type your answers in this document and submit some other type of file; if you do not attached your file to the assignment; or if you do not rename your file as instructed above.
I have posted a spreadsheet file, which I refer to as a grading checklist, with this exam. That spreadsheet file shows you how I have allocated points to questions. When grading your exams, I will fill in a copy of this file for each student and return it with your graded exam. When I grade exams, I embed comments in the Word documents to explain why I am deducting points.
Course Policy on Collaboration and Individual Work
This exam is an individual assignment. You are not to discuss it with anyone other than myself. It is also open book and open note. However, it is not a research assignment and I want you to base your answers to the questions on the material I have included in the exam, the text for the course, and the materials I have handed out in class.
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs. You can use lists where appropriate if you want.
You are a partner in a medium-sized, regional CPA firm and have been approached by XYZ, Inc., a relatively small, public company, to do their audit for next year. XYZ is registered with the SEC and has filed audited 10-Ks for the last 10 years since they went public. They haven't indicated why they are switching auditors.
XYZ specializes in developing shale gas using fracking technology. Fracking technology involves drilling wells into shale formations and injecting high pressure water containing special chemicals into the well to fracture the shale formation and release the trapped natural gas.
You and your firm currently are members of the AICPA. All the partners and managers are licensed CPAs in the state of New Mexico and also members of the AICPA. Your firm has limited experience with oil and gas extraction and has no other fracking clients. However, your firm has offices that ...
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are directed to various external links to access additional course content and assignments. The assignments require analyzing audit-related cases, problems, and statements; identifying auditing standards and controls; projecting financial statements; and outlining audit plans and procedures.
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are asked to complete problems, cases, and discussions on these topics, showing work and responding to classmates. The final assignment involves creating an outline for an audit plan covering client selection, internal controls, substantive tests, and reporting for a case study company.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics, such as the differences between internal and external audits, evaluating audit reports, generally accepted auditing standards, analytical procedures, internal controls, audit programs, and audit reporting. Students are instructed to respond to questions, complete problems, and discuss various auditing concepts in 2-3 page papers or responses to classmates. The course appears to provide comprehensive coverage of auditing standards, procedures, and practices.
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs. external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are asked to complete problems, cases, and discussions on these topics, showing work and responding to classmates. The final assignment involves creating an outline for an audit plan covering client selection, internal controls, substantive tests, and reporting for a case study company.
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are asked to complete problems, cases, and discussions on these topics, showing work and responding to classmates. The final assignment involves creating an outline for an audit plan covering client selection, internal controls, substantive tests, and reporting for a case study company.
Midterm Exam Fall 2015 ACCT 612 – Auditing Instructions • After you .docx
Midterm Exam Fall 2015 ACCT 612 – Auditing Instructions • After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate o
Midterm Exam Fall 2015
ACCT 612 – Auditing
Instructions
·
After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate on my machine (i.e., "Jim Peters Mid.doc").
·
Type all your answers in this document.
·
Once you have completed the exam, submit your completed Word files by attaching them to the Midterm assignment in LEO by midnight, November 1st.
I will assess a 5% per day late penalty for late exams.
·
If you need clarification on the wording of any question on the exam, you can e-mail me or call me at the phone numbers listed in my contact information.
·
I will not accept direct quotes in your answers.
If you use outside sources, you need to paraphrase the material in your own words.
·
I will deduct points for not following these instructions.
For example, I will deduct points if you do not type your answers in this document and submit some other type of file; if you do not attached your file to the assignment; or if you do not rename your file as instructed above.
I have posted a spreadsheet file, which I refer to as a grading checklist, with this exam.
That spreadsheet file shows you how I have allocated points to questions.
When grading your exams, I will fill in a copy of this file for each student and return it with your graded exam.
When I grade exams, I embed comments in the Word documents to explain why I am deducting points.
Course Policy on Collaboration and Individual Work
This exam is an individual assignment.
You are not to discuss it with anyone other than myself.
It is also open book and open note.
However, it is not a research assignment and I want you to base your answers to the questions on the material I have included in the exam, the text for the course, and the materials I have handed out in class.
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs.
You can use lists where appropriate if you want.
1)
You are a partner in a medium-sized, regional CPA firm and have been approached by XYZ, Inc., a relatively small, public company, to do their audit for next year.
XYZ is registered with the SEC and has filed audited 10-Ks for the last 10 years since they went public.
They haven't indicated why they are switching auditors.
XYZ specializes in developing shale gas using fracking technology.
Fracking technology involves drilling wells into shale formations and injecting high pressure water containing special chemicals into the well to fracture the shale formation and release the trapped natural gas.
You and your firm currently .
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Five college seniors discuss career plans in auditing. The first plans to be an IRS agent focused on taxes. The second wants to work for a CPA firm for experience in auditing and related fields. The third chose a career in internal auditing for exposure to different parts of large companies. The fourth aims to be a GAO auditor for experience in computer risk assessment. The fifth wants to be a certified fraud examiner but is unsure where to begin.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics, such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. Students are asked to evaluate statements, complete problems, discuss topics, and respond to other students' posts on many of these auditing issues. The course appears to provide a comprehensive overview of auditing practices and standards.
QuestionsNone of these questions has a style component, thus y.docx
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs. You can use lists where appropriate if you want.
1) You have been approached by a local lumber producer who specializes in buying logs that have been thinned from the local forests around Las Vegas, NM and turning them into high quality lumber for things like flooring and molding in homes and businesses. The firm is a small, closely held corporation where the founder and his family members hold all the stock and, therefore, does not register with the SEC. You will be doing the first external audit that this firm has had done in its short lifetime. You currently are a member of the AICPA and you are a CPA with a license to practice in New Mexico.
a) Develop a checklist of five areas or issues that you would want to research before you accepted this firm as an audit client and give an example of where you might go to get some information about each issue. Also, explain why you selected the area or issue, other than it is required by standards. That is, I want an explanation how the information might affect your client acceptance decision. Make your explanation and selections specific to this firm.
b) Describe three organizations, boards, or groups that have legal authority to regulate aspects of your audit of this client and discuss how that organization, board, or group would regulate your work on this audit.
c) Describe two reasons why this firm might be seeking an audit. I am looking for substantive reasons that show that you understand the importance of auditing in capital markets. That is, I am not just looking for a possible transaction the firm might engage in that might be facilitated by an audit. I want an explanation of how an audit would facilitate that transaction.
2) Each of the following situations involves a possible violation by a member in industry of the AICPA's Code of Professional Conduct. For each situation, indicate whether it violates the Code. If it violates the Code, indicate which rule is violated and explain why. If you don't think it violations a rule, explain why as well.
2. Mitch Rider is the partner-in-charge of the audit of ABC, Inc. Over the years, he has become a golfing buddy of ABC's CEO, Shelly Rhoades. During the current year Rider and Rhoades jointly purchased an exclusive vacation home in North Carolina. The vacation home represents more than 10 percent of Rider's personal wealth.
a) You are auditing a firm that you have audited for years. However, the auditee has yet to pay their full fee from last year's audit and you have turned the matter over to a collection agency.
b) During the audit of a client, you found that the manager on the job had not reviewed a staff accountant's verification of the auditee's inventory balance at year-end. The client was a manufacturing firm and inventory represented 30% of their assets.
c) During the a ...
Midterm Exam Fall 2015ACCT 612 – AuditingInstructions·.docx
Midterm Exam Fall 2015
ACCT 612 – Auditing
Instructions
·
After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate on my machine (i.e., "Jim Peters Mid.doc").
·
Type all your answers in this document.
·
Once you have completed the exam, submit your completed Word files by attaching them to the Midterm assignment in LEO by midnight, November 1st.
I will assess a 5% per day late penalty for late exams.
·
If you need clarification on the wording of any question on the exam, you can e-mail me or call me at the phone numbers listed in my contact information.
·
I will not accept direct quotes in your answers.
If you use outside sources, you need to paraphrase the material in your own words.
·
I will deduct points for not following these instructions.
For example, I will deduct points if you do not type your answers in this document and submit some other type of file; if you do not attached your file to the assignment; or if you do not rename your file as instructed above.
I have posted a spreadsheet file, which I refer to as a grading checklist, with this exam.
That spreadsheet file shows you how I have allocated points to questions.
When grading your exams, I will fill in a copy of this file for each student and return it with your graded exam.
When I grade exams, I embed comments in the Word documents to explain why I am deducting points.
Course Policy on Collaboration and Individual Work
This exam is an individual assignment.
You are not to discuss it with anyone other than myself.
It is also open book and open note.
However, it is not a research assignment and I want you to base your answers to the questions on the material I have included in the exam, the text for the course, and the materials I have handed out in class.
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs.
You can use lists where appropriate if you want.
1)
You are a partner in a medium-sized, regional CPA firm and have been approached by XYZ, Inc., a relatively small, public company, to do their audit for next year.
XYZ is registered with the SEC and has filed audited 10-Ks for the last 10 years since they went public.
They haven't indicated why they are switching auditors.
XYZ specializes in developing shale gas using fracking technology.
Fracking technology involves drilling wells into shale formations and injecting high pressure water containing special chemicals into the well to fracture the shale formation and release the trapped natural gas.
You and your firm currently are members of the AICPA.
All the partners and managers are licensed CPAs in the state of New Mexico and also members of the AICPA.
Your firm has limited experience with oil and gas extraction and has no other fracking clients.
However, your firm has .
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The document outlines an audit program for testing trade receivables for Sheridan AV for the year ending March 31, 2021. Substantive testing is to be carried out on the statement of financial position to assess presentation and disclosure, accuracy/classification/valuation, rights and obligations, completeness and cut-off, and existence. Tests include vouching samples of receivables to supporting documentation, testing bad debt provisions, and cut-off testing of sales and returns. A trade receivables circularization is also to be performed. The auditor notes issues with amounts presented, calculations, and lack of support for bad debts, but otherwise the receivables appear fairly stated subject to matters highlighted.
trade receivable and trade payable
The document discusses auditing procedures for trade receivables and payables. It outlines the objectives of auditing these accounts which include existence, completeness, valuation, and disclosure. It then describes relevant assertions and provides examples of substantive audit tests that can be used, such as direct confirmation of receivable and payable balances, testing sales and purchase transactions, and verifying the aging of receivables. Routine procedures and internal controls for accounts payable are also discussed.
Auditing exam i
The document discusses several audit-related topics:
1. Standards of fieldwork that would be required for auditing large clients of a CPA firm, including planning and performing the audit to obtain reasonable assurance of detecting misstatements.
2. Deficiencies in an example audit report, asking to identify at least 5 issues.
3. Calculating financial metrics like return on assets, current ratio, and return on equity based on financial information provided.
4. Calculating correct interest expense based on loan balances and interest rates that change during the year.
5. Using the audit risk model to determine detection risk and how much evidence needs to be collected for accounts receivable based on inherent and control risk assessments.
7WEEK 2 TEAM ASSIGNMENTWeek 2 .docx
7
WEEK 2 TEAM ASSIGNMENT
Week 2 Team Assignment
Learning Team C:
Leigha Covington, Lauren Immel, Melissa Simmons, and Toni Winiavski
ACC/492
January 30, 2017
Ding Hardin
When conducting audits, it is important to follow specific auditing procedures to ensure accuracy and quality. To provide the best type of audit we must create steps for each type of account in sub-steps to ensure that the system that conducts the audit provides accurate reports. The types of accounts that we should audit will be cash, Financial instruments such as cash counting machines registers or anything their processes the transactions, sales audit, receivable accounts audit, and the types of Cycles. Each step in all audits contains work programs that help determine if the systems are fully integrated within each other to communicate effectively for the program to work.
Audit
I. Understand what needs to be audited.
A. Get proper documents to audit
1. Copies of the company’s incorporation documents
2. Chart of accounts:
3. Organization chart
4. Internal control documentation
5. Stock and bond issuances
6. Prior years’ analytical procedures
B. Create audit plan
Cash
· List of all users who handle cash
· List of transactions and receipts
· Confirm accuracy of records
· Find errors or test for errors
· Make sure all cash/ sales have been finalized
· Collect bank records/ deposits with receipts
· Accounts receivable records/ checks that have been processed
· Debts are satisfied
· Update loss prevention
· Review Financial Instruments
· Assess types of financial instruments
· Determine what type of audit procedures should be used (AICPA standards?)
· Review cash flow to understand the total usage of instruments
· Review activity logs; security/ checkpoint logs; user logs
· Make sure data is backed up/saved
· Sales Audit
· Gather data to be reviewed
· Review sales process
· Review sales cost against sales revenue
· Evaluate system for effectiveness of a sale process
· Review internal structure to find strengths and weaknesses
· Review records
Accounts Receivable
· Review general ledger
· Make sure journal entries match and are detailed
· Test and review invoices to make sure accounts have been billed correctly
· Write off bad debts
· Make sure sales were processed in the correct financial period
· Create a trend analysis
· Cycle audit to ensure cycle is not providing redundant info
· Finalize audit
· Review audit
· Present results
AUDIT PROGRAM FOR SALES
I. External customer confirmations
a. Test the balances confirmed against general ledger balances
II. Confirm that sales are recorded in the proper periods
a. Review invoices and shipping documentation to evaluate timing
III. Accounts Receivable includes all balances owed to the entity at reporting date
a. Test invoices that were issued around period closing date to evaluate timeliness
IV. Accounts receivable balances are owed to the entity and not outside parties
a. Test general procedure to ensure.
Ch7 Quiz Questions And Solutions
The document contains quiz questions and solutions related to Chapter 7 on auditing internal controls. It addresses topics like the responsibilities of management and auditors in assessing internal controls over financial reporting, the objectives of internal control, and an auditor's responsibilities to consider fraud and errors. Key objectives of auditing internal controls are to form an opinion on their effectiveness in preventing material misstatements and to evaluate controls over financial statement disclosures. Auditors must test internal controls rather than rely solely on the work of others.
Suggested Answers-Certificate Level (May-June 2017)
The document is a knowledge level exam paper from the Institute of Chartered Accountants of Bangladesh. It contains questions on assurance, internal control, internal and external audit. The paper covers key concepts in these areas like the two types of assurance engagements, objectives of internal control, components of internal control like control environment and risk assessment process, roles of internal and external audit functions and key differences between them. It provides suggested answers to questions testing understanding of these fundamental assurance, internal control and audit concepts.
1 Assessment Task – Tutorial Questions Assignment
This document provides instructions for an assignment assessing students' knowledge of auditing topics covered in the unit. It consists of 6 questions from tutorial weeks 3, 4, 5, 6, 7 and 11. Students are required to answer the questions in a single document and submit it through Blackboard by the due date. The document outlines the purpose, learning outcomes assessed, description of the task, submission details, and policies regarding academic integrity.
1 Assessment Task – Tutorial Questions Assignment
1
Assessment Task – Tutorial Questions Assignment
Unit Code: HA3032
Unit Name: Auditing
Assignment: Tutorial Questions Assignment (Individual)
Due: Week 13 - Friday 16th October 2020 (11:30PM)
Weighting: 50%
Total Mark: 50 Marks
Purpose:
This assignment is designed to assess your level of knowledge of the key topics covered in this unit
Unit Learning Outcomes Assessed:
1. Demonstrate a thorough understanding of the reporting requirements of
auditing standards relating to auditors’ reports.
2. Explain how the audit planning process directs the auditor to obtain adequate
evidence to support audit findings and address the importance of materiality in
an audit.
3. Explain the process of audit planning to determine risk assessments and an overall audit
strategy.
4. Explain the auditors’ obligations with regards to understanding the client’s
business and internal controls and assessing business risks.
5. Achieve a high level of competence in applying prescribed auditing techniques
in gathering evidence to satisfy audit assertions.
Description:
Each week students were provided with three tutorial questions of varying degrees of difficulty.
These tutorial questions are available in the Tutorial Folder for each week on Blackboard. The
Interactive Tutorials are designed to assist students with the process, skills and knowledge to answer
the provided tutorial questions. Your task is to answer a selection of tutorial questions from weeks
3 ,4 ,5 ,6 ,7 & 11 inclusive and submit these answers in a single document.
2
The questions to be answered are:
Question 1 (7 marks)
(This question is from the Week 3 Tutorial)
You have reviewed the work performed by your assistant, Raymond Snow, on the audit of Tin Ltd
for the year ended 30 June 20X8 and you have noted the following two independent matters:
(i) In testing investments in listed securities, Raymond selected all shareholdings with a market
value above $200,000 and checked them to the closing market value reported by the
Australian Stock Exchange (ASX) to determine the net realisable value of each shareholding.
The items tested totaled $5,500,000 or 60% of the total balance. Of the items tested, only
one error of $110,000 was discovered. Raymond concluded that the error was not itself
material, as it was only 2% of the balance tested. He extrapolated this error to the total
population and estimated that the error for the total population would be $185,000, which
was also immaterial. Therefore, he concluded that the investments in listed securities were
fairly stated at the lower of cost or net realisable value.
(ii) Tin Ltd has 1,000 stock lines that are maintained on a perpetual inventory system. Stock is
counted on a cyclical basis so that all lines are covered at least once per year. Raymond
attended the March stocktake to observe the counting procedu ...
Week 5 Microskills ScenarioLaura is a relatively new client w.docx
Week 5: Microskills Scenario
Laura is a relatively new client who presented with a reduced level of motivation and difficulty concentrating at her job. She has experienced difficulty falling asleep and has been eating more junk food than usual. Laura shared that she has some doubts about her ability to work at the same level as others in her department; these feelings increased after a recent promotion which required her to relocate. She sees herself as typically not needing help and as the “one who gets things done,” so her loss of motivation is quite distressing to her. She described herself as someone who is usually taking care of others. This tendency was fostered in her family of origin due to her parents’ spending a lot of time outside of the home in their jobs, which left Laura to take on a lot of parenting duties with her two younger siblings.
During the most recent session, Laura focused on her relationship with her partner, Tamara. Tamara is
still living in the city where they met, which is a three-hour drive from where Laura is now living for her new position.
She disclosed that Tamara has a history of cheating on her partners and also blaming them for not fulfilling her needs. Laura wants to set boundaries with her because she needs more time for herself and her job, but she worries that if she does not give Tamara enough time, Tamara will cheat on Laura. Laura also noted that about a month ago, Tamara lied to her about where she was going, and Laura found out through someone else that Tamara was at a sporting event with a woman she dated in the past. When Laura confronted Tamara about this, she justified it by saying that it was innocent. Tamara said she did not tell Laura because she did not want Laura’s feelings to get hurt. Ultimately, Laura believes that no matter what she does or how much she tries to meet Tamara’s needs, if Tamara does not work through this issue for herself, she may still look outside the relationship to get some needs met. At the end of the session, Laura said it felt really good to talk about this issue. She has been thinking about it a lot but did not want to talk to friends because she did not want them to look at or treat Tamara differently and because she did not want her friends to think that they were having problems. But it has been on her mind, and she felt very good about being able to talk about her concerns in therapy.
Post by Day 4
a brief description of the three skills you selected. Then, provide an example of how you might use each skill with the client in the scenario. Include a sample statement for each skill that demonstrates what you might say to the client in the scenario.
Support your Discussion assignment with specific resources used in its preparation. You are asked to provide a reference for all resources, including those in the Learning Resources for this course.
.
Week 5 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 5 Homework Questions
Questions 1 and 2 were taken directly from the text and I am aware that the answers are available through an internet search.
I want to remind you that searching the internet for the answers and using those answers is a violation of UMUC academic integrity policies.
In addition, using any outside source without citation is plagiarism.
However, just gaining access to the answers will not satisfy the homework assignment because I have added the requirement that you explain your answers, which cannot be found on the internet and needs to be reasoned out from the material in the chapter.
In grading, I will place more emphasis you explanation than your selection of the correct alternative.
1)
The following are several multiple choice questions adapted from the CPA exam that cover the concept and application of materiality.
For each question, selected the best answer and then explain why it is better than all the alternatives.
Your explanations should address all the possible alternatives presented in the question.
a)
Which one of the following statements is correct concerning the concept of materiality?
i)
Materiality is determined by reference to guidelines established by the AICPA.
ii)
Materiality depends only on the dollar amount of an item relative to other items in the financial statements.
iii)
Materiality depends on the nature of an item rather than the dollar amount.
iv)
Materiality is a matter of professional judgment.
Answer:
Explanation
:
b)
In considering materiality for planning purposes, an auditor believes that misstatements aggregating $10,000 will have a material effect on an entity's income statement, but that misstatements will have to aggregate $20,000 to materially affect the balance sheet.
Ordinarily, it is appropriate to design audit procedures that are expected to detect misstatements that aggregate to
i)
$10,000
ii)
$15,000
iii)
$20,000
iv)
$30,000
Answer:
Explanation
:
c)
A client decides not to record an auditor's proposed adjustments that collectively are not material and wants the auditor to issue the report based on the unadjusted numbers.
Which of the following statements is correct regarding the financial statement presentation?
i)
The financial statements are free from material misstatement, and no disclosure is required in the notes to the financial statements.
ii)
The financial statements do not conform with generally accepted accounting principles (GAAP).
iii)
The financial statements contain unadjusted misstatements that should result in a qualified opinion.
iv)
The financial statements are free from material misstatement, but disclosure of the proposed adjustment is required in the notes to the financial statements.
Answer:
Explanation
:
2)
The following are several multiple choice questions adapted from the CPA exam that cover audit risk.
For each question, selected the best answer and then explain why it is better than all the alternative.
More Related Content
Similar to Week 3 Homework Questions1)The following questions are based.docx
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics, such as the differences between internal and external audits, evaluating audit reports, generally accepted auditing standards, analytical procedures, internal controls, audit programs, and audit reporting. Students are instructed to respond to questions, complete problems, and discuss various auditing concepts in 2-3 page papers or responses to classmates. The course appears to provide comprehensive coverage of auditing standards, procedures, and practices.
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs. external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are asked to complete problems, cases, and discussions on these topics, showing work and responding to classmates. The final assignment involves creating an outline for an audit plan covering client selection, internal controls, substantive tests, and reporting for a case study company.
Acc 410 entire course material auditing
This document provides materials for an entire auditing course, including descriptions and instructions for multiple assignments on topics such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and comprehensive exams. Students are asked to complete problems, cases, and discussions on these topics, showing work and responding to classmates. The final assignment involves creating an outline for an audit plan covering client selection, internal controls, substantive tests, and reporting for a case study company.
Midterm Exam Fall 2015 ACCT 612 – Auditing Instructions • After you .docx
Midterm Exam Fall 2015 ACCT 612 – Auditing Instructions • After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate o
Midterm Exam Fall 2015
ACCT 612 – Auditing
Instructions
·
After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate on my machine (i.e., "Jim Peters Mid.doc").
·
Type all your answers in this document.
·
Once you have completed the exam, submit your completed Word files by attaching them to the Midterm assignment in LEO by midnight, November 1st.
I will assess a 5% per day late penalty for late exams.
·
If you need clarification on the wording of any question on the exam, you can e-mail me or call me at the phone numbers listed in my contact information.
·
I will not accept direct quotes in your answers.
If you use outside sources, you need to paraphrase the material in your own words.
·
I will deduct points for not following these instructions.
For example, I will deduct points if you do not type your answers in this document and submit some other type of file; if you do not attached your file to the assignment; or if you do not rename your file as instructed above.
I have posted a spreadsheet file, which I refer to as a grading checklist, with this exam.
That spreadsheet file shows you how I have allocated points to questions.
When grading your exams, I will fill in a copy of this file for each student and return it with your graded exam.
When I grade exams, I embed comments in the Word documents to explain why I am deducting points.
Course Policy on Collaboration and Individual Work
This exam is an individual assignment.
You are not to discuss it with anyone other than myself.
It is also open book and open note.
However, it is not a research assignment and I want you to base your answers to the questions on the material I have included in the exam, the text for the course, and the materials I have handed out in class.
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs.
You can use lists where appropriate if you want.
1)
You are a partner in a medium-sized, regional CPA firm and have been approached by XYZ, Inc., a relatively small, public company, to do their audit for next year.
XYZ is registered with the SEC and has filed audited 10-Ks for the last 10 years since they went public.
They haven't indicated why they are switching auditors.
XYZ specializes in developing shale gas using fracking technology.
Fracking technology involves drilling wells into shale formations and injecting high pressure water containing special chemicals into the well to fracture the shale formation and release the trapped natural gas.
You and your firm currently .
auditing amp assurance services.docx
Five college seniors discuss career plans in auditing. The first plans to be an IRS agent focused on taxes. The second wants to work for a CPA firm for experience in auditing and related fields. The third chose a career in internal auditing for exposure to different parts of large companies. The fourth aims to be a GAO auditor for experience in computer risk assessment. The fifth wants to be a certified fraud examiner but is unsure where to begin.
Acc 410 entire course material auditing
This document provides an overview of course materials for ACC 410 Entire Course Material- Auditing. It includes descriptions and questions related to various auditing topics, such as internal vs external audits, audit reports, generally accepted auditing standards, analytical procedures, internal controls, legal and ethics cases, and audit planning and reporting. Students are asked to evaluate statements, complete problems, discuss topics, and respond to other students' posts on many of these auditing issues. The course appears to provide a comprehensive overview of auditing practices and standards.
QuestionsNone of these questions has a style component, thus y.docx
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs. You can use lists where appropriate if you want.
1) You have been approached by a local lumber producer who specializes in buying logs that have been thinned from the local forests around Las Vegas, NM and turning them into high quality lumber for things like flooring and molding in homes and businesses. The firm is a small, closely held corporation where the founder and his family members hold all the stock and, therefore, does not register with the SEC. You will be doing the first external audit that this firm has had done in its short lifetime. You currently are a member of the AICPA and you are a CPA with a license to practice in New Mexico.
a) Develop a checklist of five areas or issues that you would want to research before you accepted this firm as an audit client and give an example of where you might go to get some information about each issue. Also, explain why you selected the area or issue, other than it is required by standards. That is, I want an explanation how the information might affect your client acceptance decision. Make your explanation and selections specific to this firm.
b) Describe three organizations, boards, or groups that have legal authority to regulate aspects of your audit of this client and discuss how that organization, board, or group would regulate your work on this audit.
c) Describe two reasons why this firm might be seeking an audit. I am looking for substantive reasons that show that you understand the importance of auditing in capital markets. That is, I am not just looking for a possible transaction the firm might engage in that might be facilitated by an audit. I want an explanation of how an audit would facilitate that transaction.
2) Each of the following situations involves a possible violation by a member in industry of the AICPA's Code of Professional Conduct. For each situation, indicate whether it violates the Code. If it violates the Code, indicate which rule is violated and explain why. If you don't think it violations a rule, explain why as well.
2. Mitch Rider is the partner-in-charge of the audit of ABC, Inc. Over the years, he has become a golfing buddy of ABC's CEO, Shelly Rhoades. During the current year Rider and Rhoades jointly purchased an exclusive vacation home in North Carolina. The vacation home represents more than 10 percent of Rider's personal wealth.
a) You are auditing a firm that you have audited for years. However, the auditee has yet to pay their full fee from last year's audit and you have turned the matter over to a collection agency.
b) During the audit of a client, you found that the manager on the job had not reviewed a staff accountant's verification of the auditee's inventory balance at year-end. The client was a manufacturing firm and inventory represented 30% of their assets.
c) During the a ...
Midterm Exam Fall 2015ACCT 612 – AuditingInstructions·.docx
Midterm Exam Fall 2015
ACCT 612 – Auditing
Instructions
·
After you have downloaded this document from the Midterm Exam Assignment, please save a copy of this document and rename it using your own name as the file name so that I can keep them separate on my machine (i.e., "Jim Peters Mid.doc").
·
Type all your answers in this document.
·
Once you have completed the exam, submit your completed Word files by attaching them to the Midterm assignment in LEO by midnight, November 1st.
I will assess a 5% per day late penalty for late exams.
·
If you need clarification on the wording of any question on the exam, you can e-mail me or call me at the phone numbers listed in my contact information.
·
I will not accept direct quotes in your answers.
If you use outside sources, you need to paraphrase the material in your own words.
·
I will deduct points for not following these instructions.
For example, I will deduct points if you do not type your answers in this document and submit some other type of file; if you do not attached your file to the assignment; or if you do not rename your file as instructed above.
I have posted a spreadsheet file, which I refer to as a grading checklist, with this exam.
That spreadsheet file shows you how I have allocated points to questions.
When grading your exams, I will fill in a copy of this file for each student and return it with your graded exam.
When I grade exams, I embed comments in the Word documents to explain why I am deducting points.
Course Policy on Collaboration and Individual Work
This exam is an individual assignment.
You are not to discuss it with anyone other than myself.
It is also open book and open note.
However, it is not a research assignment and I want you to base your answers to the questions on the material I have included in the exam, the text for the course, and the materials I have handed out in class.
Questions
None of these questions has a style component, thus you don't have to write in complete sentences and well-formed paragraphs.
You can use lists where appropriate if you want.
1)
You are a partner in a medium-sized, regional CPA firm and have been approached by XYZ, Inc., a relatively small, public company, to do their audit for next year.
XYZ is registered with the SEC and has filed audited 10-Ks for the last 10 years since they went public.
They haven't indicated why they are switching auditors.
XYZ specializes in developing shale gas using fracking technology.
Fracking technology involves drilling wells into shale formations and injecting high pressure water containing special chemicals into the well to fracture the shale formation and release the trapped natural gas.
You and your firm currently are members of the AICPA.
All the partners and managers are licensed CPAs in the state of New Mexico and also members of the AICPA.
Your firm has limited experience with oil and gas extraction and has no other fracking clients.
However, your firm has .
Five Strategies to Consider as You Seek Capital for Your Business
The document provides guidance on obtaining capital for a new or growing business. It outlines key components of an effective loan package, including thorough background information on the business/idea, financials, and owners. It emphasizes demonstrating that the debt can be repaid through credible projections and financial strength. While rate is important, reducing risk and building relationships with lenders are also critical to securing favorable terms. Prospective business owners should prepare in advance, expect rejections, and work to improve their package based on feedback.
Moses San Miguel
The document discusses audit objectives and procedures for accounts receivable and revenue transactions. It aims to substantiate the existence and occurrence of receivables and revenue, establish completeness, determine client rights to receivables, verify valuation is at net realizable value, and ensure proper presentation. Procedures include confirming receivables with debtors, reviewing year-end cutoff of sales, and verifying independent verification of sales amounts.
Acc 492 Extraordinary Success/newtonhelp.com
This document outlines the course structure and assignments for ACC 492. It includes weekly summaries, discussion questions, and team assignments related to auditing topics such as sampling, cash, accounts receivable, and expense accounts. The team assignments involve analyzing the 10-K annual report of a public company (Amazon in this case) to develop audit programs for cash, financial instruments, sales, and receivables accounts. The course emphasizes applying auditing concepts from research articles to real-world auditing jobs.
Case 3_pp_final_v2 gr3
The engagement letter between the CPA firm Abernathy & Chapman and their audit client Lakeside Company outlines both parties' responsibilities. For Abernathy & Chapman, it specifies performing the audit to express an opinion on the financial statements, searching for material misstatements, reporting on internal controls and potential fee changes, and providing the final audit report by February 22, 2013. For Lakeside Company, it specifies paying the audit fee and providing interim and year-end trial balances and audit documents as specified.
Final visit receivables
The document outlines an audit program for testing trade receivables for Sheridan AV for the year ending March 31, 2021. Substantive testing is to be carried out on the statement of financial position to assess presentation and disclosure, accuracy/classification/valuation, rights and obligations, completeness and cut-off, and existence. Tests include vouching samples of receivables to supporting documentation, testing bad debt provisions, and cut-off testing of sales and returns. A trade receivables circularization is also to be performed. The auditor notes issues with amounts presented, calculations, and lack of support for bad debts, but otherwise the receivables appear fairly stated subject to matters highlighted.
trade receivable and trade payable
The document discusses auditing procedures for trade receivables and payables. It outlines the objectives of auditing these accounts which include existence, completeness, valuation, and disclosure. It then describes relevant assertions and provides examples of substantive audit tests that can be used, such as direct confirmation of receivable and payable balances, testing sales and purchase transactions, and verifying the aging of receivables. Routine procedures and internal controls for accounts payable are also discussed.
Auditing exam i
The document discusses several audit-related topics:
1. Standards of fieldwork that would be required for auditing large clients of a CPA firm, including planning and performing the audit to obtain reasonable assurance of detecting misstatements.
2. Deficiencies in an example audit report, asking to identify at least 5 issues.
3. Calculating financial metrics like return on assets, current ratio, and return on equity based on financial information provided.
4. Calculating correct interest expense based on loan balances and interest rates that change during the year.
5. Using the audit risk model to determine detection risk and how much evidence needs to be collected for accounts receivable based on inherent and control risk assessments.
7WEEK 2 TEAM ASSIGNMENTWeek 2 .docx
7
WEEK 2 TEAM ASSIGNMENT
Week 2 Team Assignment
Learning Team C:
Leigha Covington, Lauren Immel, Melissa Simmons, and Toni Winiavski
ACC/492
January 30, 2017
Ding Hardin
When conducting audits, it is important to follow specific auditing procedures to ensure accuracy and quality. To provide the best type of audit we must create steps for each type of account in sub-steps to ensure that the system that conducts the audit provides accurate reports. The types of accounts that we should audit will be cash, Financial instruments such as cash counting machines registers or anything their processes the transactions, sales audit, receivable accounts audit, and the types of Cycles. Each step in all audits contains work programs that help determine if the systems are fully integrated within each other to communicate effectively for the program to work.
Audit
I. Understand what needs to be audited.
A. Get proper documents to audit
1. Copies of the company’s incorporation documents
2. Chart of accounts:
3. Organization chart
4. Internal control documentation
5. Stock and bond issuances
6. Prior years’ analytical procedures
B. Create audit plan
Cash
· List of all users who handle cash
· List of transactions and receipts
· Confirm accuracy of records
· Find errors or test for errors
· Make sure all cash/ sales have been finalized
· Collect bank records/ deposits with receipts
· Accounts receivable records/ checks that have been processed
· Debts are satisfied
· Update loss prevention
· Review Financial Instruments
· Assess types of financial instruments
· Determine what type of audit procedures should be used (AICPA standards?)
· Review cash flow to understand the total usage of instruments
· Review activity logs; security/ checkpoint logs; user logs
· Make sure data is backed up/saved
· Sales Audit
· Gather data to be reviewed
· Review sales process
· Review sales cost against sales revenue
· Evaluate system for effectiveness of a sale process
· Review internal structure to find strengths and weaknesses
· Review records
Accounts Receivable
· Review general ledger
· Make sure journal entries match and are detailed
· Test and review invoices to make sure accounts have been billed correctly
· Write off bad debts
· Make sure sales were processed in the correct financial period
· Create a trend analysis
· Cycle audit to ensure cycle is not providing redundant info
· Finalize audit
· Review audit
· Present results
AUDIT PROGRAM FOR SALES
I. External customer confirmations
a. Test the balances confirmed against general ledger balances
II. Confirm that sales are recorded in the proper periods
a. Review invoices and shipping documentation to evaluate timing
III. Accounts Receivable includes all balances owed to the entity at reporting date
a. Test invoices that were issued around period closing date to evaluate timeliness
IV. Accounts receivable balances are owed to the entity and not outside parties
a. Test general procedure to ensure.
Ch7 Quiz Questions And Solutions
The document contains quiz questions and solutions related to Chapter 7 on auditing internal controls. It addresses topics like the responsibilities of management and auditors in assessing internal controls over financial reporting, the objectives of internal control, and an auditor's responsibilities to consider fraud and errors. Key objectives of auditing internal controls are to form an opinion on their effectiveness in preventing material misstatements and to evaluate controls over financial statement disclosures. Auditors must test internal controls rather than rely solely on the work of others.
Suggested Answers-Certificate Level (May-June 2017)
The document is a knowledge level exam paper from the Institute of Chartered Accountants of Bangladesh. It contains questions on assurance, internal control, internal and external audit. The paper covers key concepts in these areas like the two types of assurance engagements, objectives of internal control, components of internal control like control environment and risk assessment process, roles of internal and external audit functions and key differences between them. It provides suggested answers to questions testing understanding of these fundamental assurance, internal control and audit concepts.
1 Assessment Task – Tutorial Questions Assignment
This document provides instructions for an assignment assessing students' knowledge of auditing topics covered in the unit. It consists of 6 questions from tutorial weeks 3, 4, 5, 6, 7 and 11. Students are required to answer the questions in a single document and submit it through Blackboard by the due date. The document outlines the purpose, learning outcomes assessed, description of the task, submission details, and policies regarding academic integrity.
1 Assessment Task – Tutorial Questions Assignment
1
Assessment Task – Tutorial Questions Assignment
Unit Code: HA3032
Unit Name: Auditing
Assignment: Tutorial Questions Assignment (Individual)
Due: Week 13 - Friday 16th October 2020 (11:30PM)
Weighting: 50%
Total Mark: 50 Marks
Purpose:
This assignment is designed to assess your level of knowledge of the key topics covered in this unit
Unit Learning Outcomes Assessed:
1. Demonstrate a thorough understanding of the reporting requirements of
auditing standards relating to auditors’ reports.
2. Explain how the audit planning process directs the auditor to obtain adequate
evidence to support audit findings and address the importance of materiality in
an audit.
3. Explain the process of audit planning to determine risk assessments and an overall audit
strategy.
4. Explain the auditors’ obligations with regards to understanding the client’s
business and internal controls and assessing business risks.
5. Achieve a high level of competence in applying prescribed auditing techniques
in gathering evidence to satisfy audit assertions.
Description:
Each week students were provided with three tutorial questions of varying degrees of difficulty.
These tutorial questions are available in the Tutorial Folder for each week on Blackboard. The
Interactive Tutorials are designed to assist students with the process, skills and knowledge to answer
the provided tutorial questions. Your task is to answer a selection of tutorial questions from weeks
3 ,4 ,5 ,6 ,7 & 11 inclusive and submit these answers in a single document.
2
The questions to be answered are:
Question 1 (7 marks)
(This question is from the Week 3 Tutorial)
You have reviewed the work performed by your assistant, Raymond Snow, on the audit of Tin Ltd
for the year ended 30 June 20X8 and you have noted the following two independent matters:
(i) In testing investments in listed securities, Raymond selected all shareholdings with a market
value above $200,000 and checked them to the closing market value reported by the
Australian Stock Exchange (ASX) to determine the net realisable value of each shareholding.
The items tested totaled $5,500,000 or 60% of the total balance. Of the items tested, only
one error of $110,000 was discovered. Raymond concluded that the error was not itself
material, as it was only 2% of the balance tested. He extrapolated this error to the total
population and estimated that the error for the total population would be $185,000, which
was also immaterial. Therefore, he concluded that the investments in listed securities were
fairly stated at the lower of cost or net realisable value.
(ii) Tin Ltd has 1,000 stock lines that are maintained on a perpetual inventory system. Stock is
counted on a cyclical basis so that all lines are covered at least once per year. Raymond
attended the March stocktake to observe the counting procedu ...
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Week 5 Microskills ScenarioLaura is a relatively new client w.docx
Week 5: Microskills Scenario
Laura is a relatively new client who presented with a reduced level of motivation and difficulty concentrating at her job. She has experienced difficulty falling asleep and has been eating more junk food than usual. Laura shared that she has some doubts about her ability to work at the same level as others in her department; these feelings increased after a recent promotion which required her to relocate. She sees herself as typically not needing help and as the “one who gets things done,” so her loss of motivation is quite distressing to her. She described herself as someone who is usually taking care of others. This tendency was fostered in her family of origin due to her parents’ spending a lot of time outside of the home in their jobs, which left Laura to take on a lot of parenting duties with her two younger siblings.
During the most recent session, Laura focused on her relationship with her partner, Tamara. Tamara is
still living in the city where they met, which is a three-hour drive from where Laura is now living for her new position.
She disclosed that Tamara has a history of cheating on her partners and also blaming them for not fulfilling her needs. Laura wants to set boundaries with her because she needs more time for herself and her job, but she worries that if she does not give Tamara enough time, Tamara will cheat on Laura. Laura also noted that about a month ago, Tamara lied to her about where she was going, and Laura found out through someone else that Tamara was at a sporting event with a woman she dated in the past. When Laura confronted Tamara about this, she justified it by saying that it was innocent. Tamara said she did not tell Laura because she did not want Laura’s feelings to get hurt. Ultimately, Laura believes that no matter what she does or how much she tries to meet Tamara’s needs, if Tamara does not work through this issue for herself, she may still look outside the relationship to get some needs met. At the end of the session, Laura said it felt really good to talk about this issue. She has been thinking about it a lot but did not want to talk to friends because she did not want them to look at or treat Tamara differently and because she did not want her friends to think that they were having problems. But it has been on her mind, and she felt very good about being able to talk about her concerns in therapy.
Post by Day 4
a brief description of the three skills you selected. Then, provide an example of how you might use each skill with the client in the scenario. Include a sample statement for each skill that demonstrates what you might say to the client in the scenario.
Support your Discussion assignment with specific resources used in its preparation. You are asked to provide a reference for all resources, including those in the Learning Resources for this course.
.
Week 5 Homework QuestionsQuestions 1 and 2 were taken directly f.docx
Week 5 Homework Questions
Questions 1 and 2 were taken directly from the text and I am aware that the answers are available through an internet search.
I want to remind you that searching the internet for the answers and using those answers is a violation of UMUC academic integrity policies.
In addition, using any outside source without citation is plagiarism.
However, just gaining access to the answers will not satisfy the homework assignment because I have added the requirement that you explain your answers, which cannot be found on the internet and needs to be reasoned out from the material in the chapter.
In grading, I will place more emphasis you explanation than your selection of the correct alternative.
1)
The following are several multiple choice questions adapted from the CPA exam that cover the concept and application of materiality.
For each question, selected the best answer and then explain why it is better than all the alternatives.
Your explanations should address all the possible alternatives presented in the question.
a)
Which one of the following statements is correct concerning the concept of materiality?
i)
Materiality is determined by reference to guidelines established by the AICPA.
ii)
Materiality depends only on the dollar amount of an item relative to other items in the financial statements.
iii)
Materiality depends on the nature of an item rather than the dollar amount.
iv)
Materiality is a matter of professional judgment.
Answer:
Explanation
:
b)
In considering materiality for planning purposes, an auditor believes that misstatements aggregating $10,000 will have a material effect on an entity's income statement, but that misstatements will have to aggregate $20,000 to materially affect the balance sheet.
Ordinarily, it is appropriate to design audit procedures that are expected to detect misstatements that aggregate to
i)
$10,000
ii)
$15,000
iii)
$20,000
iv)
$30,000
Answer:
Explanation
:
c)
A client decides not to record an auditor's proposed adjustments that collectively are not material and wants the auditor to issue the report based on the unadjusted numbers.
Which of the following statements is correct regarding the financial statement presentation?
i)
The financial statements are free from material misstatement, and no disclosure is required in the notes to the financial statements.
ii)
The financial statements do not conform with generally accepted accounting principles (GAAP).
iii)
The financial statements contain unadjusted misstatements that should result in a qualified opinion.
iv)
The financial statements are free from material misstatement, but disclosure of the proposed adjustment is required in the notes to the financial statements.
Answer:
Explanation
:
2)
The following are several multiple choice questions adapted from the CPA exam that cover audit risk.
For each question, selected the best answer and then explain why it is better than all the alternative.
Week 5 JournalAs an educator, a large portion of learning and .docx
Week 5 Journal
As an educator, a large portion of learning and growth comes from reflection and refinement.
For this week’s journal, use this self-reflection rubric to evaluate the effectiveness of your lesson plan from Week Four.
Elaborate on the areas of strength in your lesson plan, as well as those areas in need of improvement.
provide an evaluation of at least three of your classmates’ lesson plans that were uploaded to the Doc Sharing Tab last week.
Using the rubric, provide justification and an explanation of how you scored their areas of strength and areas in need of improvement.
1.
What was easy for me in planning the lesson? Why?
2.
What components were difficult for me to complete when planning the lesson? Why?
3.
What do I want to improve on when creating lesson plans?
4.
How will this assignment help me in my future role?
Evaluate 3- peer’s Lesson plans
Evaluation of Peer’s Lesson Plan:
Strengths:
Areas of Reflection:
Evaluation of Peer’s Lesson Plan:
Strengths:
Areas of Reflection
Evaluation of Peer’s Lesson Plan:
Strengths:
Areas of Reflection
This is the three peers lesson plans, Listed below-
1
)
Lesson Plan Template –1 peer’s Name is
Mirna Roman
For a more detailed explanation, including examples, of each section within the Lesson Plan Template, please
view the Lesson Plan Handbook.
Lesson Plan Template – Overview
For a more detailed explanation, including examples, of each section within the Lesson Plan Template, please
view the Lesson Plan Handbook.
Content Area or Developmental Focus:
Age/Grade of Children:
Length of Lesson:
Goal The goal is the purpose of the lesson.
Objective The objective is what students will be able to
know or do at the end of the lesson.
Standards Included
Standards are the knowledge or skills that
students will be expected to demonstrate.
Depending on the age of the children you are
working with, you will choose the appropriate
standard from the list below:
Birth to Age 3: Developmental Milestones.
Click HERE to locate a developmental
milestone checklist that includes
developmental standards.
Ages 3 to 5: Early Learning Guidelines.
Click HERE to locate the Early Learning
Guidelines for your state.
Head Start Framework: If you work in a
Head Start program, please click HERE to
choose a standard from the Head Start Early
Learning Framework.
K-3: Click HERE to locate the Kindergarten
through 3rd grade standards for your state.
Materials The materials section lists all items needed
throughout a lesson.
Introduction
The introduction is how you will introduce
the activity so your students are interested,
engaged, and have the opportunity to think
about any background knowledge/experience
that they may have.
Lesson Development:
The lesson development section includes the
steps that you will take to teach the lesson
including any modeling, direct instruction,
centers, etc. that will be utilized. Sometimes
this is also refer.
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Week 5 discussion #1
Choose an immersive project approach or a webbing approach in the design of an integrated curriculum. Provide examples of each approach. Discuss their advantages and disadvantages. How are they different? Which approach makes the most sense to you? Is it possible to use both? When? Why?
.
Week 5 Microskills ScenarioLaura is a relatively ne.docx
Week 5: Microskills Scenario
Laura is a relatively new client who presented with a reduced level of motivation and difficulty concentrating at her job. She has experienced difficulty falling asleep and has been eating more junk food than usual. Laura shared that she has some doubts about her ability to work at the same level as others in her department; these feelings increased after a recent promotion which required her to relocate. She sees herself as typically not needing help and as the “one who gets things done,” so her loss of motivation is quite distressing to her. She described herself as someone who is usually taking care of others. This tendency was fostered in her family of origin due to her parents’ spending a lot of time outside of the home in their jobs, which left Laura to take on a lot of parenting duties with her two younger siblings.
During the most recent session, Laura focused on her relationship with her partner, Tamara. Tamara is
still living in the city where they met, which is a three-hour drive from where Laura is now living for her new position.
She disclosed that Tamara has a history of cheating on her partners and also blaming them for not fulfilling her needs. Laura wants to set boundaries with her because she needs more time for herself and her job, but she worries that if she does not give Tamara enough time, Tamara will cheat on Laura. Laura also noted that about a month ago, Tamara lied to her about where she was going, and Laura found out through someone else that Tamara was at a sporting event with a woman she dated in the past. When Laura confronted Tamara about this, she justified it by saying that it was innocent. Tamara said she did not tell Laura because she did not want Laura’s feelings to get hurt. Ultimately, Laura believes that no matter what she does or how much she tries to meet Tamara’s needs, if Tamara does not work through this issue for herself, she may still look outside the relationship to get some needs met. At the end of the session, Laura said it felt really good to talk about this issue. She has been thinking about it a lot but did not want to talk to friends because she did not want them to look at or treat Tamara differently and because she did not want her friends to think that they were having problems. But it has been on her mind, and she felt very good about being able to talk about her concerns in therapy.
Post by Day 4
a brief description of the three skills you selected. Then, provide an example of how you might use each skill with the client in the scenario. Include a sample statement for each skill that demonstrates what you might say to the client in the scenario.
Support your Discussion assignment with specific resources used in its preparation. You are asked to provide a reference for all resources, including those in the Learning Resources for this course.
.
WEEK 5SHINTOCosmogony - Origin of the UniverseNature of Go.docx
WEEK 5
SHINTO
Cosmogony - Origin of the Universe
Nature of God/Creator
View of Human Nature
View of Good & Evil
View of Salvation
View of After Life
Practices and Rituals
Celebrations & Festivals
Week 5 - Sources
.
Week 5 mini-questionsJavier is retiring from the JKL Partnership.docx
Week 5 mini-questions
Javier is retiring from the JKL Partnership. In January of the current year, he has a $100,000 basis in his partnership interest when he receives a$10,000 cash distribution. The partnership plans to distribute $10,000 each month this year, and Javier will cease to be a partner after the December payment. Is the January payment to Javier
a current distribution or a liquidating distribution?
§
Lia has a $40,000 basis in her partnership interest just before receiving a parcel of land as a non-liquidating (current) distribution. The partnership purchased the land, and Lia has no pre-contribution gain. Under what conditions will Lia's basis in the land be $40,000? Under what conditions will Lia's basis in the land be a carryover basis from the partnership's basis in the land?
Interest before receiving a non-liquidating (current) distribution of property having a $4,500 basis and a $6,000 FMV from the CDE Partnership. Cindy has a choice of receiving either inventory or a capital asset. She will hold the distributed property as an investment for no more than two years before she sells it. What tax difference (if any) will occur because of Cindy's selection of one property or the other to be distributed by the partnership?
Mariel has a $60,000 basis in her partnership interest just before receiving a parcel of land as a liquidating distribution. She has no remaining pre-contribution gain and will receive no other distributions. Under what conditions will Mariel's basis in the land be $60,000?
.
Week 4Atleast 200 wordsWhat were some differences between Byzant.docx
Week 4
Atleast 200 words
What were some differences between Byzantine Christianity (Eastern Church) and the Roman Catholic Christianity?
Week 5 at least 200 words
Islam was founded in the early 7th century.
By the 9th century, Islam had spread to Europe, Asia, and Africa.
Why did it spread so fast and so successful?
Week 6 atleast
200 words
How were the declines of the Aztec and Inca empires similar?
.
Week 4Cardiovascular DisordersVeins and arteries are vital eleme.docx
Week 4
Cardiovascular Disorders
Veins and arteries are vital elements of the cardiovascular system. They carry the blood supply through the body and are essential for proper function. Sometimes veins and arteries malfunction, resulting in cardiovascular disorders. Malfunctions of arteries and veins are similar to malfunctions of a water hose. Consider the structure and function of a hose. A tap releases water, which then travels through the hose and comes out the other end. If the hose has been dormant for several months, dirt and rusty particles might build up inside, resulting in a restricted flow of water. Similarly, buildup of plaque inside the coronary arteries restricts blood flow and leads to disorders such as coronary heart disease. This disease is one of the most common cardiovascular disorders, and according to the National Heart, Lung and Blood Institute (2011), is the leading cause of death for men and women in the United States. In this Discussion, you examine the pathophysiology of cardiovascular disorders such as coronary heart disease.
To prepare:
·
Review this week’s media presentation on alterations of cardiovascular functions, as well as Chapter 23 in the Huether and McCance text. Identify the pathophysiology of cardiovascular disorders.
·
Select one patient factor
: genetics, gender, ethnicity, age, or
behavior
. Consider how the factor you selected might impact the pathophysiology of cardiovascular disorders.
·
Select one of the following alterations of cardiovascular disorders
: peripheral arterial disease, myocardial infarction, coronary artery disease,
congestive heart failure,
or dysrhythmia. Think about how hypertension or dyslipidemia can lead to the alteration you selected.
Post a 1 page paper APA format
1 a thorough description of the
pathophysiology of cardiovascular disorders
, including how the factor you selected might impact the pathophysiology.
2 Then, explain how hypertension or dyslipidemia can lead to the alteration you selected for patients with the factor you identified.
Course resources
·
Huether, S. E., & McCance, K. L. (2012).
Understanding pathophysiology
(Laureate custom ed.). St. Louis, MO: Mosby.
o
Chapter 22, “Structure and Function of the Cardiovascular and Lymphatic Systems”
This chapter examines the circulatory system, heart, systemic circulation, and lymphatic system to establish a foundation for normal cardiovascular function. It focuses on the structure and function of various parts of the circulatory system to illustrate normal blood flow.
o
Chapter 23, “Alterations of Cardiovascular Function”
This chapter presents the pathophysiology, clinical manifestations, evaluation, and treatment of various cardiovascular disorders. It focuses on diseases of the veins and arteries, disorders of the heart wall, heart disease, and shock.
o
Chapter 24, “Alterations of Cardiovascular Function in Children”
This chapter examines cardiovascular disorders that affect children. It di.
Week 4Team Building Please respond to the followingReflect on.docx
Week 4
"Team Building" Please respond to the following:
Reflect on an instance where you were part of a team and evaluate the effectiveness of that team based on the four essential characteristics for effective guiding coalitions, as described in Chapter 4 of the Kotter textbook.
Suggest at least two strategies that could have been implemented to build trust and a shared vision on the team you identified in the first part of the discussion.
.
Week 4 Quiz1.According to a study cited by the U.S. Census.docx
Week 4 Quiz
1.
According to a study cited by the U.S. Census Bureau, children who live with married parents grow up with more advantages than children who live with _______
a.
A divorced parent
b.
A single parent
c.
A grandparent
d.
All of the above.
2.
In general, children in _______ households benefit from divorce.
a.
Step family
b.
Multigenerational
c.
High-conflict
d.
Low-conflict
3.
A cultural universal is something that _________
a.
Addresses all aspects of a group’s behavior.
b.
Is found in all cultures.
c.
Is based on cultural norms.
d.
May or may not be of value in meeting social needs.
4.
Social scientists refer to the use of a church to combat social injustice in the political realm as ________.
a.
Protestant work ethic
b.
Conflict management
c.
Liberation theology
d.
Justice work
5.
Which term describes the assignment of students to specific education programs and classes on the basis of test scores, previous grades, or perceived ability?
a.
Hidden curriculum
b.
Labeling
c.
Self-fulfilling prophecy
d.
Tracking
6.
What term describes the separation of students based upon merit?
a.
Cultural transmission
b.
Social control
c.
Sorting
d.
Hidden Curriculum
7.
Which factor does not influence voting practices?
a.
Race
b.
Social class
c.
Ethnicity
d.
Voting booths
8.
Which statement best explains why the United States is not a true democracy?
a.
Many politicians are corrupt.
b.
Special interest groups fund political campaigns.
c.
Citizens elect representatives to vote on their behalf to make policy.
d.
Ancient Greece was the only true democracy.
.
Week 5 Discussion - Restructuring Decisions & CommunityAlmost all .docx
Week 5 Discussion - Restructuring Decisions & Community
Almost all companies go through a period where restructuring has taken place. This of course is done to make a firm more competitive in the market. One of Benedictine's hallmarks is Community or the call of service for the common good. With that in mind do you believe that restructuring can be achieved for the betterment of a community?
MICROSOFT WORD, APA FORMAT AND SCHOLARLY CITED REVIEWS DUE WED 11/25/15 BY 5PM
.
Week 4 Project - STAT 3001Student Name Date.docx
Week 4 Project - STAT 3001
Student Name:
Date:
Instructions:
To complete this project, you will need the following materials:
STATDISK User Manual (found in the classroom in DocSharing)
Access to the Internet to download the STATDISK program.
Part I.
Analyze Data
Instructions
Answers
1.
Open the file COTININE using menu option
Datasets
and then
Elementary Stats, 9
th
Edition
.
This file contains some information about a collection of movies.
How many observations are there in this file?
In this file, there are three variables, labeled Smokers, ETS, and No ETS.
The dataset was collected for a study of second-hand smoke. The
sample data consists of the
measured serum cotinine levels
in three different groups of people.
·
The NOETS group lists the cotinine levels for subjects who are nonsmokers and have no exposure to environmental tobacco smoke at home or work.
·
The ETS group lists cotinine levels for subjects who are nonsmokers exposed to tobacco smoke at home or work.
·
The SMOKERS group lists cotinine levels for subjects who report tobacco use.
Serum cotinine is a metabolite of nicotine, meaning that cotinine is produced when nicotine is absorbed by the body. Higher levels of cotinine correspond to higher levels of exposure to smoke that contains nicotine.
2.
What results do you expect to find in this data?
Part II. Descriptive Statistics
3.
Generate descriptive statistics for all three groups of people and complete the following table.
Round all results to 2 decimal places.
Variable
Sample
Mean
Sample
Standard Deviation
Sample Size
Smokers
ETS
No ETS
4.
Did you get the results you expected here?
Explain why.
5.
In which of the three groups did we experience the MOST variation (highest deviation from the mean)?
Part III. Confidence Intervals
6.
Generate a 95% interval for the mean of the SMOKERS group. Paste your results here.
7.
Generate a 95% interval for the mean of the ETS group. Paste your results here.
8.
Generate a 95% interval for the mean of the No ETS group. Paste your results here
Create a graph below by illustrating all three confidence intervals on one graph using the tools in your word processor (example below).
Statdisk cannot do this for you.
Creat your
graph and turn the font red.
For this process, I just use the dashes and wrote a scale below the axes.
Here is an example, but it is not based on the data you are analyzing:
Case 1
14---------------------42
Case 2
35-------------------------70
________________________________________
0
20
40
60
Your
Solution
:
11.
Based on the confidence intervals shown above, does there appear to be some evidence to indicate that exposure to tobacco smoke corresponds to higher levels of cotinine?
Part IV. Hypothesis Testing
Let’s say that you are trying to show that the level of cotinine is equal to zero (0) for people who do not smoke and are not exposed to Environmental.
Week 6 - Discussion 1 Your initial discussion thread is .docx
Week 6 - Discussion 1
Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the
Discussion Forum Grading Rubric
for guidance on how your discussion will be evaluated.
Action Planning for Education Change
In Chapter 7, Mills (2014) discusses a variety of challenges action researchers face with implementing positive change.
What potential challenges or obstacles do you predict facing in your current or future role as an educator when implementing positive change (lack of resources, resistance to change, reluctance to interfere with others’ professional practices, reluctance to admit difficult truths, difficulty finding a forum to share what you have learned, lack of time for action research endeavors, unsupportive administration, other)?
Describe how you would apply what you have learned regarding the challenges of implementing educational change to overcome potential obstacles that you may encounter in taking action.
Guided Response:
Respond to a minimum of two classmates. Provide suggestions for overcoming their potential obstacles. What is something they shared that you hadn’t considered in your own future endeavors? *It is expected you follow-up by the last day of the week to provide a secondary response to any comments or questions your instructor may have provided. This is part of the grading criteria as a demonstration of critical thinking.
-
Week 6 - Discussion 2
Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the
Discussion Forum Grading Rubric
for guidance on how your discussion will be evaluated.
Final Self-Reflection
Describe some of your take-aways from this course. Consider all of the topics including use of digital tools when responding. Do not respond in list form. These are merely prompts to get you thinking:
What concepts or principles have you learned from this course that you might use in your work setting?
How do you feel about conducting action research now, compared to before you started this course?
Describe how you perceive the value of qualitative and quantitative data when considering improvements.
How do you plan to use the knowledge you gained in this course to be a positive change agent in your own work setting? In other words, what are your next steps?
Include a new, different quote than you did in you r week one introduction. Why does this quote inspire you?
Guided Response:
Respond to a minimum of two classmates. *It is expected you follow-up by the last day of the week to provide a secondary response to any comments or questions your instructor may have provided. This is part of the grading criteria as a demonstrati.
Week 4 Forum ModernismDUE WED 123015 9PMPart I Identif.docx
Week 4 Forum: Modernism
DUE WED 12/30/15 9PM
Part I:
Identify three symbols in the readings from this week and discuss what you think those symbols mean in the context of the story or poem in which they are found.
Part II:
Based on Hemingway and TS Eliot, what are your impressions of the "Modern Man"?
Part III:
Share a web-based resource that you located that gave you more information about one of our readings this week, about Modernism, about WWI or about a specific author we covered. It could be a video or a website with text. Explain how the source contributed to your understanding. Is it the kind of source you could use in a literary essay, or is it better for 'preliminary research' and overall understanding, but not appropriate for academic use? Why?
American Literature Since the Civil War
. Create ed. McGraw-Hill, 2015. E-book.
Ernest Hemingway: Author Bio
Ernest Hemingway: Big Two-Hearted River: Part I and Part II
ee cummings:
I carry your heart with me ( I carry it in my heart)
ee cummings
:
Buffalo Bill's defunct
ee cummings
:
In just spring
T. S. Eliot: Author Bio
T. S. Eliot: The Love Song of J. Alfred Prufrock
TS Eliot:
The Hollow Men
Your initial discussion should be at least 200 words. It must include MLA citations – both in-text and an end citation.
.
Week 4 assignment is due 1916Writea summary of no more than .docx
Week 4 assignment is due 1/9/16
Write
a summary of no more than 1,400 words that does the following:
Identifies and analyzes the most important external environmental factor in the remote, industry, and external operating environments
Identifies and analyzes the most important internal strengths and weaknesses of your organization: include an assessment of the organization's resources
Assesses the organization's competitive position and possibilities
Analyzes the structure of the organization and how this affects organizational performance
Week 5 assignment is due 1/16/16
Write
a draft of no more than 1,800 words of the strategic plan for your organization, including the following:
Implementation plan
Objectives
Functional tactics
Action items
Milestones and a deadline
Tasks and task ownership
Resource allocation
Any required organizational change management strategies that would enhance successful implementation
Key success factors, budget, and forecasted financials, including a break-even chart
Risk management plan, including contingency plans for identified risks
Week 6 assignment is due 1/20/16
Complete
a strategic plan for your organization of no more than 3,500 words.
Update
your plan to incorporate facilitator feedback from the drafts you submitted in previous weeks. Include the following:
Table of contents
Executive summary, with a 2-page maximum
Company background, organizational mission, vision, and value statements
Environmental scan
Review of Week 4 strategies and a recommendation for the best strategy for your organization
Implementation plan including contingency plans for identified risks
Prepare
a Microsoft
®
PowerPoint
®
presentation of no more than 10 slides with speaker notes. Your audience will play the board of directors or a venture capital firm. The focus is to sell your recommendations to the board or venture capital firm and obtain approval for funding your plan.
.
Week 4 - AssignmentCreating a Unit Plan Once you’ve gotten.docx
Week 4 - Assignment
Creating a Unit Plan
Once you’ve gotten to know your students through learning profile inventories that identify individual areas of strength and learning styles, you can design multimodal lessons that incorporate instructional technology that engage the 21st century learner. This week, you will create a three-day unit plan outline that addresses students’ diverse learning styles and multiple intelligences, acknowledges cultural and language differences, and integrates digital tools and technology.
Using the textbook as guidance, create a Unit Plan outline, using the
provided template
that includes:
Introduction:
Describe the demographics of your current (or fictional classroom) including:
Grade Level and Subject Area
Total number of students – ability levels, gender, students with special needs, English Language Learners (ELLs)
Other relevant information (such as socioeconomic status, family background, recurring behavior issues, etc.)
Stage 1:
The first stage is to determine the “Big Picture”; what you want students to learn, conceptually, at the unit’s conclusion. You must:
Identify the content, unit title, unit subject, and at least one Common Core State Standard (CCSS) that aligns with the unit.
Create at least two measurable unit objectives that align with the CCSS.
Describe what you want the students to master including key concepts, “big ideas”, and major understandings (see the textbook, Chapter 4 for guidance).
The following resources are helpful when creating Stage 1:
Common Core Standards - The Standards
Writing measurable learning objectives
.
P21 common core toolkit
Stage 2:
The second stage outlines evidence of learning including pre-assessments, formative assessments, and a summative assessment.
Pre-assessment:
Explain how you will measure student’s level of readiness and preexisting knowledge specific to the content chosen. Include how you will take into account student strengths, interests, and learning needs.
Formative Assessment:
Explain how you will use formative assessments to drive differentiated instruction throughout the unit specific to the content you’ve chosen. Be sure to include how these assessments address UDL principals.
Summative Assessment:
Design a summative assessment that will measure the student’s level of unit mastery. You must include how this assessment addresses UDL principals and DI theory and how the assessment takes into account your diverse student population.
Stage 3:
The final stage of the unit plan involves developing the activities and experiences, building upon what you determined in Stage 1. “This stage involves tailoring learning activities to the identified strengths, learning styles, and interests of students, organizing lessons in a meaningful way that emphasizes the relevance of the learning, and engaging the learners with active learning strategies”(Chapter 4, pp. 5-6). In addition, this stage should also incorporate self-regulation strat.
Week 3 Whats My Style PresentationWeek 3 Whats My Style Pr.docx
Week 3: What's My Style Presentation
Week 3: What's My Style Presentation
DUE: Sep 27, 2015 11:55 PM
Grade Details
Grade
N/A
Gradebook Comments
None
Assignment Details
Open Date
Sep 7, 2015 12:00 AM
Graded?
Yes
Points Possible
20.0
Resubmissions Allowed?
No
Attachments checked for originality?
Yes
.
Week 3 readings and videosWrite a 350- to 700-word paper in whic.docx
Week 3 readings and videos
Write
a 350- to 700-word paper in which you investigate the interrelationship between the entertainment media and culture. Answer the following questions:
In what ways have various forms of entertainment media shaped American culture and its values?
Are the social influences of entertainment media mostly positive or negative? Explain.
Provide
specific examples.
Conclude
your paper with thoughts on whether the entertainment media are a reflection of or a catalyst for societal behaviors and attitudes.
Format
consistent with APA formatting guidelines.
Click
the Assignment Files tab to submit your assignment.
.
Week 3 DiscussionThink about products you were enticed to purcha.docx
Week 3 Discussion
Think about products you were enticed to purchase using social media (e.g., Twitter, Facebook, Tumblr, Vine, YouTube, etc.)
Tell us your favorite product that you purchased using social media and what positioning statement the company used.
Make sure you include the information from the fill-in-the-blank positioning statement.
Also, state your opinion on how well social media clearly portrayed the positioning statement
Click here for full screen viewability in a new window.
.
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- 1. Week 3 Homework Questions 1) The following questions are based on the same scenario I used for question 3 in your week 1 homework. That question addressed violations of the Code of Conduct. I want to apply the same scenario to legal liabilities. Here is a copy of the scenario: John Smith owns a small, privately held firm. He hired you to audit its financial statements. He told you that the audit was to be completed in time to submit audited financial statements to a bank as part of a loan application. You immediately accepted the engagement and agreed to provide an auditor's report within three weeks. John agreed to pay you a fixed fee plus a bonus if the loan was granted. You hired two accounting students to conduct the audit and spent several hours telling them exactly what to do. You told the students not to spend time reviewing John's internal controls but instead to concentrate on proving the mathematical accuracy of the ledger accounts and on summarizing the data in the accounting records that support John's financial statements.
- 2. The students followed your instructions and, after two weeks, gave you the financial statements, which did not include footnotes. You studied the statements and prepared an unqualified auditor's report. The report, however, did not refer to generally accepted accounting principles or to the fact that John had changed to the accounting standard for capitalized interest. Here are the new questions: a) After the audit was completed, John used the financial statements to secure a loan from a bank. Within a year, John was unable to make payments on the loan. In the process of investigating the reason why, the bank determined that the financial statements were material misstated. John, however, was near bankruptcy and could not pay off the loan. The bank sued you for the balance due on the loan. Given the violations I discussed in my solution to the week 1 homework, do you think the bank will prevail? You answer should provide an analysis of the legal issues involved to include what basis the bank would have to sue, what you level of liability would be(proportionate or joint and
- 3. several), and a clear statement of why or why not you think the bank would prevail to include how effective your defenses might be. b) Now assume that instead of applying for a bank loan, you knew that John was planning to use the financial statements as part of a prospectus for an initial public stock offering (IPO), i.e., John's firm sold stock directly to the public. John did and a potential investor read the prospectus and did a comprehensive analysis of the financial statements as a basis for his decision to buy a significant portion of stock in the new corporation. A year later, the firm was doing so badly that its stock price was down to 10% of what it was after the IPO. The investor sued both the John' s new corporation and you for his investment losses. During the trial, the investor was able to show that the financial statements were materially misstated in key areas that affect firm value. Given the violations I discussed in my solution to the week 1 homework, do you think the investor will prevail? You answer should provide an analysis of the legal issues involved to include what bases (cover all that apply) the investor would have to sue, what your level of liability would
- 4. be (proportionate or joint and several), and a clear statement of why or why not you think the investor would prevail to include how effective your defenses might be. 2) The text lists 18 audit objectives - 8 for balances, 6 for transactions, and 4 for presentation and disclosure. For each of the following audit procedures, list the category and specific objective each tests and provide an explanation of why you selected the category and object. Some of these audit procedures test more than on objective and I want you to list and explain all that apply. Assume all procedures were executed on the audit for a fiscal year ending December 31, 2014. Fill in the following table to answer the question. I have filled in the first item as an example. Audit Procedure Category Objective Explanation 1. Examine sales invoices for the last five sales transactions recorded in the sales journal in 2014 and examine shipping documents to determine they are recorded in the correct period. Balance
- 5. Transaction Cutoff Timing The cutoff object is to determine that transactions recorded near the end of an accounting period are included in the correct period. The text is unclear here because it states that balance-related objectives are applied to balance sheet accounts and sales is an income statement account. However, I believe the procedure still fits the cutoff objective. This procedure would also test whether the transaction was recorded on the correct date. Since transactions that are recorded at the end of the year also are recorded during the year, this objective also would apply. 2. Add all customer balances in the accounts receivable trail balance and agree the amount to the general ledger. 3. Determine whether long-term receivables and related party receivables are reported separately in the financial statements.
- 6. 4. For a sample of shipping documents selected from shipping records, trace each shipping document to a transaction recorded in the sales journal. Audit Procedure Category Objective Explanation 5. Determine whether all risks related to accounts receivable are adequately disclosed. 6. Examine a sample of duplicate sales invoices to determine whether each one has a shipping document attached. 7. Inquire of the client whether any accounts receivable balances have been pledged as collateral on long-term debt and determine whether all required information is included in the footnote description for long-term debt.
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