Explain how ACL could be used to help identify potentially obsolete inventory.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
ACL stands for Audit Command Language it is one of the Computer Assisted Audit Technique ...View the full answer
Answered By
Nagarjuna Kurelli
I'm a Qualified Company Secretary and Qualified Member of CISI (UK) my domain of Knowledge include
1. Accountancy
2. Finance
3. Cost Accounting
4. Forensic Audit
5. Corporate and Allied Laws
6. Taxation Both Direct and Indirect
7. Business Management and Business Plan
8. Project Evaluation
Besides from the above i have taught students of CA, CS, MBA and Bcom
0.00
0 Reviews
10+ Question Solved
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
Question Posted:
Students also viewed these Auditing questions
-
Explain how GAS could be used to help identify potentially obsolete inventory.
-
Explain how broad organizational categories are used to help identify risks.
-
Identify an alkyl halide that could be used to make the following alkene:
-
United Research Associates (URA) had received a contract to produce two units of a new cruise missile guidance control. The first unit took 4,000 hours to complete and cost $ 30,000 in materials and...
-
Describe the capabilities of the casting process in terms of size and shape of the product.
-
Name (IUPAC system) or draw the structure of each of the following compounds. (a) (b) (c) (d) (e) (f) (g) Propyl butanoate (h) Butyl propanoate (i) 2-Chloroethyl benzoate ( j) N,N-Dimethylbenzamide...
-
The Bailriggers Division specializes in manufacturing rigging for sailing dinghies and smaIl yachts - a growth industry. But the firm also has a sideline in wire products for garden use, including...
-
A Japanese company has a bond outstanding that sells for 87 percent of its 100,000 par value. The bond has a coupon rate of 4.3 percent paid annually and matures in 18 years. What is the yield to...
-
ABC Co. decided to open a branch in Manila. Shipments of merchandise to the branch totaled 54,000 which included a 20% mark-up on cost. The branch submitted the following report summarizing its...
-
Zia Co. makes flowerpots from recycled plastic in two departments, Molding and Packaging. Zia uses the weighted average method, and units completed in the Molding department are transferred to the...
-
Explain the procedures the auditor would use to verify the cost of inventory, assuming the client uses the following valuation approaches: a. FIFO valuation on a periodic inventory basis b. LIFO...
-
Explain the purpose of the test counts and other inventory observations that the auditor notes while a physical inventory is being taken. Explain how each written observation is used in completing...
-
Graph each polynomial function. Factor first if the polynomial is not in factored form. (x) = -4x 5 + 16x 4 + 13x 3 - 76x 2 - 3x + 18
-
Imagine that there are three residents of Austin, and that each of them has an elderly grandmother who also lives in town. Each of the grandchildren faithfully visits his or her grandmother for three...
-
Gyro Gear Company produces a single product, a special gear used in automatic transmissions. Each gear sells for $28, and the company sells 500,000 gears each year. Unit cost data are presented...
-
3. Find the duality and complement function of the following expression, determine if it is a self-dual or self-complement (4 points) f(x,y,z) = x'y + (x + y' + 1)z + z(x + y' + 0)'
-
Explore the themes of alienation and dislocation in James Joyce's "Ulysses." How do these themes reflect the modernist perspective on the fragmentation of society and the individual's place within it...
-
After a default and pursuant to an application by the first mortgage holder on title, the court will issue a preliminary order of foreclosure, setting a time limit within which time the mortgage must...
-
Because of a sharp decline in real estate values, the household sector has increased the fraction of disposable income that it saves. If output and investment spending remain unchanged, which of the...
-
Using the information presented in Problem 13.4B, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities using the...
-
Which line of code belongs in a service locator? A. ServiceLoader loader = ServiceLoader.load(); B. ServiceLoader loader = ServiceLoader.load(Mouse.class); C. ServiceLoader loader =...
-
An refinisher of antiques named Constance has been so successful with her small business that she is planning to expand her shop with all new equipment. She is going to start enlarging her shop by...
-
Refer to Problem 2-26 and now assume the prices for the equipment that Constance wants to replace have not been constant. Use the cost index data for each piece of equipment to update the costs to...
-
Five years ago, when the relevant cost index was 120, a nuclear centrifuge cost $40,000. The centrifuge had a capacity of separating 1500 gallons of ionized solution per hour. Today, it is desired to...
-
Sales $710,000 Cost of goods sold 182,000 Gross margin 528,000 Selling and administrative expenses 151,900 Net operating income 376,100 Nonoperating items: Gain on sale of equipment 7,000 Income...
-
In class we have been assuming that all of government spending falls on domestic goods. Assume instead that a fraction falls on imports (such as capital equipment and military hardware): mg =...
-
Iguana, Inc., manufactures bamboo picture frames that sell for $20 each. Each frame requires 4 linear feet of bamboo, which costs $1.50 per foot. Each frame takes approximately 30 minutes to build,...
Study smarter with the SolutionInn App