Auditing a publicly traded company Team B Miriam Burns, Matt Gourlie, Paula Morris, Kendra Upchurch Christine Errico ACC/541 MEMO TO: Sally Field (Senior Accountant) FROM: Team B SUBJECT: Audit of Nike DATE: October 12, 2012 Ms. Field our team is preparing to audit Nike for their annual audit. We will make sure the company is following generally accepted principles (GAAP). In the staff meeting discussing the upcoming audit of Nike, you asked us to make sure the company
Words: 1241 - Pages: 5
Client Understanding Paper ACC/541 April 10, 2012 Client Understanding Paper Dear Client, please find below the detailed written explanation on the topics you requested. The items addresses are as follows: 1. Adjusting lower cost or market inventory on valuation. 2. Capitalizing interest on building construction. 3. Recording gain or loss on asset disposal. 4. Adjusting goodwill for impairment. Adjusting lower cost or market inventory on valuation The term “inventory”
Words: 1283 - Pages: 6
Accounting Standard Board Paper ACC/541 June 18, 2012 Accounting Standard Board Paper In the world of accounting there needs to be standards for all of the countries, whether they are in the United States of Overseas. The accounting boards will help with making sure that all of the information is done correctly and are reported in a consistent way so that investors can determine what company is better to invest in. The two types of accounting standards board that are being discussed is the
Words: 1306 - Pages: 6
Client Understanding Paper Colleen Witten ACC/541 11/11/2013 Thomas Gruber Adjusting lower cost of market inventory on valuation, capitalizing interest on building construction, recording gain or loss on asset disposal and adjusting goodwill for impairment are all areas in which numbers on a financial statement can be distorted. There are rules and regulations regarding each one that a company should follow and auditing of these areas is necessary for financial statement compliance. Any organization
Words: 1395 - Pages: 6
Case 21 Business Valuation of Branson Trucking Company Prepared by Maria Fernanda Chirinos for Professor C.E. Reese in partial fulfillment of the requirements for ACC 541- FORENSIC ACCOUNTING School of Business/ Graduate Studies St. Thomas University Miami Gardens, Fla. Term A1/Spring, 2015 May 22, 2015 Table of Contents Issues…………………………………………………………..............................................……. 1 Facts………………………………………………………….............................................
Words: 1355 - Pages: 6
Relationship between the IASB and the FASB ACC 541 Relationship between the IASB and the FASB The United States plays an enormous influence on the accounting standards set forth throughout the world in the global economy. The United States follows the Financial Accounting Standards Board (FASB) which has created a large number of accounting standards that are interpreted and accepted by international companies and by the International Accounting Board (IASB). The IASB plays a similar role
Words: 1324 - Pages: 6
Client Understanding Paper Tanisha Wilson University Of Phoenix Accounting Theory and Research ACC/541 Bethany Bartlett August 19, 2013 Client Understanding Paper To our valued clients at Morton Sales Company, It is my pleasure to have the opportunity to assist your organization with your financial needs. As I was analyzing the working papers given, a request for some additional information needed was submitted. It has been conveyed to my attention that there is questions or concerns in
Words: 1348 - Pages: 6
Reporting Paper Janis Maraya ACC 541 February 20, 2015 William Montgomery To: CEO From: Controller Date: February 20, 2015 ------------------------------------------------- Subject: Pension Plans and Eliminating Segments This memo is to provide a response to the new CEO who is requesting information regarding the following areas. The first discussion is and explanation of the required reporting on retirement plans that includes defined contribution, defined benefit, and other postretirement
Words: 1407 - Pages: 6
Client Understanding Paper Cayce Harris ACC-541 December 23, 2013 Thomas Gruber Cayce Harris 715 Madison Ln. Florissant, MO 63031 December 23, 2013 Client Understanding CEO CU Corp. 12345 S. Main St. St. Louis, MO 63031 Dear Client: Thank you for choosing University Accounting for your accounting needs. We are confident that you will be very satisfied with the services that we offer. The information enclosed will help you make the most of our services, as well as, address
Words: 1292 - Pages: 6
Client Understand Paper Accounting Theory and Research/ ACC 541 November 21, 2011 To provide your organization accurate financial data, reports and statements, we follow rules developed according to Generally Accepted Accounting Principles (GAAP). Based on GAAP, it is important that we follow certain rules and have accurate client information. You have asked why we are asking for certain information related to certain topics within your organization. An explanation as to why we are asking
Words: 1496 - Pages: 6
