Eindhoven, The Netherlands Abstract Purpose – This paper aims to study the relationship between intellectual capital disclosures (ICDs) and the relative importance of intangible assets as company value drivers. Design/methodology/approach – Annual reports of Swedish, British and Danish firms are analysed to measure the extent of ICD. The level of intellectual capital (IC) in firms, measured with proxies for the categories of human, structural and relational capital. Findings – As to the components of
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18-22 a. The auditor would issue an unqualified audit report with modified wording for the reliance on the other auditors. In this case, the principal auditor does not intend to take responsibility for the other auditor's work. b. The auditor should issue a qualified audit report because management has not complied with GAAP. The auditor is not required to prepare the statement of cash flows for disclosure in the audit report. c. This approach is not in accordance with GAAP because
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Assessment A, Part One - Credibility and Impact: Exploring the Internet and Politics Indicate whether each website is credible. Colbert Nation No Crooks and Liars No Daily Kos Yes POLITICO Yes Red, Green and Blue No Salon No The Drudge Report No The Hill Yes The Huffington Post No The Nation Yes The New York Times Yes The Washington Post Yes Assessment A, Part 2: Answer the Senator about Credibility Comment on credibility issues pertaining to using information from Internet
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composed of entirely independent auditors, they have a long list of standards to be followed specifically for internal and external controls, and lastly they also set out guidelines in which the audit committee should provide them with their Financial reports and public disclosure those guidelines are put in place in order for financial information set out to the public is accurate and timely and most importantly reliable. Imperial Oil also receives a score of 2. due to the fact that like Suncor they’re
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disclosure in financial reporting is necessary because this report reflects the financial activities of the business, if this report is not accurate, and if information omitted or altered affects the decisions of the person using or reading the reports. The government created the SEC and FASB; these two organizations set guidelines to ensure that companies and business disclose the information required by the law. A full disclosure of a financial report (cash flows, income, expenses, and investments) need
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1. What position would you take on the proposal? Justify your response? The function of an audit is to ensure that the financial statements of the reporting entity give a true and fair view of the position of the entity’s affairs and to enable users of the financial statements to make relevant, economic decisions and understand the financial health of the company. The cost of performing audits is significantly high and that would be the advantage in hiring Uncle Ray as an auditor but the advantages
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interviews with appropriate department personnel as necessary. Report Drafting After the fieldwork is completed, a report is drafted. The report includes such areas as the objective and scope of the audit, relevant background, and the findings and recommendations for correction or improvement. Exit Conference After the draft report is submitted for review, a meeting is scheduled with department management to discuss the draft audit report. This is a time for questions and clarifications. Department
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1. What are the main sections of an annual report? What are the key contents of each of these sections? | | | Answer: A common annual report is sectioned in some parts and it is briefed with key contents here:Director's report: The director’s report includes the major events of the firm in the preceding year.Management discussion and analysis (MD&A): Management discussion and analysis is the management’s interpretation of the market economy, size, demand and company’s competition and competence
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aunt Amelia about his concerns. Aunt Amelia not knowing enough about the financial situation or accounting in general, asked Nick if she should mention the issue to the audit committee. Aunt Amelia now needs to make the decision to whether or not report the revenue recognition concerns the audit committee. Issues One of the issues is the concern if the company is using aggressive conservative revenue recognition to build reserves to use in future periods when earnings will decrease
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