when there has been a change in accounting prinicples, but the effect of the change on the comparability of the financial statements is not material, the auditor should

Answers

Answer 1

The auditor should not mention changes in the auditor's report, according to the provided statement.

Who are auditors?

An auditor is a person who checks the accuracy of transactions that have been documented in business. Auditors are required to ensure that procedures are being followed and that an organization's financial statements properly represent its operational and monetary results.

What is the function of an auditor?

The auditor's or reviewer's responsibility is to provide a professional opinion on these income statement. An organisation's financial report can be reviewed or audited to improve member accountability and guarantee that all money received by the group have been properly accounted for.

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Related Questions

Why do you think it is important to understand GDP?

Answers

GDP is important because it gives information about the size of the economy and how an economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well

SOLVE THE GRAPH AND THE SUPPLY OR SHORTAGE AND THE PRESSURE OF PRICE ​

SOLVE THE GRAPH AND THE SUPPLY OR SHORTAGE AND THE PRESSURE OF PRICE

Answers

Answer:

probably cant figure it out

Explanation:

explain and discuss how participative management can enhance skill variety; task identity, and autonomy as described in the job characteristics model (jcm).

Answers

Participative management is used in the process feature version to enhance capabilities, task identification, and enhance autonomy due to the fact it's miles a selection-making technique that guarantees organizational employees are protected in choice-making approaches.

Participative management is a control style that requires the cooperation of personnel. Its goal is to build commitment and broaden tasks inside paintings teams. To do this, the supervisor needs to delegate components of his strength and it's essential that the teams.

Participative management style is a management fashion positively associated with a high degree of process satisfaction. It is based on the involvement of employees in choice-making, problem-solving in the organization and empowering personnel, in addition to on supporting their high autonomy, own initiative, and creativity.

Participative management is simplest in an environment that encourages inclusivity and the professional increase of employees. companies that price and encourage employees to voice their reviews and hone their skills generally tend to develop more confident groups that come up with better ideas.

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(1) An S corporation must possess which of the following characteristics?

a. Not more than one hundred shareholders.b. Corporation organized in the U.S.c. Only one class of stock.d. All of the above are required of an S corporation.e. None of the above are required of an S corporation.

Answers

An S corporation is prohibited from going public and is only permitted to have 100 shareholders, which restricts its ability to raise money from new investors.

Thus, the correct option is A.

What is S corporation?

A business form known as a S corporation is one that is allowed by the tax code to distribute its taxable income, credits, deductions, and losses to its shareholders directly.

This provides it certain advantages over the more popular C corp. The S corp, an alternative to the limited liability company, is only available to small firms with 100 or fewer stockholders (LLC).

S corporations and LLCs are both referred to as "pass-through entities" because they don't pay corporate taxes; instead, they pay their shareholders, who are then in charge of paying the necessary taxes.

The Internal Revenue Code's Subchapter S, which they have chosen to be taxed under, gives S corporations their name.

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You are an American, working for a US hospital. The hospital sells services to a French hospital. Given a depreciation of the Euro, your French subsidiary (the one that receives the revenues from the French Hospital) received a lesser income last year, although a clause in your contract stipulates adjustment payment in US dollars. Therefore, your subsidiary has a balance sheet loss, although your consolidated global result is positive. This type of foreign exchange risk is known as:

Answers

Answer:

translation exposure

Explanation:

Translation exposure is also known as translation risk. In this type of risk, the value of a company's assets, equities, income, or liabilities change due to changes in the exchange rate,

French subsidiary received a lesser income last year, although payment will be adjusted in US dollars as per the contract.

Due to this, the subsidiary has a balance sheet loss, although the consolidated global result is positive.

This type of foreign exchange risk is known as translation exposure.

21. Which of the following goods has elastic demand?
a. Tobacco
b. Table salt
c. diet coke
d. toothpaste

Answers

Answer:

tobacco

Explanation:

Which qualifications are most helpful for Early Childhood Development and Services Careers? Check all that apply

independence
computer skills
physical strength
financial skills
adaptability
teaching skills

Answer: physical strength, adaptability, and teaching skills

Answers

Answer:

C, E, F

Explanation:

got it right

Answer:

C,E,F

Explanation:

The other guy was right so I had to assure you it was right

Click this link to view O*NET’s Work Context section for Chefs and Head Cooks.

Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom.

According to O*NET, what are common work contexts for Chefs and Head Cooks? Check all that apply.

A. spend time keeping or regaining balance
B. importance of being exact or accurate
C. exposed to high places
D. spend time standing
E. responsibility for outcomes and results
F. responsible for others’ health and safety

Answers

Answer:

✅importance of being exact or accurate,✅spend time standing,✅responsibility for outcomes and results,✅responsible for others’ health and safety

I hope this helps!

Answer:

2. importance of being exact or accurate

4. spend time standing

5. responsibility for outcomes and results

6. responsible for others’ health and safety

Explanation:

compute depreciation expense kingbird elected to depreciate on a straight line basis and determined that the asset has a useful life of 30 years and a salvage value of 780000

Answers

The annual depreciation expense for this asset would be $7,333.33.

The depreciation expense can be computed using the straight-line method. This method allocates an equal amount of the asset's cost over its useful life.

To calculate the depreciation expense, we need to know the cost of the asset, its useful life, and its salvage value. In this case, the asset has a useful life of 30 years and a salvage value of $780,000.

The formula for straight-line depreciation is:

Depreciation Expense = (Cost of Asset - Salvage Value) / Useful Life

Let's plug in the numbers:

Depreciation Expense = ($Cost of Asset - $Salvage Value) / Useful Life
Depreciation Expense = ($Cost of Asset - $780,000) / 30 years

For example, if the cost of the asset is $1,000,000, the calculation would be:

Depreciation Expense = ($1,000,000 - $780,000) / 30 years
Depreciation Expense = $220,000 / 30 years
Depreciation Expense = $7,333.33 per year

So, the annual depreciation expense for this asset would be $7,333.33.

Remember, this is just one example. The actual numbers may vary depending on the cost of the asset and its useful life.

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Florence deposited ₱ 14,800 in a bank that gives 4.35% simple interest. after 2years 4months, she went back to the bank to check her balance. how much was available in her account?​

Answers

Answer:

₱ 16,300.054

Explanation:

The formula for calculating simple interest is as below.

I= p x r x t

In this case, p= 14,800, r = 4.35% and t is 2 years and 4 months

the interest rate is in years; we need to convert two years and four months to years.

=4 months = 4/12 of one year = 0.33

2 years 4 months = 2.33 year

I= 14,800 x 4.35/100 x 2.33

I= 14,800 x 0.0435 x 2.33

I=1,500.054

the amount in the bank will be principal plus interest

=14,800 + 1500

=16,300.054

What other form of etching and
engraving can be done in addition to
machines?
A. by hand
B. by wood freezing
C. by computer

Answers

The answer is
B.Wood freezing

What is the return rate for brick-and-mortar stores?
A. 10%
B. 20%
C. 3%
D. 15%

Answers

The return rate for brick-and-mortar stores that one will receive is 3%. Hence, Option C is correct.

What is the return rate?

A return rate is something that an individual receives in exchange or returns for something else. One can receive this return in various cases, like when someone has lent money to someone for a particular period of time.

In other words, the return rate, or rate of return, is the amount received after making any type of investment. The amount that they will receive in addition to that particular amount is the amount that gets after the calculation of the percentage of the return rate, and that percentage is fixed.

Therefore, it is the return that one has to make after the completion of the time period for which the investment has been made. Option C is correct.

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Discuss the main risks faced by large banks and explain how ‘good governance’ may help manage such risks.

Answers

The main risks faced by large banks include credit risk, market risk, liquidity risk, operational risk, and reputational risk. Good governance can help manage these risks in several ways. Firstly, it promotes transparency and accountability within the bank. This means that all relevant information, including risks, is disclosed and communicated effectively to stakeholders. By doing so, it allows for better decision-making and risk-management strategies.

Credit risk refers to the possibility that borrowers may default on their loans, resulting in financial losses for the bank. Market risk is the potential for losses due to changes in market conditions, such as interest rates, exchange rates, or stock prices. Liquidity risk is the risk of not being able to meet short-term obligations, which can lead to financial instability. Operational risk involves the risk of losses resulting from inadequate or failed internal processes, people, and systems. Lastly, reputational risk is the potential damage to a bank's reputation due to negative public perception or misconduct. Good governance ensures that there is a clear and effective risk management framework in place, including risk assessment and monitoring processes. This helps identify and mitigate risks before they escalate. Furthermore, good governance establishes proper checks and balances within the bank's organizational structure. This includes separating key functions and responsibilities, such as risk management and business operations, to prevent conflicts of interest. It also promotes a culture of risk awareness and ethical behavior throughout the organization, reducing the likelihood of misconduct or excessive risk-taking. In terms of examples, a large bank with good governance practices may have a dedicated risk management committee that oversees the bank's risk management framework. This committee would regularly assess and monitor the bank's various risks, ensuring that appropriate measures are taken to manage and mitigate these risks. Additionally, the bank may have robust internal controls and audit processes to ensure compliance with regulations and identify potential weaknesses or vulnerabilities. Overall, good governance plays a crucial role in managing the risks faced by large banks. It fosters transparency, accountability, and risk awareness within the organization, helping to minimize the potential impact of these risks and protect the bank's stability and reputation.

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What are called public services? Give any five examples.

Answers

Answer:

Supplying gas or electricity MilitaryPublic transportation ( Bus, Trains+)Emergency services Public broadcasting ( includes television, radio+)

Explanation:

hopefully this helps !

Explanation:

Supplying gas or electricityMilitaryPublic transportation ( Bus, Trains+)Emergency servicesPublic broadcasting ( includes television, radio+)

Thanking myself for the wonderful answer <33

Recently, the cable television networks have bombarded viewers with a variety of shows based around teams that come in to redecorate homes and gardens in a very short time frame. Since these teams are typically made up of men and women of different ethnic backgrounds, age, and physical capabilities, the fact they work so well with each other to accomplish the redecorating goal is an example of ____.
a. discrimination heterogeneity
b. social integration
c. organizational plurality
d. acculturation
e. an integrative locus of control

Answers

Answer:

social integration. i hope this helps for you!

Explanation:

The amortization schedule for a bond issued at a discount has a carrying value that increases over time.a. Trueb. False

Answers

Option a. True is the correct answer. The amortization schedule of a bond issued at a discount has a carrying value that increases over time.

Non-current liabilities are also known as long-term debts, which appear in the organization's balance sheet or statement of financial position. Examples are the bonds payable, notes payable, and loans payable.

Discount on bonds is the amount deducted from the face value of the bond to calculate for carrying value. The amortization would decrease the bond discount until it becomes zero at the end of maturity. A decreasing bond discount balance will increase the carrying value of the bonds.

Premium on bonds is the amount that is added to the face value of the bond to calculate for carrying value. Amortization will decrease this amount and decrease the carrying value as well.

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Suzette opened a CD 10 yrs ago at an int

Suzette opened a CD 10 yrs ago at an int

Answers

The Rule of 72 is a straightforward formula for calculating how many years, at a specific interest rate, it would take for an investment to double in value. Option A is correct.

After to rule 70, if her investment doubled, she would have paid?

A cd with an interest rate of 8.2% compounded semiannually was opened by Suzette ten years ago. When did she have half as much money as she does now, if the rule of 72 was applied,

According to the Rule of 72, it would take Suzette's investment about 72/8.44 = 8.53 years to double in value. Suzette would consequently have double the amount of money she initially put in after 8.53 years. The interest rate in Suzette's case is 8.2% compounded semiannually, making the actual annual interest rate 8.44%.

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Marketing can best be thought of as a(n)?

Answers

Complete Question:

Marketing can best be thought of as a(n)

Group of answer choices

A. profit

B. activity

C. need

D. process

Answer:

D. Process.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers

Hence, marketing can best be thought of as a process.

Generally, marketing comprises of various activities such as creating, communicating, delivering, and exchange of goods and services for a specific amount of money being paid by the customers.

when consumed, many goods and services have an impact on other people not using the product. Which word describes this impact ?
A. appreciation
B. depreciation
C. externality
D. inflation

Answers

Answer:

Explanation:

depreciation

When consumed, many goods and services have an impact on other people not using the product. Depreciation word describes this impact. The correct option is B.

What does it mean to deprecate a product?

Application developers who have already subscribed to a product may still use it after it is deprecated, but no new developers may do so. We disapprove of this use of company funds for political activities. to say that you disapprove of something.

In order to maintain backward compatibility and give programmers time to bring affected code into compliance with the new standard, features are deprecated rather than immediately removed. The following are some of the primary causes of depreciation: A more potent substitute feature has taken the place of the former feature.

Thus, the ideal selection is option B.

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Sean works at Rowen Corp., an environmentally conscious apparel manufacturing company. He primarily focuses on the tastes and needs of the firm's customers. He achieves this by managing a team that regularly interacts with customers through various promotional activities and events. He also provides insights on how to produce eco-friendly outfits through his specialized knowledge of cost-efficient manufacturing processes. This implies that Sean:_______.a) is an HR professional.
b) encourages centralized decision making.
c) is a knowledge worker.
d) encourages a narrow business focus.
e) belongs to the external labor market.

Answers

Answer:

c) is a knowledge worker

Explanation:

A knowledge worker is an individual who is skillful, experienced, educated and whose duty is to apply his or her thinking creativity on the job. According to Peter Drucker, a knowledge worker is someone who is innovative and creative in terms of developing new products and services and one who always find a better way of doing things.

The job of a knowledge work is very complex hence involves expertise on the subject field. A knowledge worker most often develop new ideas and strategies to meeting needs of people rather than focusing on manual and repetitive work. Example of knowledge workers includes but not limited to engineers, scientists, physicians, lawyers etc.


Why is it a good idea to be organized in the workplace?

Answers

It is a good idea to be organized in a workplace because an organized workplace will facilitate increased productivity and increased efficiency.

What is workplace?

A workplace is described as a place where an employee or a manager carries out projects, tasks, and jobs. It is important to mention that workplaces are the areas that are located inside a building or can be outside an office building.

An organized workplace means that everything in the workplace is kept in its respective places, and everything is very neat and clean. Such an organized workplace will allow the managers and the employees to focus entirely on the work and be more productive and efficient.

It can be concluded that it is a good idea to be organized in a workplace because an organized workplace will facilitate increased productivity and increased efficiency.

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What is viability factors researches the demand for products or services?

Answers

Answer:

Viability is a mass noun that refers to something's capacity or potential for success. It may be a demand, an idea, a project, or even a plan to change how a business runs. Establishing viability is the goal of a viability evaluation. Product viability is the capacity of a software product to maintain itself or reach its potential.

Explanation:

The term "market viability" describes the commercial potential of a certain market. You may decide whether starting a business in a specific market makes financial sense with the use of a market viability analysis.

Industry size: Is there adequate room on the market for new vendors? Exists room for improvement?

Target market: Do potential customers have more money to spend? Can they afford to purchase your offering?

Competition: Who are the major retailers in this industry, in terms of competition? What are their advantages and disadvantages? How are you going to rival them?

Your objective is to eliminate any markets that are too small, too competitive, or comprised of clients who are unable or unable to pay your prices.

Because the amount paid is linked to certain predefined behaviors or outcomes, ______ is specifically designed to energize, direct, or maintain employees' behavior.

Answers

Answer:

Umomgey

Explanation:

Based on the amound paid by the FKSA, you will be able to govern an employees relations and beahviors.

Incentive pay  is specifically designed to energize, direct, or maintain employees' behavior.

What is Incentive pay  ?

Performance-based compensation known as incentive pay pays an employee for achieving predetermined goals or objectives. This payment may be made in the form of cash, stocks, extra paid time off, gifts, etc.

Instead of paying for the amount of hours worked, incentive pay is a monetary reward for achievement. The theory is that the possibility of cash reward will encourage the employee to meet specific performance goals or financial targets.

The basic goal of incentives is to tightly link employee rewards to their accomplishments. By offering greater remuneration for superior performance, this tie is achieved. Individuals will typically work harder because their performance depends on producing more and getting more rewards.

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If my revenue is one million and my expenses are 1,386,000, what's my profit in percentage

Answers

The profit in percentage given the revenue and the expenses is -38.60%

What is the profit in percentage?

Percentage is the fraction of a number expressed as a value out of 100. The sign that is used to represent percentage is %. In order to convert a number to percentage, multiply by 100.

Profit is the difference between revenue and expenses. Revenue is the total income earned by a company before any deductions are made. Expenses include all the cost incurred in running a business.

Profit = revenue - expenses

1,000,000 - 1,386,000 = -386,000

Profit in percentage = (profit / revenue) x 100

(-386,000 / 1,000,000) x 100 = -38.6%

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Which of the following would require an upward adjustment to net income when computing operating cash flows per the indirect method? (Check all that apply)'
A. Account payable decreases-'
B. You sold some property for a losse
C. Accounts receivable decreased
D. Prepaid expenses increased

Answers

When calculating operating cash flows using the indirect method, the decline in accounts receivable would necessitate an upward adjustment to net income. As a result, choice (C) is the appropriate one.

What is operating cash flow?

Operating cash flow (OCF), cash flow from operating activities (CFO), or free cash flow from operations (FCFO) are terms used in financial accounting to describe the amount of cash that a business generates from the revenues it receives, minus costs related to long-term investments on capital items or investments in securities.

Any expenditures or sources of funds related to a company's ongoing operations are referred to as operating activities.

Hence, option (C) is accurate.

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What things should you consider when setting up a checking or savings account with a financial institution?

Answers

Answer:

What profit will you get

Saturated fatty acids predominate in which of the following lipids?
1. canola oil
2. safflower oil
3. butter
4. olive oil

Answers

1. Butter saturated fatty acids predominate in butter. It is a solid fat derived from animal sources, primarily milk. Saturated fats are typically solid at room temperature.

Canola oil, safflower oil, and olive oil, on the other hand, contain predominantly unsaturated fatty acids and are liquid at room temperature. These oils are derived from plant sources and are considered healthier options due to their higher levels of monounsaturated and polyunsaturated fats.

Saturated fatty acids are a type of fat that consists of carbon atoms bonded to hydrogen atoms with no double bonds between the carbon atoms. This structure makes them straight and allows them to pack tightly together, resulting in a solid state at room temperature.

Butter, which is derived from animal sources, primarily milk, contains a significant amount of saturated fatty acids. That's why butter is solid at room temperature. Saturated fats are known to increase LDL (bad) cholesterol levels in the body and are associated with an increased risk of heart disease.

On the other hand, canola oil, safflower oil, and olive oil are derived from plant sources and contain predominantly unsaturated fatty acids. Unsaturated fats have one or more double bonds between carbon atoms, causing a kink in their structure. This kink prevents them from packing tightly, resulting in a liquid state at room temperature. Canola oil, safflower oil, and olive oil are considered healthier options because they contain higher levels of monounsaturated and polyunsaturated fats, which are associated with a lower risk of heart disease when consumed in moderation.

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Corporations can raise large amounts of money because:

shares of stock can be purchased in small amounts, so even small investors can participate.

investors always prefer to invest in stock so they can receive dividends.

stocks are always a good investment.

investing in the stock market is the surest way to get rich quick.

Answers

Because shares of stock can be bought in tiny increments, even novice investors can take part in corporate fund-raising efforts.

What do you mean by corporations?

A corporation is a business entity whose shareholders elect a board of directors to run its affairs. The corporation, not the shareholders, is in charge of the company's activities and financial situation. a large company run by a collection of companies as a single unit: a multinational corporation. UK Broadcasting Corporation

What is the importance of corporations?

In order to create value over the long term, a corporation must conduct legal, moral, profitable, and sustainable business practises. This necessitates taking into account the stakeholders who are essential to its success (shareholders, employees, customers, suppliers, creditors, and communities), as determined. A corporation protects its owners' personal assets from liability more than any other type of entity. For instance, even if a company's assets are insufficient to cover its debts, its investors will not be held personally liable in the event of a lawsuit.

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How do you manage your performance?

Answers

Effective way to manage performance is by setting goals, tracking progress, and reflecting on areas for improvement . Strive to stay organized and prioritize tasks to ensure meeting the goals. Continuous  feedback and follow ups from the colleagues and supervisors to gain insight and adjust the strategies as needed.

Performance management is a systematic method for developing and maintaining better employee performance, which boosts businesses' effectiveness.

Performance management is crucial from a business perspective to guarantee that corporate strategy and goals are met.

It enables managers and executives to concentrate on particular areas to fulfil goals. Without performance management, the business wouldn't know how it was doing and wouldn't be able to change its goals or the plan it utilised to get them.

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If all players play their best responses, then the corresponding strategy profile must be a nash equilibrium.
A. True
B. False

Answers

Answer:

False

Explanation:

Nash Equilibrium is when all players maintain their strategy for the entire game, and thus cannot gain a competitive advantage by changing strategies mid-game. If the question was worded "If all players must play their best responses, then the corresponding strategy profile must be a Nash equilibrium."  

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