The Canadian Economy

AFM 291 Professors Khim Kelly and Rob Ducharme Case Assignment: Computone Corporation ASSIGNMENT: give birth the spot of the deductner-in-charge of the audit of Computone Corporation. You are required to write a design memo on the comp whatevers tax income experience issues. (Although Computone is a U.S. high society, please apply the Canadian model CICA enchiridion Section 3400 and EIC 141, as outlined in your text.) ravish talk the following questions in your memo: 1. Describe the companys stated tax recognition policy originally 1998 and aft(prenominal) 1998. Your description should manner of speaking the following questions: a) Was the pre-1998 policy itself consistent with mainly accepted accounting principles and the additional guidance offered in EIC 141? b) How did the devil policies address despatch gross barters? c) How did the two policies address sales returns and allowances? d) Which of the two policies voluminous greater judgment on the companys par t? 2. Evaluate whether for each one of the revenue works described in the case is in respect with GAAP and EIC 141. For each transaction that is not, explain how it violates the guidelines. The table infra may help work your response as it identifies each transaction. Transaction sour sales: Barkley 1994 freight rate sale: Barkley 1994 Bill-and-hold sales: Barkley 1994 Early recognition: Barkley 1994 Consignment sale: Glaser 1995 dependent on(p) purchase mold: Montgomery 1996 Fictitious sales order: Auerbach 1997 3. Identify possible weaknesses in the system of rules of corporate validation in Computone that increase the risk of fraudulent financial continueing (e.g. inside controls, board of directors). INSTRUCTIONS: This report is an individual assignment that is ascribable no later than 4:00 pm on Friday, October 17, 2008. The backchat limit for the report is 800 words, including exhibits, if any are included. Inclusion of an administrator summary is not required . You go outing be graded on the quality o! f your case abbreviation; also, 10% of the grade will be for writing and presentation. Your report...If you extremity to get a to the full essay, order it on our website: BestEssayCheap.com

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