FILE: Business & Finance Verified Expert Solution

External Audit - Verification of Inventories

Problem Statement / Requirements:

Many companies employ outside service companies that specialize in counting, pricing, extending, and footing inventories. These service companies usually furnish a certificate attesting to the value of the physical inventory. Required: Assuming that the service company took the client company’s inventory on the balance sheet date: a. How much reliance, if any, can the auditors place on the inventory certificate of outside specialists? b. What effect, if any, would the inventory certificate of outside specialists have upon the type of report the auditors would render? Discuss. c. What reference, if any, would the auditors make to the certificate of outside specialists in their audit report? (AICPA, adapted)
Expert Business Solution Preview for External Audit - Verification of Inventories

Verified Audit File

Calculations & Analysis Included

ACCESS FULL AUDIT
✓ Accrual Accuracy ✓ Scholarly Reference ✓ PLAG-Zero

The EconHelp Precision Audit

01. Mathematical Rigor

Every derivation and calculation is checked for logic and accuracy by a subject matter expert.

02. Current Data sets

We use the latest financial indicators and economic reports to ensure your analysis is relevant to the current market.

03. Perfect Referencing

Full citations for every theoretical framework and data point used in the analysis.

04. Case Specific Logic

Tailored explanations that address the specific nuances of the business scenario provided.

Technical Help FAQ: Business & Finance

How can I learn from this business study?

Review the step-by-step calculations and the way theories are applied to the specific case data. Use the cited seminal works to further your own research and deepen your understanding of Business & Finance principles.

Do you handle Excel-based financial modeling for this topic?

Yes. For assignments in Business & Finance, we can provide professional Excel workbooks with clear cell-referencing and dynamic formulas that show the underlying logic of the financial projections.

Related Audit Logs

Business & Finance

SOX Regulations

Evaluate three cost/benefit ratios for most companies that are required to comply with SOX. Indicate whether the benefits are equivalent to the cost for minimizing the risk of accounting fraud. Provide support for the analysis.

 Business & Finance

BU345-7 UNIT 4 DISCUSSION

Some of your project team members don’t think it is possible to carry out all the activities associated with hosting a luncheon by the date specified.  Your team is now tasked with developing a project network diagram.  Conduct research and find two software programs that can be used to develop project network diagrams.  Compare and contrast the programs.  Which program do you feel is superior?  Why?  Explain your answer.

 Business & Finance

4/3 Pricing, Promotion, and Distribution Channels

Paper on Online High School construct a proposal to JGJ Inc. of 1000 words (+/- 50 words) using at least four credible and objective sources not provided as resources in the course in your analysis, plus at least one source provided in the course reading list. Use the titles in the Market Analysis Report Template to create six sections for this part of the consultant’s report: Analysis of Current Pricing Models in the Market Analysis of Current Promotional Models in the Market Analysis of Current Distribution Models in the Market Recommended Pricing Strategy for JGJ Inc. Recommended Prom...

 Business & Finance

750 word response

When the financial vice president determines that early implementation of the standard will adversely affect the reported net income for the year, he discourages Hoger from implementing the standard until it is required.

 Business & Finance

5/1 Devotional

250 - 300 words.  We are asked by our supervisors, peers, and work team to develop plans for success. We invest significant time and energy in finding and reviewing data, and manipulating spreadsheets and charts and graphs to forecast the future so we think we know what will happen. This course and many others train you on how to perform those analyses. The course author was once managing a sales team and asked a common question to one of its members, “How much will you sell next year?” The man, an openly devout Christian, quickly responded, “Whatever God brings to me.” While the author did n...

 Business & Finance

Need Response 2 to below discussion

Both theories are beneficial to the company. Its effectiveness depends on the type of business whether small or large firms, goals and visions and its operational structure. For example, manufacturing companies benefit from transactional style and organizations which need creativity like amazon will be empowered if they follow transformational style. Considering a larger organization, innovation is always the driving force in order to reach success and to be unique while equally monitoring the daily operations to stay in the game.

 Business & Finance

Unit 3 Discussion: Time Value of Money Internet Search

Search the Internet for any short article related to our topics this week of time value of money.  For the purpose of the discussion, avoid sites such as Wikipedia or Investopedia.  Once you find an article, discuss what you've learned or what your thoughts are.  Please also post a link to the article so others can access it.

 Business & Finance

Status Report

Using the Project Status Report Template, give a status (make up stuff if you like) using all the fields in the status report for a project in your company. You must include 4 additional slides in addition to the customized template below for a total of 5 slides.

 Business & Finance

Role play

You have just returned from a week's vacation and you got a call from home stating that your brother's engagement has been fixed and you are wanted immediately in your home town to get things organized. You know you boss will not like the idea of you going on leave immediately. Convince your boss.