ACCTG456 Lecture Notes - Costs In English Law, Financial Statement
8 Apr 2014
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The staff at nguyen and partners have completed the necessary audit work for manitoba metal. The partner responsible for the audit is now reviewing the audit file. She has come across the schedule of unadjusted differences and is considering the type of audit report to issue. Referring to the potential adjusting journal entries above, answer the following: Explain the impact these entries have on the current year financial statement balances. In analyzing legal expense for bestman bottle company, lyle little, a cpa, observes that the company has paid legal fees to three different law firms during the current year. In accordance with his accounting firm"s normal operating practice, lyle requests standard confirmation letters as of the balance sheet date from each of the three law firms. On the last day of fieldwork, lyle notes the following: One of the confirmations has not yet been received.
