The Canadian Economy

AFM 291 Professors Khim Kelly and Rob Ducharme Case Assignment: Computone Corporation ASSIGNMENT: put one over 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 gross experience issues. (Although Computone is a U.S. play along, please apply the Canadian regular CICA enchiridion Section 3400 and EIC 141, as outlined in your text.) amuse talk the following questions in your memo: 1. Describe the companys stated receipts recognition policy in the beginning 1998 and aft(prenominal) 1998. Your description should overlay 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 deuce policies address despatch gross changes? c) How did the two policies address sales returns and allowances? d) Which of the two policies voluminous greater judgment on the companys part? 2. E valuate whether each of the revenue works described in the case is in accord with GAAP and EIC 141. For each transaction that is not, explain how it violates the guidelines. The table downstairs 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 contingent purchase localize: Montgomery 1996 Fictitious sales order: Auerbach 1997 3. Identify possible weaknesses in the system of rules of corporate memorial tablet in Computone that increa se the risk of fraudulent financial contin! ueing (e.g. inherent controls, board of directors). INSTRUCTIONS: This report is an individual assignment that is collectable no later than 4:00 pm on Friday, October 17, 2008. The countersignature limit for the report is 800 words, including exhibits, if any are included. Inclusion of an decision maker summary is not required. You go awaying be graded on the quality of your case abbreviation; also, 10% of the grade will be for writing and presentation. Your report...If you extremity to get a broad(a) essay, order it on our website: BestEssayCheap.com

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