North Face case solution free essay sample

Should auditors insist that their clients accept all proposed audit adjustments, even those that have an â€Å"immaterial† effect on the given financial statements? Defend your answer. The auditors should not insist that their clients accept all proposed audit adjustments. The auditor’s main duty is to provide reasonable assurance to verify the accuracy and compliance of client’s financial statements, to ensure that it conveys data and information of events occurred within the accounting period. When a misstatement is found, the auditor should decide whether the misstatement is material, considering both amount and quality perspectives. If it is a material misstatement, the auditor should mainly insist in making proper adjustments, because the misstatement will have a direct effect on financial statements and thus affect decisions of people who rely on it. However, if it is an immaterial misstatement, auditors should provide client with reasons of making adjustments. Since the immaterial misstatement will not have a direct effect on financial statements and thus will not affect people’s decision related to the financial statements, the auditor can appreciate management’s reasons and respect client’s decision. We will write a custom essay sample on North Face case solution or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Should auditors take explicit measures to prevent their clients from discovering or becoming aware of the materiality thresholds used on individual audit engagements? Would it be feasible for auditors to conceal this information from their audit clients? Auditors should take explicit measures to prevent client from discovering the materiality thresholds used on individual audit engagements. If unethical management or employee of client finds out the materiality thresholds, they will understand auditors’ intention and get chances to manipulate accounts and records. It may results in concealed material misstatements and difficulties in auditing. It is difficult for auditors to conceal the materiality thresholds from clients, because auditors usually need help of client’s employees. To minimize the probability of releasing the materiality information, auditors should pay attention to their words and behaviors and reduce communicating too much with clients. If there is a leak of materiality thresholds information, auditors can make changes of measurement index or adjust measurement basement. Identify and briefly explain each of the principal objectives that auditors hope to accomplish by preparing audit workpapers. How were these objectives undermined by Deloitte’s decision to alter North Face’s 1997 workpapers? ISA 230 indicates that principal objectives of audit workpapers are providing basis for conclusions about achievements of overall purposes of auditors and providing evidence that audit was planned and performed in accordance with regulatory requirements. Additional objectives include assisting engagement team with planning, performing and supervising services, retaining records of continuing significance to future audits, etc. In this case, Fiedelman was aware of the $2. 65 million portion of barter transaction but did not challenge client’s decision to record its normal profit margin on the January 1998 â€Å"sale† and overstate gross profit by more than $1. 3 million. Besides, Borden neither addressed the issue by simply contacting Vanstraten nor referred to authoritative literature to determine the entitlement of transaction. He did not advise an adjusting entry. Furthermore, the Deloitte personnel substitute a new summary memo and adjustment schedule to the original 1997 workpapers without documenting the revisions in those workpapers. 5. North Face’s management teams were criticized for strategic blunders that they made over the course of the company’s history. Do auditors have a responsibility to assess the quality of the key decisions made by client executives? Defend your answer. Auditors do not have the responsibility to assess the quality of the key decisions made by client executives. Auditors’ responsibility is to provide with an overall opinion whether financial statements are fairly presented and in compliance with GAAP. Auditors will also evaluate the client’s internal control if the company goes public. Assessing the quality of executives’ decisions is a part of consulting service instead of assurance service.

contract essays

contract essays Exclusion and Exemption Clauses. 166-170, 278, 281, 288, 355-356 An exclusion clauses is a term of the contract which limits or excludes a liability from one party which would otherwise be subjected to. The function of an exclusion clause is to limit or exclude liability for breach of an express or implied term or even negligence in a contract. The court approach to interpreting such a clause is to interpret them narrowly. With an unsigned documents, an exclusion clause will be binding only if the clause was brought to the notice of the customer. This notice must be reasonable notice and is determined objectively by the courts. The document containing the exclusion clause must be of a contractual nature before the courts will hold the exclusion clause to be binding. To determine whether a clause is a contractual document, the court employ the reasonable person test and ask: Would a reasonable person expect such a document to contain an exclusion clause or would it merely represent a receipt or voucher? If notice of the exclusion clause is not given until after the contract has been completed, the exclusion clause will not be binding. If the customer has had previous dealings with the defendant, the court will more readily infer knowledge of the exclusion clause. If the customer through his previous dealings knows about the clause then he will be bound by it. Henry Kendall If the effect or scope of exclusion clause has been misrepresented to the customers, the exclusion clause is not bindin ...

What Is a Perfect Square

What Is a Perfect Square SAT / ACT Prep Online Guides and Tips What is a perfect square? How do you know if a number is a perfect square? In this article, we’ll define perfect squares, provide a list of the first 25 perfect squares (and the integers that make them up), and teach you how to tell if a number is a perfect square. What Is a Perfect Square? A perfect square is a number that can be expressed as the product of two equal integers. What does that mean? Basically, a perfect square is what you get when you multiply two equal integers by each other. For instance: $$5 * 5 = 25$$ 25 is a perfect square because you’re multiplying two equal integers (5 and 5) by each other. You can also express $5 * 5$ as $5^2$. That’s where you get the term â€Å"perfect square† List of Perfect Squares Here’s a list of the first 25 perfect squares. A hint: if you want to create a perfect square, simply square an integer! Square Integers 1 $1 * 1$ 4 $2 * 2$ 9 $3 * 3$ 16 $4 * 4$ 25 $5 * 5$ 36 $6 * 6$ 49 $7 * 7$ 64 $8 * 8$ 81 $9 * 9$ 100 $10 * 10$ 121 $11 * 11$ 144 $12 * 12$ 169 $13 * 13$ 196 $14 * 14$ 225 $15 * 15$ 256 $16 * 16$ 289 $17 * 17$ 324 $18 * 18$ 361 $19 * 19$ 400 $20 * 20$ 441 $21 * 21$ 484 $22 * 22$ 529 $23 * 23$ 576 $24 * 24$ 625 $25 * 25$ How to Tell If a Number Is a Perfect Square You can tell if a number is a perfect square in a couple of different ways. First of all, if you create a square by multiplying two equal integers by each other, then the product is a perfect square. So, $1 * 1$ is a perfect square. So is $10 * 10$ and $1,000 * 1,000$. You can also tell if a number is a perfect square by finding its square roots. Finding the square root is the inverse (opposite) of squaring a number. If you find the square root of a number and it’s a whole integer, that tells you that the number is a perfect square. For instance, the square root of 25 is 5. The square root of 26 is not a whole integer. So, 26 is not a perfect square. Key Takeaways: Understanding Perfect Squares A perfect square is a number that can be expressed as the product of two equal integers. You can tell if a number by finding its square root and seeing if that square root is a whole integer. What's Next? Getting ready to take the ACT? We have a list of31 formulas you must know to conquer the ACT. Taking the SAT instead?Here’s a list of our favorite SAT Math prep books that will help set you on the path to success. Looking to brush up on your fundamental algebra skills?A good place to start is mastering systems of equations.

Conversation Topics for business occasions Essay

Conversation Topics for business occasions - Essay Example Awareness of these goals provides the subordinates with a direction so that they can equip themselves with the skills required to be eligible for the opportunities lying ahead. The subordinate should particularly try to ask the boss how he/she would be involved in the project. The subordinate should try to consent with the boss over the basic approach and standards. The subordinate should share with the boss what he/she thinks the ideal approach is and then he/she may ask the boss for input. â€Å"Be sure you understand upfront what the guiding principles are for the work — not just the tactical elements. These principles are what you should be discussing with your boss† (Chatman cited in Gallo, 2011). In addition to that, the chances of subordinates’ consideration for those opportunities by the boss are enhanced because the boss has already discussed the plans with them. A very good and informative topic of discussion is technology. Discussing latest technologic al research and products with a boss not only sets a good impression upon the boss, but also forms a very interesting topic of discussion. These days, with the pace of technological development being so fast, there is a lot to discuss. Subordinates can discuss the innovative features of the latest gadgets, draw comparison between the newest and the old models of gadgets, discuss whether a particular gadget is worth investing money in or not, and most importantly, whether a certain gadget can be used to improve the business they are concerned with in some way. Business meetings are very suitable occasions to discuss innovative ideas in. Subordinates can suggest to a boss how the use of a new gadget can help them in the business operations, and how it can be integrated into the organizational culture. This impresses upon the boss that the subordinates are very knowledgeable, hard working, and can contribute to the development of the organization. Politics might be a good topic of disc ussion with a boss in a business meeting provided that the subordinates can consent with the boss’s opinion and show respect for his/her views. Nevertheless, it is a risky topic to discuss with a boss because many people have emotional connections with their political parties and when they discuss politics, they indulge into a heated argument with the critics. If this happens between a boss and a subordinate, it is not good for the relationship. While discussing politics, it is recommendable for the subordinates to first listen to the boss’s stance, if they can agree with that, they should discuss it; if they cannot, they should either remain silent or try to change the topic articulately. Every topic that is discussed in a business meeting between a boss and the subordinates does not necessarily have to relate to business. Sports is another very interesting and engaging topic to discuss with a boss on a business meeting. Meetings are wonderful occasions for discussing sports because the boss and the subordinates are having a one-to-one discussion, and have sufficient time to discuss such things. This is different from the daily interaction that happens in the office which is constrained by limited time and pressure of work. â€Å"During the frenetic work week, they encounter the boss as the source of discipline, assignments, occasional reprimands and, typically, very little personal chit

It is a summary, so i don't know which better topic could be. please Essay

It is a summary, so i don't know which better topic could be. please write the best, thanks - Essay Example edge over the then available coloring products since it penetrated the scalp, and nourished the hair along with dying it, and Gelb later introduced the single-step coloring process called Miss Clairol Hair Color Bath. With the release of Miss Clairol, the number of women opting for hair dying increased drastically. Polykoff, the model advertising the Miss Clairol Hair Color Bath, had to select the ad very prudently, but still some controversies arose particularly because of fact that Gelb’s product could be applied at home personally came as a threat to the salons’ business. The company’s objective was to sell the product without causing any damage to the hairdressers’ status along with emphasizing upon the automaticity of the product to sell it. Miss Clair not only portrayed the image of a new woman, but also inspired many companies to open as its competitors, that are known as some of the most reputable brands

eBay and Cable TV :: essays research papers

Cable Tv has long been considering ways in which they could create an interactive experience for viewers. Most plans fell to the wayside and were not taken seriously due to lack of interest, as well as, a surge in more profitable sectors including digital cable, high-speed Internet, and telephony. Any interest that was given to Interactive Television (ITV) centered around shopping. Analysts such as Gary Arlen, president of Arlen Communicaitons, note that the rise of e-commerce has made consumers more comfortable with buying things from a screen. Despite the reluctance of consumers to adapt, and due to the change in consumer spending habits, cable TV operaters have a renewed interest in ITV and are trying to work out a way that viewers can use a remote control to make purchases as instantly as they change channels. Time Warner Cable has teamed with eBay to smooth the transition and for a test group of 50,000 participants in the Austin, Texas area, ITV became a reality last Thursday. Those researched were already renting boxes from the cable service and subscribed to its digital video recorder service before being introduced to the new concept. This "trial" effort is being offered at no charge and marks the first deal for the Plano, TX-based Biap System's eBay on TV service. Users of the service can access their eBay accounts, submit new bids on watched items, and track existing bids with a remote control, but no search of eBay is currently offered unfortunately. Though using eBay to revitalize the ITV concept is a smart move, eBay is not the first ITV channel. Always on the cutting edge of consumer technology, Sharper Image launched its ITV offer in February on satellite TV programming provider Dish Network.

Climate Change Essay

The weather has been completely different the last few years for us in Indiana because it has been warm winters and really hot summers. The bad thing about having warm winters is that it does not kill off the bugs for the summer months. It will make them worse than what they were the summer before and have greater risks for diseases from mosquitoes like malaria and diarrheal diseases. When we had a drought a few summers ago, too, it was hard for farmers to grow their crops and to supply enough food for people. Not having enough food could lead to malnutrition, which could be very harmful and even cause death to people. The weather has many effects for people around the world. The planet’s weather is expected to become not only warmer on average, but more variable, with more frequent and intense heat waves, droughts, and torrential rains. Warmer air holds more moisture, so the global hydrologic cycle is expected to accelerate and intensify, leading to violent storms and stronger hurricanes. In addition to their effects on infectious diseases, such extremes of weather pose direct physical risks to the humans in their path-heat stroke, drowning, dehydration, and injury. (DeWeerdt, 2007) If the weather continues to be more variable with extremely hot summers that will cause more injuries for people and for the planet. It would cause more heat strokes and higher death rates. The climate change will affect the weather and cause more serious storms that would be worse than Hurricane Katrina, the August 2005 storm that slammed into the U.S. Gulf Coast and inundated New Orleans. Scientists believe that we would expect to see more storms like that possibly even worse if the climate keeps changing. Another factor for climate change is over population in the world and they are interlinked in complex ways. Most obviously, population growth worsens climate change-more people on the planet means more carbon dioxide emissions. And Parry and Rosenzweig’s modeling of food security indicates that reducing the rate of global population growth would do more to reduce the number of hungry people in the world than would limit climate change. (DeWeerdt, 2007) Limiting the number of hungry people in the world would possibly limit the number of malnutrition people in the world. If the climate keeps changing  globally, food production is likely to decrease because the weather will not be the best in the parts of the world that crops are best grown. There are researchers from various institutions have been modeling the possible effects of climate change on production of the world’s staple grain crops: wheat, rice, maize, and soybeans. Their work integrates several complex computer models-of global climate, crop yields, world food trade, and various patterns of economic development and population growth-to predict future global agricultural production and the risk of hunger. Globalization will have to come into play for trade because some countries will be able to grow certain crops better than others. Not all countries can be the best at growing all crops. If everyone is able to help then we will all be able to lower malnutrition and help lower the hunger rate. Finally, much research on climate change and infectious disease has focused on vector-borne diseases, in which a pathogen is carried from one human host to another by a third species, often a mosquito or other type of insect. Common vector-borne diseases in developing countries include malaria and dengue fever; both transmitted by mosquitoes, and in developed countries Lyme disease, transmitted by ticks. (DeWeerdt, 2007) If the climate changes and people have to make manmade rivers to help their crops it could cause breeding areas for mosquitos or other types of insects that carry the diseases. The diseases can be extremely harmful and even cause death to humans and animals. The populations most at risk from the spread of malaria may be those at the margins of the disease’s present distribution in developing countries without good access to health care. As malaria invades these new areas, its effects may become more severe. â€Å"When you have an outbreak in an area where people are not immune, they’ve not been exposed to malaria regularly, mortality can be 20 or 30 percent,† Kristie Ebi says-compared to about 3 percent in areas where the disease is long established. Moreover, because malaria is such a common disease-infecting half a billion people each year and killing 1 to 2 million-a very slight increase in the relative risk of the disease can translate into hundreds of thousands of additional cases. (DeWeerdt, 2007) These numbers could rise if the climate is changing because weather temperatures will be warming than usually and increase breeding for insects. Overall, climate change is possible and it is happening. Everyone has had temperature changes in the summer and winter that were above normal. Our winters have not been extreme to kill off many of the insets and help with eliminating possible disease carrying insects. The weather also will affect the growth of food and need to start world trade to make sure we can try to eliminate hunger across the world. This could be difficult with worse storms that could happen with the climate change. It seems it is a circle because if there is bad weather it will affect our growth for food and the population to insects, such as mosquitos, will increase which will increase the diseases around the world. Works Cited DeWeerdt, S. (2007, May/June). Climate Change, Coming Home. Retrieved April 26, 2014, from WorldWatch Institue: http://www.worldwatch.org/node/5019