题目
manager in charge of the audit of the financial statements of Indigo, for the year ending 31 December 2005.
Indigo owns office buildings, a workshop and a substantial stockyard on land that was leased in 1995 for 25 years.
Day-to-day operations are managed by the chief accountant, purchasing manager and workshop supervisor who
report to the managing director.
All iron, steel and other metals are purchased for cash at ‘scrap’ prices determined by the purchasing manager. Scrap
metal is mostly high volume. A weighbridge at the entrance to the stockyard weighs trucks and vans before and after
the scrap metals that they carry are unloaded into the stockyard.
Two furnaces in the workshop melt down the salvageable scrap metal into blocks the size of small bricks that are then
stored in the workshop. These are sold on both credit and cash terms. The furnaces are now 10 years old and have
an estimated useful life of a further 15 years. However, the furnace linings are replaced every four years. An annual
provision is made for 25% of the estimated cost of the next relining. A by-product of the operation of the furnaces is
the production of ‘clinker’. Most of this is sold, for cash, for road surfacing but some is illegally dumped.
Indigo’s operations are subsidised by the local authority as their existence encourages recycling and means that there
is less dumping of metal items. Indigo receives a subsidy calculated at 15% of the market value of metals purchased,
as declared in a quarterly return. The return for the quarter to 31 December 2005 is due to be submitted on
21 January 2006.
Indigo maintains manual inventory records by metal and estimated quality. Indigo counted inventory at 30 November
2005 with the intention of ‘rolling-forward’ the purchasing manager’s valuation as at that date to the year-end
quantities per the manual records. However, you were not aware of this until you visited Indigo yesterday to plan
your year-end procedures.
During yesterday’s tour of Indigo’s premises you saw that:
(i) sheets of aluminium were strewn across fields adjacent to the stockyard after a storm blew them away;
(ii) much of the vast quantity of iron piled up in the stockyard is rusty;
(iii) piles of copper and brass, that can be distinguished with a simple acid test, have been mixed up.
The count sheets show that metal quantities have increased, on average, by a third since last year; the quantity of
aluminium, however, is shown to be three times more. There is no suitably qualified metallurgical expert to value
inventory in the region in which Indigo operates.
The chief accountant disappeared on 1 December, taking the cash book and cash from three days’ sales with him.
The cash book was last posted to the general ledger as at 31 October 2005. The managing director has made an
allegation of fraud against the chief accountant to the police.
The auditor’s report on the financial statements for the year ended 31 December 2004 was unmodified.
Required:
(a) Describe the principal audit procedures to be carried out on the opening balances of the financial statements
of Indigo Co for the year ending 31 December 2005. (6 marks)
第1题
The rate of interest paid on a bank loan will depend () your firm’s standing with the bank and may be 2 per cent or 3 percent.
A、of
B、upon
C、for
D、in
第2题
(c) Prepare briefing notes, to be used by an audit partner in your firm, assessing the professional, ethical and
other issues to be considered in deciding whether to proceed with the appointment as auditor of Medix Co.
Note: requirement (c) includes 2 professional marks. (12 marks)
第3题
第4题
A.I'm thinking of placing an order.
B.This is a firm offer, remaining valid for a week.
C.I think it is unwise for either of us to insist on their own price.
D.Please sign your name here.
第5题
第6题
第7题
2015年12月英语六级考试听力题2答案
W: I was talking to Mary the other day, and she mentioned that your newconsulting firm is doing really well.
M: Yes, business paced up much faster than we anticipated. We now haveover 200 clients.
Q: What do we learn about the man from the conversation?
第8题
You are given the following financial data. The firm has a 30% tax rate and 9% weighted average cost of capital (WACC). Note: copy and paste this table into your Excel spreadsheet已知以下财务数据。企业有30%的税率和9%加权平均资本成本。注:请将下列表格粘贴到Excel表格当中去。
(1)2016年公司的自由现金流是多少?
(2)2016年公司的经济附加值是多少?
(3)2016年公司的投资资本回报率是多少?
第9题
一家竞争性厂商的短期成本函数如下:
C(q)=q3-8q3+30q+5
(1)求出MC、AC和AVC,并在图形上表示出来。
(2)当价格位于哪一区间时厂商产量为零?
(3)在图上标出厂商的供给曲线。
(4)当价格为多少时企业产量为6?
A competitive firm has the fallowing short - run cost function: C(q)=q3-8q2+30q+5.
a. Find MC, AC, and AVC and sketch them on a graph.
b. Al what range of prices will the firm supply zero output?
e. Identify the firm's supply curve on your graph.
d. At what price would the firm supply exactly 6 units of output?
第11题
It is said that your firm are in the market () textiles.
A、to
B、of
C、with
D、for
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