The Canadian Economy

AFM 291 Professors Khim Kelly and Rob Ducharme Case assigning: Computone Corporation ASSIGNMENT: Assume the f are of the deductner-in-charge of the audit of Computone Corporation. You are required to write a jut memorandum on the comp some(prenominal)s revenue fuck off issues. (Although Computone is a U.S. alliance, please impart the Canadian standard CICA vade mecum Section 3400 and EIC 141, as outline in your text.) Please take to task the following questions in your memo: 1. Describe the companys stated revenue recognition form _or_ dodge of government before 1998 and aft(prenominal) 1998. Your definition should aim the following questions: a) Was the pre-1998 policy itself consistent with generally recognized accounting principles and the additional steering offered in EIC 141? b) How did the two policies address despatch gross gross revenue? c) How did the two policies address gross sales returns and allowances? d) Which of the two policies voluminous greater judgment on the companys part? 2. rate whether each of the revenue workings described in the strip is in compliance with generally accepted accounting principles and EIC 141. For each transaction that is not, exempt how it violates the guidelines. The table below whitethorn help work your solvent as it identifies each transaction.

proceeding sour sales: Barkley 1994 freight rate rate sale: Barkley 1994 Bill-and-hold sales: Barkley 1994 Early recognition: Barkley 1994 commission sale: Glaser 1995 Contingent procure dedicate: Montgomery 1996 assumed sales order: Auerbach 1997 3. pick up possible weaknesses in the system of rules of corporate governance in Computone that increase the risk of fallacious financial continueing (e.g. internal controls, venire of directors). INSTRUCTIONS: This report is an several(prenominal) assignment that is due no later than 4:00 pm on Friday, October 17, 2008. The word curtail for the report is 800 words, including exhibits, if any are included. Inclusion of an executive abstract is not required. You willing be graded on the fictional character of your case abbreviation; also, 10% of the grade will be for writing and presentation. Your report...If you extremity to trance a full essay, order it on our website: Ordercustompaper.com

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