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ACC311 Assignment no 02 Solution fall provided by VU

SEMESTER FALL 2012 FUNDAMENTALS OF AUDITING (ACC311) SOLUTION OF ASSIGNMENT NO.02 DUE DATE: 09th JANUARY 2013 MARKS: 25 1. No, the auditor’s assessment of risk is judgmental only and is not sufficient enough to identify the material misstatement in the financial records. The auditor should conduct the complete audit procedure and then express his opinion about the fairness of the ... Read More »

ACC311 Solved MCQS & Quizs Fall 2012

Fundamentals of Auditing (ACC311) Quiz # 01 Which one of the following cannot be considered as the essential feature of Auditing? An auditor is involved in the examination of financial statements b.      The auditor is responsible for the preparation of the financial statements The end result of an audit is an opinion to assist the user of the financial statements. The auditor should be independent ... Read More »

ACC311 Assignments # 2 Solution Spring 2012

Assig nment Question: A large engineering company has 1 2 manufacturing plants all over the country. Its production/manufacturing process is capital intensive and company has different types of plants. Preparatio n of annul d etailed budget of assets especially non-cuurrent assets is the responsibility of finance manager. Thereafter, this final b udget is sent to the Board of directors for ... Read More »

ACC311 Assignments # 1 Solution Spring 2012

Weakness Of Internal Control System Ahmad & Co.  is  a  construction  company  having  large workforce  for  its  different  work  sites. Wages system is being reviewed in the entity by an audit team. Following information is available about the wages system. •  At  the  time  of  entrance  and  exit,  workers  punch their  job  cards  on  the  clock  system  for recording of ... Read More »