Financial Statement Presentation Exercises

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Part 1

Imagine that you are the manager of the general accounting section of the finance department. Your team prepares the stockholders’ equity section of the balance sheet, along with long-term liabilities and receivables. You are in the process of closing the books for the period ending December 31, 2010.

Your staff accountant was calculating the interest expense for a note payable that had the following terms: amount of $40,000, interest rate of 10% with a term of 5 years, and interest paid semiannually to the bank. The staff accountant calculated interest expense to be $7,500 as of December 31, 2010. Unfortunately, the senior accountant did not catch it before it came to you.

Using PCOAB Standard 5 as a reference, recommend some steps that should be implemented to ensure the error is detected before it comes to you for posting to the general ledger.

Part 2

You reviewed the notes to the financial statements and noted that none of the information related to the bonds payable was listed.

Using PCAOB Standard 5 and APB 26 as references, what would you tell the accounting manager about the adequacy of the disclosure of long-term liabilities? Justify your position.
As the auditor, what process would you suggest that the accounting manager implement to improve the accuracy of the financial statements?

 

 

 

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Seamus Heaney’s Poems

Seamus Heaney’s writer Heaney was conceived on April 13, 1939. He is the biggest of nine youngsters. In current society, typically there are 2 to 3 youngsters, 8 to 9 kids are viewed as bizarre. Heaney lives in Mossbawn family ranch around 30 miles northwest of Belfast in Delhi. The vast majority of UK occupants live in urban territories and few inhabitants live in provincial regions. In country territories it was progressively mainstream and lived. Individuals in rustic territories live in a culture totally not quite the same as the individuals in the industrialized regions of the city.

Conversation sonnet Seamus Heaney ‘s naturalist and individual Helicon’ s demise are both verse encompassing Seamus Heaney ‘s youth. In the two stanzas, the peruser is educated about the memory of Heaney as a kid and his developing memory as he develops, and a superior comprehension of his environmental factors from the grown-up’s perspective. This article inspects and assesses how grown-ups can be molded from their youth experience and delineates his own feelings and issues Seamus Heaney drives him to an incredible phase We will examine what to use for. I anticipated it from his kid’s viewpoint, and when he composed a sonnet.

Investigate Seamus Heaney, an artist with two kids’ topics. Examination and Comparison of Two Children’s Theme Poems After looking at Seamus Heaney’s “Demise of Naturalism” with four sonnets, I think about and analyze two most loved sonnets “The Death of Naturalism” I made it. “Also, devotees” These are accounts of a youth age in the nation. These mirror Heiny’s emotions about the different parts of life around him. This is one motivation behind why I picked these two sections.

Seamus Heaney’s “exhuming” is the principal sonnet of the main full volume of Heaney’s sonnet, “the passing of naturalism”. “Demise of a naturalist” is about the change to adulthood and the way toward losing guiltlessness. This sonnet shows what Hynie looked like at his dad and granddad, particularly their perseverance. Regardless of whether Heaney didn’t follow their strides however turned into a ranch specialist, he regarded the work they did, particularly the abilities they burrow. This sonnet is a free verse. There are 8 segments and 2 caplets. Now and then it rhymes, however there is no rhyming example. The initial two lines are rhyming with “thumb” and “firearm”, and there are some rhyming words in the subsequent quarter. This sonnet is the narrative of the primary individual, this can be found in the principal line utilizing “my” and in different lines utilizing words, for example, “I” or “us”. As every one of the three ages referenced are burrowing, the title is identified with verse

 

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