Creation Finance . info » Class

Business Question for class! please help!?

admin — Mon, 06 Feb 2012 03:34:22 +0000

Question by : Business Question for class! please help!?
Online Business Class: this is the discussion question

“Madison Thorne works in a public accounting firm and hopes to eventually be a partner. The management of Allnet Company invites Thorne to prepare a bid to audit Allnet’s financial statements. In discussing the audit fee, Allnet’s management suggests a fee range in which the amount depends on the reported profit of Allet. The higher its profit, the higher will be the audit fee paid to Thorne’s firms.

Would you recommend that Thorne accept this audit fee arrangement? Why or why not?

Describe some ethical considerations guiding your recommendations”

Now i’m not asking for the answer, since it’s an online class its hard to ask to teacher but here are my questions

1. What does “prepare a bid to audit” mean?
2. What does “free audit” mean”
3. What does “free range” mean

Best answer:

Answer by JKRB
An audit bid tells the company being audited what actions will be performed and how much it will cost. The “audit fee” is how much will be charged. A “fee range” would mean the fees would change depending upon what actions are taken or what the results are.

You didn’t ask for the answer, but the source below shows the major auditing standard that would be broken if the auditing fee is based on the profit of the company. It has to do with the independence of the auditor. Basing the auditing fee on profit could affect the impartiality of the auditor or at least give the appearance of bias.

Give your answer to this question below!

Related Blogs

Technorati Tags: business, Class, Help, Please, Question

I am taking an educational finance class: question “what is a unit?”?

admin — Sat, 13 Nov 2010 12:18:34 +0000

by Great Education Colorado

Question by LA B: I am taking an educational finance class: question “what is a unit?”?
one of the end of chapter questions is “What is the beginning salary with an MA plus 30 units?” What is a unit?

Best answer:

Answer by JohnFK
Those are extra credits we get that wouldn’t value anything, similar to CE Credits for social workers and RN’s. You get the masters, then either concurrently or afterwards take coursework at the graduate level with the sole purpose of upping your salary to reach the top range, just short of PHD. I had a masters plus 45, which put me at a good salary position vs someone with just a BA in education. So, a unit would be a credit. I think each credit is 15 hours. You would have to research that. coursework would be given anywhere space was rented.

Give your answer to this question below!

Technorati Tags: Class, educational, Finance, Question, taking, unit

What Is A Good Video To Show A High School Personal Finance Class?

admin — Fri, 15 Jan 2010 07:47:34 +0000

I’m looking for something that I could pick up at a mall or video store tonight… my class has been good this week, we finished early, and I’d really like to reward them with a decent video. Something funny would be best… but it needs to match the curriculum! ><
Basically, anything about earning money, playing the stock market, etc will work… and it can't be R rated, unforunately.

Technorati Tags: Class, Finance, Good, High, Personal, School, Show, Video, What

Has Anybody Ever Attend A Class Or Seminar On Personal Finance? Did It Help You?

admin — Sat, 26 Dec 2009 07:57:05 +0000

Do you think it is just better to read books on this. So far I read a couple books. I was thinking of attending a class.

Technorati Tags: Anybody, Attend, Class, Ever, Finance, Help, Personal, Seminar

What To Take A Personal Finance Class But Not Sure?

admin — Mon, 16 Nov 2009 08:05:25 +0000

Yes, Would like to take this class but wondering if it will be a hard class, because I’m not very good at math. Planning on taking at the local college. Would also like to know what does this class all involved like what do they teach you. Please need help ASAP????

Technorati Tags: Class, Finance, Personal, Sure, Take, What

Will You Help Answering My Personal Finance Class Question?

admin — Sun, 25 Oct 2009 08:01:19 +0000

My teacher was discussing with my class about how the stock markets have dropped tremendously and wanted us to figure out what our country could enter if it continues. She also informed us that it had happened in the 1970′s. And its not depression. Is it resession?? Thank you so much!

Technorati Tags: Answering, Class, Finance, Help, Personal, Question, Will