Name ____________ Course Code _________ Grade ___/ Date__/__/__
Questions:
Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.
Solution:
Smackey Dog Foods is not a publicly traded company, so it’s not required to follow SEC regulations. However, the auditors are required to follow audit standards. (AICPA Code of Professional Conduct, Sarbanes-Oxley Act, and SEC rules) Therefore, SEC has great influence over the audit of Smackey Dog Foods. Inc.
Q2: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the Smackey Dog Food client?
Solution:
Initial auditing planning involves 4 things: (1) The…show more content… Auditors are primarily concerned about controls over the followings: * Controls over the reliability of financial reporting: Smackey Dog Food Inc. does not have adequate separation of duties. Haney is involved both preparing and approving all the inventory records. Kim the manager should approve the records. * Controls over classes of transactions: auditors emphasize internal control over classes of transactions rather than account balances because the accuracy of accounting system outputs depends heavily on the accuracy of inputs and processing ( transactions). (2) Auditor responsibilities for testing internal control: Section 404(b) requires the auditor report on the effectiveness of internal control over financial reporting. A result of federal financial reform legislation passed by congress in July 2010 only larger public companies are required to obtain an audit report on internal control over financial reporting. Since Smackey Dog Food Inc. is not a large public company, they are not required to obtain an audit report on internal control over financial reporting from Keller CPAs.
Q5: You decide that you will address Smackey Dog Food, Inc.’s accounts receivables through confirmations. Discuss the various types of confirmations and what forms you will implement and why. Solution: The primary purpose of accounts receivable confirmation is to satisfy
There is much to recommend feeding your dog homemade dog food if you have the time to prepare it, and make sure you have recipes that give the correct ratio of nutrients, as well as the vitamins and supplements you'll need to add. These can be mixed up in a bag, stored, and sprinkled in every meal. Dogs should have a minimum of 18% protein for maintenance when they are adults, and 22% for reproduction and growth. Fat should be a minimum of 5% for adult dogs, and 8% for reproduction and growth. But…
Best ZiwiPeak Beef Dog Food in 2018 For Your Dog In this article, I am going to review one of the best ZiwiPeak beef dog foods in 2018. So, if you are looking for a reliable beef based dog food for your pet dog, then you should read this article till the end. I am going to discuss the features, pros, and cons of this dog food and lastly, I ‘ll disclose my opinion whether this dog food is worthy of investing. Is ZiwiPeak a Reliable Brand? ZiwiPeak is a famous dog food brand from New Zealand. They…
Worksheet for You Decide Name Thea Zental____ Course Code AC 555_____ Grade ___ Date 02/19/2012 Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: The SEC (Securities and Exchange Commission) has a great influence on the audit of Smackey Dog Foods, Inc., which is conducted by Keller CPAs. When auditing a publicly held company, auditors need to observe principles. The ethical principles of the American Institute of Certified Public…
IBS XX 820 INTERNATIONAL BUSINESS PLAN The product: Dehydrated Dog Food The company: Amore Pet Food The target country: Japan Professor: Colin Raghunanan Students: Awa Oyetayo Galina Kokhan Ankit Chaubey Student numbers: 056-610-124 049-092-133 052-692-134 Due Date: 11th, April TABLE OF CONTENT: 1. Executive Summary………………………………………………………………………3 2. Corporate Profile 3.1 Background information on the…
External Auditing (AC 555) Professor: Marie Wang Project: You Decide- Smackey Dog Foods, Inc. by LJubomir Gataric Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: The SEC assists in providing investors with reliable information upon which to make investment decision. The Securities Act of 1933 requires most companies planning to issue new securities to the public to submit a registration statement to the SEC for approval. The…
Housetraining a new dog or puppy can seem a daunting task to the new owner. But understanding your options and the reasons behind the training can go a long way toward insuring a positive outcome. Housetraining Options Paper Your puppy or dog learns to eliminate on papers or puppy pads. Advantages: Portable, indoors, doesn’t require going outside on very cold or very hot days. Disadvantages: Dog may view any papers lying on the floor as fair game; if you plan on training your dog to go outside…
In my experimenting with the Pavlov’s Dog program I found the simplest training pattern to repeatedly produce the desired result of triggering the dog’s salivation without the presence of food. At first, the unconditioned reflex of the animal is observed. This means either the ham or the sausage is selected as the unconditioned stimulus to trigger the dog’s unconditioned reflex of salivation. In each successful trial, I first create a single sound—the horn. This sound represents the neutral stimulus…
Strategy Team 2/Case Study 2 September 15, 2015 Breeder’s Own Pet Foods, Inc Breeder’s Own Pet Foods, Inc is a major producer of dog food for show-dog kennels in the United States. Their executives viewed the retail dog food market as a growth opportunity and would like to begin by introducing their product; Breeder’s Mix dog food into the Boston area in 2011. Breeder’s Mix dog food is a nutritionally balanced, frozen dog food that is among the costliest to produce. Their product has no additives…
Zenith Pet Food Case PaperZenith Pet Foods, Inc. is a large distributor of show-grade dog food. The company distributes only within the United States. Its plan is to introduce the product in the Boston area. Zenith dog food is a high-grade, frozen dog food made of quality, organic ingredients. The target market has been show-dog kennels in the past, but the entity has recently turned its attention to the dog as a household pet. The product promises to produce a shinier, healthier coat on the consuming…
breeds dogs. She sells puppies to a loyal group of customers. She has been so successful as a breeder that 5 dogs she bred and sold have won international competitions. Because of her reputation her puppies sell for $3000 each. Katie saw an advertisement in a trade publication for organic dog food at a price of $5 per kilogram. She phoned the supplier in Alberta and left a message asking it to supply her with 200 kilograms of the organic dog food at a price of $1000, and that the dog food be sent…
