What is the purpose of a “convenience translation”? How are they used in financial analysis? What are some features of financial statements that a company might translate in a convenience translation?   DQ2 Transfer Pricing [CLOs: 2, 4, 5, 6]. 1st Post Due by Day 3. Describe in detail one possible transfer pricing tactic that […]

As described in the text, gains and losses on foreign currency borrowings can be used to hedge the net investment in a foreign subsidiary. How are these reported in the consolidated financial statements? In addition, what other techniques may a company use to hedge net investments? Develop a 200 – 300 word analysis supporting your […]

With the possible conversion to Gross Output (GO), describe three of the most significant accounting issues that will be involved with converting from GDP.   Respond to at least two of your classmates’ posts.   DQ2 Managing Currency Risk [CLOs: 2, 4, 5]. 1st Post Due by Day 3. If you work for a publically […]

You are a CPA in a regional public accounting firm that has ten offices in three states. Mr. Shine has approached you with a request for an audit. He is the president of Hitech Software and Games Inc., a five-year-old company that has recently grown to $500 million in sales and $200 million in total […]

Your neighbor Brian Porter invited you to lunch yesterday. Sure enough, it was no “free lunch” because Brian wanted to discuss the annual report of Midway Corporation. He owns Midway stock and just received the annual report. Brian says, “Our auditors prepared the audited financial statements and gave an unqualified opinion, so my investment must […]

Watch Deal Killers for Small Companies and Financial Firms. The video discusses the Sarbanes-Oxley Act (SOX) and the Dodd-Frank Act. Summarize three key learnings you obtained from the video. Based on your own independent research, why were these two acts passed in the first place? Do you agree with the speaker that the acts have […]

Distinguish between an auditor’s responsibilities to detect and report errors, illegal acts, and fraud. What role does materiality have in determining the proper reporting and disclosure of such events? What ethical concerns might an auditor face when doing his or her job?   DQ2 AICPA and PCAOB Standards [CLOs: 1, 2]. 1st Post Due by […]

Business Roundtable. According to the Business Roundtable, “Effective corporate governance requires a clear understanding of the respective roles of the board and senior management and their relationships with others in the corporate structure. The relationships of the board and management with stockholders should be characterized with candor; their relationships with employees should be characterized by […]

CPA Independence [CLOs: 1, 4]. 1st Post Due by Day 3. Can a CPA be independent without being objective? Why or why not? Can a CPA be objective without being independent? Why or why not? Does your answer matter assuming you only provide only non-auditing services to the client? What if you provide both audit […]

Systems Analysis [CLO: 1]. 1st Post Due by Day 3. Referencing this week’s readings and lecture, discuss theprimary phases of systems analysis and the major challenges that a system analyst must overcome for each of the primary phases of system analysis.   DQ2 Database Architecture [CLO: 1]. 1st Post Due by Day 3. Compare and […]