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Nastasia [14]
3 years ago
5

Internal controls are crucial to companies that convert from U.S. GAAP to IFRS because of all of the following risks except: Mul

tiple Choice Possible misstatement of financial information. Controls are significantly different across the globe. Possible fraud. Ineffective communication of the change to investors, creditors, and others. Management's inability to certify the effectiveness of the controls.
Business
2 answers:
ella [17]3 years ago
7 0

Answer:

Controls are significantly different across the globe.

Explanation:

An internal control refers to the policy or procedure set up by the management of an organisation to foster accountability, protect assets, enhance efficiency, eradicate fraud, and ensure policies of the organisation are adhered with.

Put simply, internal control is put in place to with the aim of prohibiting the employees from stealing assets and perpetrating fraud.  

It is therefore important for companies that convert from U.S. GAAP to IFRS to put in place internal control due risks of misstatement of financial information, fraud, and lack of effective communication of the effect of the conversion to investors, creditors and other users of the financial information.

Therefore, the fact that controls are significantly different across the globe is not a risk associated with conversion from U.S. GAAP to IFRS.

11111nata11111 [884]3 years ago
6 0

Answer:

Controls are significantly different across the globe.

Explanation:

     Risk include misstatement of financial information, fraud, ineffective communication of the impact of this change for investors, creditors and others users of the financial information and management inability to certify the effectiveness of the control.

     Risk management can be defined as the process that allows individual risk event and overall risk to be understood and managed proactively, optimising success by minimising threats and maximising opportunities.

     Controls are significantly different across the globe does not impact to fact that an organisation are at risk, as risk has to be managed from the top corporate level. these threats or risk could stem from a wide variety of source.

This control is part of internal control which only focuses on the the procedure or policy put in place by management to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.

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The highest value of total cost was $ 710 comma 000 in June for Horchata​ Beverages, Inc. Its lowest value of total cost was $ 5
marta [7]

Answer:

A. $ 450 comma 000

Explanation:

In order to compute the fixed cost per month first we have to determine the variable cost per unit which is shown below.

Variable cost per hour = (High total  cost - low total cost) ÷ (High production volume - low production volume)

= ($710,000 - $550,000) ÷ (13,000 units - 5,000 units )

= $160,000 ÷ 8,000 units

= $20

Now the fixed cost equal to

= High total cost - (High production volume × Variable cost per unit)

= $710,000 - (13,000 units × $20)

= $710,000 - $260,000

= $450,000

We simply applied the above formula

6 0
3 years ago
What is erikson's term for the period during which toddlers (aged 18 months to 3 years) develop independence and autonomy if the
amid [387]
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3 0
3 years ago
You were recently hired by a firm as a project analyst. The owner of the firm is unfamiliar with financial analysis and wants to
zalisa [80]

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3 0
3 years ago
Which one of these affects the length of the cash cycle but not the operating cycle? A) Inventory period B) Accounts payable per
kifflom [539]

Answer:

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Explanation:

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3 years ago
MC Qu. 6 Physical goods can be differentiated ... Physical goods can be differentiated from services in the operations managemen
swat32

Answer:

The answer is: Longer lead times and they can be inventoried.

Explanation:

Physical goods or products usually have longer lead times than services (although not necessarily) but the main difference between them is that they can be inventoried.

For example, a company that produces chairs can produce chairs during the week and then store them in a warehouse. But if a hotel only rents 30 of its 50 available rooms today, it cannot rent 80 rooms tomorrow, only 50. A service by definition cannot be inventoried, or stored for later use.

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