All categories

2 years ago

Describe how Kabbage might evaluate the existence and completeness of an applicant’s revenue transactions.

Business

1 answer:

elena55 [62]2 years ago

3 0

Explanation:

Disruptive technology, new business ventures, and increased availability of data are quickly changing traditional financial reporting and assurance processes. As a result, prospective auditors not only need to understand fundamental auditing concepts, but also need to anticipate the influence that disruptive technology will have on the profession. The following case study provides a lens through which prospective auditors can view the coming changes to the profession by asking them to consider how the online lending company, Kabbage, is currently disrupting the lending industry for non-traditional and small businesses. Students contemplate several fundamental auditing concepts such as audit evidence, financial statement assertions, and analytical procedures while also acquiring insight into the effects that new and disruptive technology will have on the profession. The intention is to encourage students to embrace coming changes and become lifetime learners.

You might be interested in

A diverse team will almost always have _____ than a homogeneous team. more extensive external contacts lesser cognitive resource

AfilCa [17]

Answer: more extensive external contacts

Explanation:

Team diversity has to do with the differences that the members of a particular team have. Such differences can be due to religion, nationality, age etc. .

It should be noted that diverse team will almost always have more extensive external contacts than a homogeneous team.

6 0

3 years ago

Highland Industries makes custom yachts using a job cost accounting system. In anticipation of a busy year for 2019, Highland’s

il63 [147K]

Answer:

predetermined overhead per direct labor hour: $11.02

Explanation:

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$

To solve for overhead rate we determinate the expected cost and distribute them over a cost driver which is, in this case; direct labor hours

<u>Expected overhead cost:</u>

Machinery maintenance $ 181,350

Utilities $ 226,380

Supervision $ 191,000

Materials handling cost $ 67,000

Building occupancy costs $ 98,270

Indirect materials $<u> 31,650 </u>

Total overhead: $ 795,650

Total direct labor: 72,000

Overhead rate: 795,650 / 72,000 = 11.0206944= $11.02

3 0

3 years ago

Under the equity method of accounting for investments, an investor recognizes its share of the earnings in the period in which t

Sphinxa [80]

Answer: Earnings are reported by the investee in its financial statements

Explanation:

Equity method is when investments are being treated in associate companies and it is usually applied in cases whereby an investor entity holds about twenty to fifty percent of the associate company's voting stock. Due to this reason, it has a strong say in the associate company's management.

Under the equity method of accounting for investments, an investor recognizes its share of the earning in the period in which the earnings are reported by the investee in its financial statements.

8 0

3 years ago

In _____ innovation, innovations in products or services end up completely replacing existing products or service technologies.

MakcuM [25]

Answer:

disruptive

Explanation:

The term that is being described is known as a disruptive innovation. In the context of business theory, this term refers to an innovation that creates an entirely new market and value network which ultimately disrupts the old market and value network, while at the same time taking over market-leading firms, products, and alliances. One example of this are Smartphones which disrupted laptops as the primary way consumers use the internet in today's world.

4 0

3 years ago

Cash flows from __________ activities are the cash flows from transactions that affect the net income of a company.

neonofarm [45]

Answer: Operating

Explanation:

5 0

2 years ago