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ale4655 [162]
3 years ago
13

The clientele of black & company's audit practice consists primarily of privately-owned small and middle market companies. r

ecently, the firm won two audits of public companies, including one issuer. from an independence perspective, what effect will these new client engagements have on black & company?
Business
2 answers:
kramer3 years ago
7 0

Black & Co. will have to comply with SEC and PCAOB independence rules

stepladder [879]3 years ago
3 0
<span>By winning two new clients in form of publicly owned companies black & company increase its chances to open its services to a broader market. If the audit is successful and the new clients are satisfied black & company could get referrals which would lead to a growing clients base and therefore an increase in profits.</span>
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Mr. &amp; Mrs. Dart own a majority of the outstanding capital stock of Wall Corp., Black Co., and West, Inc. During 2010, Wall a
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Answer:

The amount that would be reported as receivables from affiliates is $0.

Explanation:

Here Mr and Mrs Dart owns a majority of shares of Wall corp, Black co, and West inc. In 2010 , wall made advanced cash to black($50,000) and west($80,000) and also west made advance to black($70,000).

While preparing the combined balance sheet for all these company's , any amount of account receivables will not be included because preparing a combined balance sheet is same as making consolidated balance sheet , were any inter company profit or losses , account receivables and payable are not included in the balance sheet , so therefore the amount that would be reported as receivables from affiliates is $0.

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4 years ago
Frank, the CEO of an American production company, negotiated an opportunity with a television provider in India. After the negot
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Answer:

The contract would be described as <em>International Contract.</em>

Explanation:

<em>International Contracts: </em>International contracts refers to a legally binding agreement between parties based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way such as the example of Frank contracting an Indian television provider.

Consequently, Frank and the Indian television provider having entered into a contract, are governed by international contract law unless they agree to abide by the laws of one of the US and India.

Moreover, <em>International sales contracts </em>are governed by the <em>United Nations Convention on Contracts for the International Sale of Goods (CISG) from 1980.</em>

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3 years ago
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Who pays taxes in a corperation?
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Answer:

<em>Companies, both private and public which are registered in India under the Companies Act 1956, are liable to pay corporate tax. For the assessment year 2014-15, domestic companies are taxed at the rate of 30%.</em>

Explanation:

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Once the decision has been made to implement an ERP system, the initial step is to select an ERP vendor.
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It is true that once the decision has been made to implement an ERP system the initial step is to select an ERP vendor.
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Mulally's use of "the way forward," which involved closing and modernizing plants, implementing data
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The actions of Mulally in doing the above can be said to be part of his <u>Strategy </u>for <u>Ford</u>.

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John Mulally was the CEO of Ford Motors and when he took over, Ford needed a turnaround in their fortunes. He engineered a series of changes to ensure that Ford would be competitive again.

In conclusion, this was his strategy.

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