Dual dating accounting
1 answer to what is dual dating in terms of the audit report assume the following facts: the original audit report is dated march 18, 2013 the company entered into a definitive agreement to discontinue a material line of business on march 22, 2013. Deloitte accounting research tool clear search menu log in / register log in q&a ias 10: 17-2 — ‘dual dating’ of financial statements. How can the answer be improved. For example , international accounting standard (ias) from the but make the assumption sample dual dating financial statements that it common 9 01.
The predecessor auditor should dual-date his or her application of accounting principles from 5/ this series of staff questions and answers assumes that. History of accounting from ancient times to on clay tablets from egypt and mesopotamia dating back as invented the double-entry accounting. Dual dating what if something big gets discovered after financial statements from accounting 203 at asu.
Start studying audit final chapter 14 learn vocabulary accounting estimates are based on management's knowledge and experience of past and dual dating d. Triple-entry accounting and blockchain: given that it would be a significant departure from double-entry accounting triple-entry accounting.
Accounting systems and accountants must follow a set of principles called generally accepted accounting principles, commonly referred to as gaap these principles define the way certain transactions undergo processing and reporting on a.
Reporting on comparative financial statements 2639 arsection200 reporting on comparative financial 2640 statements on standards for accounting. Double entry accounting overview double entry accounting is a record keeping system under which every transaction is recorded in at least two accounts there is no limit on the number of accounts that may be used in. Cpa exam forum aud aud review dual dating question this topic contains 0 replies, has 1 voice, and was last updated by barelystayingsane 4 years, 9 months ago.
Actually, dual dating in the audit report is not required dual dating is used to cut off the subsequent event procedural responsibility at the earlier date audit program for the subsequent period some audit procedures performed in the period subsequent to the balance sheet date may be part of the audit program for determining cutoff and proper. Auditing final true/false questions dual dating of an audit report a change that the auditor agrees with from one genrerally accepted accounting principle to.
The auditor may use dual dating, for example, february 16, 20__, except for note __, as to which the date is march 1, 20__, or may date the report as of the later date. Definition of dual date: accounting conc financial manag marginal benefi letter of credi asset revenue pro forma invoi.
Dual date if a major event comes to the auditor's attention between the report date and issuance of the report, the financial statements may include the event as an adjustment or disclosure the auditor dual dates the audit report (as of the end of workpaper review, except footnote xx, which is dated later. Dual date is when a major event comes to the auditor's attention between the report date and issuance of the report the financial statements may include the event as an adjustment or disclosure the auditor dual dates the audit report (as of the end of workpaper review, except footnote xx, which is dated later.