Project #56891 - assignment

â–ª                Discuss the primary advantages and disadvantages of applying the direct write-off and the allowance method of writing off accounts. Even though the direct write-off method is not acceptable for generally accepted accounting principles (GAAP) reporting, take a position on whether or not estimating the allowance for doubtful accounts distorts gross income. Propose an alternative method to increase the accuracy of reporting. Explain your rationale.

 

 

 

Identify at least three (3) risk factors inherent in estimating the amount of customer write-offs. Explain the procedural steps in which accountants or auditors would follow to identify where material misstatement of receivables and associated gross income has occurred. Explain your rationale.

 

 

 

â–ª                Identify at least three (3) ratios that could be manipulated to mislead investors and creditors regarding the company’s financial condition. Examine the motivation of management to manipulate the ratios identified.

Subject Mathematics
Due By (Pacific Time) 02/08/2015 08:30 pm
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