pro-accounting

Understanding an Auditor’s Responsibility Under ISA 240 Regarding Fraud

Learn your responsibilities if your client asks you to perform a financial statement audit. Discover what your role as an auditor is regarding fraud within financial statements under International Standards on Auditing 240. This includes what to do if you find fraud, how to communicate it, and what to document.

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accounting-news

Creating Higher Quality External Financial Statement Disclosures

Learn a few ways to make your client's financial statement note disclosures more valuable to readers. This includes thinking about your client's industry, being concise, opting for voluntary disclosures, and being more open on how your client determined their estimates or areas requiring professional judgement.

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pro-accounting

RAMP Mobility Grants Help Lower-Income Disabled Albertans

Find out how you can help your low-income clients in Alberta secure government grants to modify their homes to make it easier to get around. Through the Residential Access Modification Program, your client has to meet health, income, and project requirements before securing up to $15,000 for mobility projects.

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pro-accounting

What Is Money Laundering?

Discover the meaning and reasons why individuals perform money laundering. This includes examples of a number of different ways your clients might be laundering money including structuring, cash smuggling, or trade-based laundering. For each of these techniques, learn how to keep your eye out and notice this activity.

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pro-accounting

Accounting Term: What Is YOY?

Learn the meaning of year-over-year (YOY) analysis and how to calculate this metric. Understand when YOY analysis is helpful, the main benefits of this calculation, and when it might not be helpful. In addition, discover how YOY helps your client forecast, plan, and better understand operations.

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pro-taxes

How to Respond as an Auditor When You Suspect Fraud in Financial Statements

Learn what international auditing standards have to say about what to do when you encounter fraud. This includes how to interact with your client and how to change your approach to the audit, and under which circumstances it'd be best for you to entirely withdraw from the audit engagement.

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pro-taxes

How to Calculate Nonperishable Retail Inventory Holding Costs

Discover how to calculate your client's carrying cost to hold inventory. This includes the expenses to physically secure the goods, what it takes to get the goods delivered to your client's location, and what sort of noncash accounting expenses you might end up having to record to adjust the inventory's balance.

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pro-accounting

Accounting Tip: Nova Scotia Offers a First-Time Home Buyers Rebate on Newly Constructed Homes

Help your clients land the First-Time Home Buyers Rebate if they've purchased or moved into a newly constructed home. Learn what types of homes are eligible, how much of a rebate your client can get, how to calculate their rebate, and how long they have to claim the rebate until it expires.

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