Which of the following is a characteristic of a defined contribution post-employment benefit scheme?

Which of the following is a characteristic of a defined contribution post-employment benefit scheme?A . The amount of the post-employment benefits paid to former employees depends on how well the scheme’s investments have performed.B . The employer would make additional contributions into the scheme if the actuary predicted a shortfall in the funds available...

Continue reading

Whilst undertaking an external audit, the auditor has identified that there is insufficient evidence to support the financial statements

HOTSPOT Whilst undertaking an external audit, the auditor has identified that there is insufficient evidence to support the financial statements. As a result the auditors consider these financial statements to be wholly unreliable for decision making purposes. This will result in a modified audit report with the opinion being. View Answer Answer:...

Continue reading

A building was purchased on 1 January 20X1 for $300,000 and had a useful economic life of 40 years. On 1 January 20X5 the building was revalued by a professional surveyor at $450,000. Directors decided to incorporate the revalued amount into the financial statements.

A building was purchased on 1 January 20X1 for $300,000 and had a useful economic life of 40 years. On 1 January 20X5 the building was revalued by a professional surveyor at $450,000. Directors decided to incorporate the revalued amount into the financial statements. The accounting entries to record the initial revaluation of the...

Continue reading