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Write a 525- to 700-word summary. Research a recent article on auditing acquisitions, payments, property plant...

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Accounting

Write a 525- to 700-word summary. Research a recent article onauditing acquisitions, payments, property plant and equipment(fixed assets), notes payable, or owner's equity. Apply what youlearn to your future or current job.

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3.7 Ratings (413 Votes)
Solution Auditing Acquisitions and payment cycle In the matter of Acquisitions there are chances of company financials being manipulated For eg overstatement of inventory which shows big amount in the bag of assets and hence showing higher assets over liabilities giving good current ratio and liquidity ratio Undervaluing accounts payable which interprets lower current liabilities and gives a strengthfull picture of company To prevent this from happening auditors needs to closely monitor internal controls and key acquisition accounts Assess Risks Now a days    See Answer
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