ms, given the measures used? • How would you interpret the total amount for property, plant and equipment in the financial statements? • Compare the measures used by the different companies for similar items. Are there any inconsistencies in how similar items are measured by the different companies? Answer above by seeing 2020 annual report of Coles & WoolWorths AU and evaluate the PPE disclosure of WOW and COL.
ms, given the measures used? • How would you interpret the total amount for property, plant and equipment in the financial statements? • Compare the measures used by the different companies for similar items. Are there any inconsistencies in how similar items are measured by the different companies? Answer above by seeing 2020 annual report of Coles & WoolWorths AU and evaluate the PPE disclosure of WOW and COL.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter17: Other Services Provided By Audit Firms
Section: Chapter Questions
Problem 15MCQ
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Question
What do you know about PPE ( property, plant and equipment ?
• What range of measures is used to determine amounts for these items in the reports of the individual companies?
• Do you think it is valid to add the items, given the measures used?
• How would you interpret the total amount for property, plant and equipment in the financial statements?
• Compare the measures used by the different companies for similar items. Are there any inconsistencies in how similar items are measured by the different companies?
Answer above by seeing 2020 annual report of Coles & WoolWorths AU and evaluate the PPE disclosure of WOW and COL.
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