Question
REQUIRED: (i) Define audit working papers and explain their objectives. (ii) Explain any three types of audit that you know. (iii) Explain four methods of obtaining audit evidence for use in an audit.

Question
The insurance policy covered Maonyesho for both loss of stock and damage to premises though Maonyesho had agreed to pay the first TZS.500,000 of damage to premises. REQUIRED: Prepare a statement showing the calculation for the insurance claim which Maonyesho would submit.

Question
Between 26th March and 31st March 2018, the following transactions took place:                                                           ...

Question
01/01/2016; Buildings at cost amounted to TZS.650,000,000 01/01/2016: The balance in the provision for depreciation account was TZS.56,000,000 01/06/2016: Purchased a building for TZS.120,000,000 01/07/2016: Sold a building for TZS.85,000,000 which cost TZS.100,000,000. The book value of this building on 01/07/2016 was TZS.60,000,000 31/12/2017: ...

Question
Examination of the books showed the following: 1. Discount allowed of TZS.76,000,000 had been credited to the Discount Received Account. 2. A sale of TZS.151,000,000 to Mr. Allan had been posted correctly to the personal account but entered in the Sales Day ...

Question
LIST A: A. Profit from disposal B. Current asset C. Accounting softwares D. Subscription from members E. IAS 8 LIST B: A. Main source of income of club organization B. Change in an accounting policy C. An excess of cash proceeds over carrying value of non-current asset D. Rent ...

Question
(i) It is on the basis of going concern concept that the assets are always valued at market value. (ii) According to periodic matching of cost and revenue concept, a business man has not only to measure revenues in a particular ...