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So for calculation of EVA you would deduct tax allowable depreciation treating it as economic depreciation for NOPAT ?
Yes i have never been on an audit that is why lack the practical substance of experience being in an audit firm.
Thank you for your assistance and for this valuable insight.
Cheers.I am putting my questions up again in order to make up for my mistake
Hi Mike,
In response to your answer, can you please tell me the contents of a schedule and the difference between schedule prepared by management and prepared by the auditor and what it comprise of ? And working papers are primarily the property of auditors than why management prepare them ? and what part of working paper can be done by the management ?
Thanks.Looking forward to your response.
Kind Regards.
I apologize for what you felt about my questions but it wasn’t even slightly intended as to what u felt like. I respect you for what you doing for individual students pursuing there accounting studies and may be it was because of the rush of the time that i got stuck up to the points i recognize my mistake.
Never mind if u don’t like to answer my post just wanted to make myself clear with what u felt about my questions.
Thank you for answering to my questions and on behalf of all other students who admire you and this website.
Cheers !! 🙂What are the contents of a typical schedule prepared. And schedules prepared by management are later audited by the auditor on which audit opinion is based ?
Give me an example of a schedule prepared by management and the reason why they are prepared and what information apart from the financial statements the auditor can extract from them.
And what differences might be between management made schedules and auditor made schedules. And why management prepare schedules ?
ok and can you please explain me your method and how we will identify what is uncertain and what is our choice ?
It is but the difficulty is, i am unable to understand when to use profit before tax and when to use profit before interest and tax in cash flows as there are some questions using PBIT. As my question, it was related to the calculation of PBT when SOCI is not given and we have to compute it from the net profit difference between retained earnings of current and subsequent year.