AUDITING

Audit Opinions

Audit

Introduction

As the scenario is describing that, the Kobyashi Moru has recorded its inventory, fixed assets, and depreciation, and the cost of goods Sold at the market value, at which the financial statements prepared. The general Accounting principle suggests that the goods and services purchased or served must be recorded at their historical cost. This is because the cost at which the asset was purchased, so that it must be recorded at that cost. This cost gives the true image of the asset, its efficiency and effectiveness can be measured, and cost (Depreciation) can be calculated. The Chinese law ...