What is a quality management plan? What might it include?
What will be an ideal response?
A quality management plan defines the acceptable level of quality in a project in accordance with the requirements of the customers and describes how the project will ensure an acceptable level of quality in its deliverables and processes. A quality management plan includes 1. roles and responsibilities of a quality management team; 2. quality tools and interfaces to be used in order to ensure quality in deliverables; 3 . rationale and purpose of quality processes; 4. required quality standards; 5. quality control methods and expected results; 6. quality assurance activities and expected results; and 7. quality improvement methods.
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Which of the following statements is true with respect to ownership, possession, or access to a CPA firm's working papers related to its tax practice?
A. Working papers may never be obtained by third parties unless the client consents. B. Working papers are not transferable to a purchaser of a CPA practice unless the client consents. C. Working papers are subject to the privileged communication rule, which, in most jurisdictions, prevents any third-party access to the working papers. D. Working papers are the client's exclusive property.
The city of Morgantown gave a piece of land to Acme, Inc so that the company would build its new factory in Morgantown and create many local jobs
One appraiser said the land was worth $500,000, while a second appraiser said the land was worth $520,000. 1. What effect will it have on Acme's earnings per share if it records the land at $500,000 rather than $520,000? (circle one) increase decrease no effect 2. What effect will it have on Acme's total assets if it records the land at $500,000 rather than $520,000? (circle one) increase decrease no effect 3. Name one ratio that will be affected by Acme's choice of value for the land. Will this ratio be higher or lower if Acme records the land at $500,000 rather than $520,000? 4. Explain the relationship between management's choice of recorded value for the land and the company's quality of earnings. What will be an ideal response?