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Contemporary Auditing: Real Issues and Cases » (7th Edition)

Book cover image of Contemporary Auditing: Real Issues and Cases by Michael C. Knapp

Authors: Michael C. Knapp
ISBN-13: 9780324658057, ISBN-10: 0324658052
Format: Paperback
Publisher: Cengage Learning
Date Published: August 2008
Edition: 7th Edition

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Author Biography: Michael C. Knapp

Michael Knapp has taught undergraduate and graduate auditing courses for more than twenty years. He has developed numerous online CPE courses and has testified in several major litigation cases involving accounting and auditing issues. His honors at the University of Oklahoma include the Merrick Foundation Teaching Award; Arthur Andersen Faculty Fellow, School of Accounting; Honorary Faculty Member, Golden Key National Honor Society; Distinguished Educator Award, School of Accounting; John E. Mertes, Jr., Presidential Professor; Delta Sigma Pi Professor of the Year, Price College of Business; and McLaughlin Chair in Business Ethics.

Book Synopsis

Stressing the human aspects of auditing, this text presents dozens of examples of real audits, with cases divided into thematic sections including comprehensive auditing cases, audits of high-risk accounts, internal control issues, ethical responsibilities of accountants and of independent auditors, professional roles, professional issues, and classic litigation cases. Updated with 13 new cases, this text is suitable as a supplemental undergraduate text or as the primary text in a graduate level seminar. Annotation c. Book News, Inc., Portland, OR

Table of Contents

Section 1Comprehensive Cases1
Case 1.1Mattel, Inc.3
Case 1.2ESM Government Securities, Inc.15
Case 1.3United States Surgical Corporation29
Case 1.4ZZZZ Best Company, Inc.41
Case 1.5Lincoln Savings and Loan Association57
Case 1.6Crazy Eddie, Inc.71
Case 1.7Penn Square Bank83
Case 1.8Star Technologies, Inc.93
Case 1.9The Fund of Funds, Ltd.105
Case 1.10Amre, Inc.119
Case 1.11General Technologies Group Ltd.129
Case 1.12Regina Company139
Section 2Audits of High-Risk Accounts147
Case 2.1Doughtie's Foods, Inc.149
Case 2.2Flight Transportation Corporation153
Case 2.3J.B. Hanauer & Co.159
Case 2.4Berkshire Hathaway, Inc.165
Case 2.5IFG Leasing169
Case 2.6Giant Stores Corporation179
Case 2.7CapitalBanc Corporation187
Section 3Internal Control Issues191
Case 3.1The Trolley Dodgers193
Case 3.2Howard Street Jewelers, Inc.195
Case 3.3E.F. Hutton & Company, Inc.199
Case 3.4Saks Fifth Avenue209
Case 3.5Triton Energy Ltd.215
Case 3.6Goodner Brothers, Inc.225
Case 3.7Troberg Stores235
Section 4Ethical Responsibilities of Accountants243
Case 4.1Creve Couer Pizza, Inc.245
Case 4.2Laurel Valley Estates249
Case 4.3Suzette Washington, Accounting Major253
Case 4.4Rocky Mount Undergarment Company, Inc.255
Case 4.5Oak Industries, Inc.259
Case 4.6F&C International, Inc.265
Case 4.7Accuhealth, Inc.271
Section 5Ethical Responsibilities of Independent Auditors277
Case 5.1Cardillo Travel Systems, Inc.279
Case 5.2The PTL Club285
Case 5.3Phillips Petroleum Company289
Case 5.4Mariner Corporation293
Case 5.5Koger Properties, Inc.297
Case 5.6American Fuel & Supply Company, Inc.301
Case 5.7Mallon Resources Corporation305
Section 6Professional Roles311
Case 6.1Leigh Ann Walker, Staff Accountant313
Case 6.2Bill DeBurger, In-Charge Accountant317
Case 6.3Sarah Russell, Staff Accountant321
Case 6.4Tommy O'Connell, Audit Senior325
Case 6.5Avis Love, Staff Accountant331
Case 6.6Charles Tollison, Audit Manager335
Section 7Professional Issues339
Case 7.1Hopkins v. Price Waterhouse341
Case 7.2When Auditors Become Lobbyists351
Case 7.3Maurice Stans, CPA361
Case 7.4Scott Fane, CPA365
Case 7.5Barringer Resources, Inc.371
Case 7.6National Medical Transportation Network379
Case 7.7Stephen Gray, CPA387
Section 8Classic Litigation Cases393
Case 8.1Fred Stern & Company, Inc. (Ultramares Corporation v. Touche et al.)395
Case 8.2BarChris Construction Corporation403
Case 8.31136 Tenants Corporation411
Case 8.4Yale Express System, Inc.415
Case 8.5First Securities Company of Chicago (Ernst & Ernst v. Hochfelder et al.)423
Case 8.6Equity Funding Corporation of America431
Case 8.7National Student Marketing Corporation437
Index453

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