Mr. Mteta has approached you with a view to obtaining help in determining his taxable income for 2005. He has supplied the following information: 1. Business […]

Company B has a provision in its balance sheet for claims made by customers for product defects under 1-year company warranties. Required: Describe the matters you […]

Company A has a number of long and short-term payables, accruals and provisions in its balance sheet. Required: Describe the audit procedures you would apply to […]

Flowers Anytime sells flowers wholesale. Customers telephone the company and their orders are taken by clerks who take details of the flowers to be delivered, the […]

List and explain any three deductions that may be available against gains or profits from employment

i) Mr. Ali Ming is a hardware merchant. He purchases cement from Athi Cement Ltd. which he then sells to his customers. Both Ali Ming and […]

What are the rules governing the payment of VAT? Specify the additional tax that may arise from failure to comply with those rules.

The objectivity of the external auditor may be threatened or appear to be threatened where: (i) There is undue dependence on any audit client or group […]

i) Distinguish between a direct and indirect tax. (ii) Is Value Added Tax (VAT) a direct or indirect tax? Explain