27 substantive tests for stockholders equity balances jones cpa the continuing auditor

Mequon Road, Mequon, WI spectruminvestor. Registration with the SEC does not imply a certain level of skill or training.

27 substantive tests for stockholders equity balances jones cpa the continuing auditor

The operating losses for these periods were experienced both in Source's Interactive Channel, which is in the development stage, and its On-Line Telephone Business.

Read 09_CH08_QXD:AEBQXD

Source expects that these losses will increase in as a result of, among other things, its continuing expenditures relating to its efforts to commercially introduce, deploy and enhance the Interactive Channel. Source expects to continue to incur operating losses through in excess of the amount of the operating losses experienced in past years and may incur operating losses at similar or greater levels thereafter.

To continue to implement its business strategy, which includes the further expansion of the Interactive Channel beyond several United States cable systems and the pursuit of other strategic and programming initiatives, and to meet its anticipated cash needs for working capital and other capital expenditures throughSource believes that during the first six months of it will require significant additional financing.

27 substantive tests for stockholders equity balances jones cpa the continuing auditor

Other than additional funds which may be available to Source pursuant to its Note Purchase Agreement with Northstar Advantage High Total Return Fund the "Senior Note Agreement"if certain conditions are met, Source currently does not have any arrangements with respect to, or sources of, additional financing, and there can be no assurance that any additional financing will be available to Source in the future on commercially acceptable terms, if at all.

The inability to obtain additional financing would have a material adverse effect on Source's ability to further deploy and enhance the Interactive Channel on the two cable systems where it has been commercially introduced or on an additional cable system or continue Source's operations.

To the extent that future financing requirements are satisfied through the issuance of equity securities, Source's shareholders may experience dilution.

The incurrence of additional debt financing could result in a substantial portion of Source's operating cash flow being dedicated to the payment of principal and interest on such indebtedness, could render Source more vulnerable to competitive pressures and economic downturns and could impose restrictions on Source's operations.

27 substantive tests for stockholders equity balances jones cpa the continuing auditor

The on-line information and services industry is characterized by rapidly changing technology and evolving industry standards. There can be no assurance that products or technologies developed by others will not render obsolete or otherwise significantly diminish the value of Source's technology used for the Interactive Channel or the On-Line Telephone Business.

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In particular, the Interactive Channel must compete with technologies that offer Internet access, some of which are currently available over the television.

Source expects that its success will be dependent upon its ability to enhance its products and services and introduce new products and services to a level sufficient to achieve consumer acceptance on a timely basis, which may require Source to obtain rights to additional technologies from other parties.

If Source is unable to design, develop and manufacture, or obtain and introduce such enhancements to its products and services and competitive new products on a timely basis, its business could be materially adversely affected. Source's future performance will depend substantially on its ability to manage change in its businesses and operations, to respond to competitive developments, to upgrade its technologies and programming, to commercially introduce products and services incorporating such upgraded technologies and programming and to adapt its operational and financial control systems as necessary to respond to continuing changes in its businesses.

Source may consider strategic acquisitions in either of its lines of business from time to time. Although there can be no assurance that Source will consummate any such acquisitions, to the extent that it does so, such acquisitions would require Source to expend funds, issue additional equity securities or 6 SPreparing students for the CPA licensure examinations and for employment in private establishment and public sector (government agencies) are subsidiary objectives which should judiciously blend with the primary goal of preparing students for a successful long-term professional accounting career.

Beyond prior literature that examines changes at the audit firm, audit office or individual auditor level following audit failures, we focus on the particular roles (i.e. concurring auditor or lead auditor) of individual auditors involved in audit failures.

An auditor obtains evidence of stockholders' equity transactions for a publicly traded company by reviewing the entity's: A. Minutes of board of directors meetings. List the audit objectives for substantive tests of interest-bearing debt.

b.

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RDA CORP (Form: S-1/A, Received: 08/23/ )