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You need to read the auditing article regarding “Analytical procedures” very carefully to write an acceptable comment on it. Comment should be detailed oriented. “Analytical procedures are an important aspect of not only understanding financial data, but also of flagging and researching inconsistencies. As a result, accountants are often planning and evaluating the results of analytical procedures. It is mandatory that the auditor perform risk assessment for the identification and assessment of risks of material misstatement at the financial statement and assertion level, and the risk assessment procedures should include analytical procedures. It is also mandatory that the auditor should perform analytical procedures near the end of the audit that assess whether the financial statements are consistent with the auditor’s understanding of the entity. Analytical procedures refers to the analysis of significant ratios and trends including the resulting investigation of fluctuations and relationships that are inconsistent with other relevant information or which deviate from predicted amounts. In using analytical procedures, the auditor would evaluate an entity's financial information with comparable information from prior periods, and also consider similar industry information. Common tests such as ratio analysis and trend analysis can be used to derive the type of information the auditor is seeking. Unexplained variations may indicate a misstatement in the figures in that area, which would lead the auditors to plan their audit work to devote more time and resources to those areas. When the application of analytical procedures does not identify any unusual or unexpected differences, the results provide evidence in support of management’s assertions.” Please poste your writing that must be copy and paste able to update in word document. I am not so rush so take times to answer perfectly.
Accounting Rate-of-Return and Payback Period Methods - complete a case that focuses on "Capital Investment Analysis",
Grace Manufacturing Company needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 25 percent of total sales each month. Historically, sales on account have been collected as follows: 50 percent in the month of the s..
Calculate the cash flows for the new crystal jewelry project given the same assumptions in part 2 but considering a 3 year option
How much did the company spend on offering costs related to this initial public offering (IPO) in 2015? What amount of common stock did FitBit Inc. issue in exchange for acquisitions?
Garland Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2013. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31. Garland uses the straight-line method of amortization. What i..
You are the forensic accountant for Jamestown Electric. What are the accounting issues in this case? What are the damages in this case? What documents and other information do you intend to seek? Illustrate what is the basis for your opinion?
Calculate the amount of cash and cash equivalents that will be shown on the company's year-end balance sheet.
Tunley began Tunley Office Services in October and during that month completed these transactions: Prepare journal entries to record the above transactions. Explanations are unnecessary.
What worksheet entries are required in connection with the consolidation of this asset? Consider that the parent applies the partial equity method.
Calculate the amount of Rent Revenue recognized in 2012 and Show computation and prepare the adjusting entry on December 31, 2012 for PVP.
barrington bears bb has developed the subsequent sales forecasts for the next few months january 500 february 600 march
find the reorder point.scrumptious spices manufactures a special blend of beef marinade. the company buys one of the
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