Financial statement Archives

Identify one company that competes with your chosen company, obtain their financial statements for the most recent two years, and prepare common-size balance sheets, income statements, and statements of cash flows for the APPLE company for the latest 2 years.

Posted on March 8, 2023 by Assessments

Discussion 6 Number 2 Using the APPLE company and annual reports: Prepare common-size balance sheets, income statements, and statements of cash flows for your chosen company for the latest 2 years. Identify one company that competes with your chosen company, obtain their financial statements for the most recent two years, and prepare common-size balance sheets, […]

Which of the following procedures would most likely be performed during an en- gagement to compile the financial statements of a nonissuer?

Posted on February 23, 2023 by Assessments

The following questions concern engagements other than the audit of financial statements performed by accountants. Choose the best response. a. Which of the following is a prospective financial statement for general use upon which an accountant may appropriately report? (1) Financial projection (2) Partial presentation (3) Pro forma financial statement (4) Financial forecast 838Part 6 […]

An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions?

Posted on February 23, 2023 by Assessments

The following questions concern reports issued by auditors, other than those on historical financial statements. Choose the best response. a. An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions? (1) Cash receipts and disbursements and the assets […]

How might the use of an external service provider to process financial statement transactions affect the audit of the entity’s financial statements?

Posted on February 22, 2023 by Assessments

With the rapid growth of cloud computing, many organizations are contracting with third-party service providers to process and store all kinds of data off site. In doing so, entities are now dependent on the effectiveness of controls provided by external software providers and data centers that are used to generate and store a huge volume […]

An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions?

Posted on February 22, 2023 by Assessments

The following questions concern reports issued by auditors, other than those on historical financial statements. Choose the best response. a. An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions? (1) Cash receipts and disbursements and the assets […]

Are current and long-term notes payable properly aggregated and presented sepa- rately on the balance sheet?

Posted on February 18, 2023 by Assessments

Items 1 through 7 are questions typically found in a standard internal control questionnaire used by auditors to obtain an understanding of internal control for notes payable. In using the questionnaire for a client, a “yes” response indicates a possible internal control, whereas a “no” indicates a potential deficiency. 1. Are liabilities for notes payable […]

Who should attend the brainstorming session, and when should the session be held?What is the role of the two staff auditors in the brainstorming session?

Posted on February 10, 2023 by Assessments

Assessing the risk of fraud in a financial statement audit is a difficult audit judgment. Auditing standards require the auditor to perform several audit procedures to accumulate information to assess the risk of fraud. You are the in-charge auditor responsible for planning the financial statement audit of Spencer, Inc. Two new staff auditors are assisting […]

Explain why the failure of financial statement users to differentiate among business failure, audit failure, and audit risk has resulted in lawsuits.

Posted on February 10, 2023 by Assessments

DISTINGUISHING BUSINESS FAILURE, AUDIT FAILURE, AND AUDIT RISK Explain why the failure of financial statement users to differentiate among business failure, audit failure, and audit risk has resulted in lawsuits.

Which of the following provides authoritative guidance for the auditor of a nonpublic company?

Posted on February 9, 2023 by Assessments

The following questions address CPA firms and entities that regulate them. Choose the best response. a. An auditor of an entity subject to the rules of the SEC must conduct the financial statement audit in accordance with (1) PCAOB standards. (2) Statements on Standards for Accounting and Review Services. (3) International Auditing Standards. (4) Generally […]

If you are interested in working with us can you give me some information about your firm? Can you meet the April 15th deadline? Can you provide a fee estimate?

Posted on November 28, 2022 by Assessments

FOLLOW THE INSTRUCTION CAREFULLY AND WRITE IT IN YOUR OWN WORD ACCOUNTING 390W ICW Part 1 – EMAILS Prepare an email response to the following emails. Assume you are a CPA working for a local public accounting firm called Allen, West and Dove, LLP. Your firm provides tax and accounting services including audit, reviews and […]

Essay Quoll

Tag: Financial statement

Identify one company that competes with your chosen company, obtain their financial statements for the most recent two years, and prepare common-size balance sheets, income statements, and statements of cash flows for the APPLE company for the latest 2 years.

Which of the following procedures would most likely be performed during an en- gagement to compile the financial statements of a nonissuer?

An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions?

How might the use of an external service provider to process financial statement transactions affect the audit of the entity’s financial statements?

An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions?

Are current and long-term notes payable properly aggregated and presented sepa- rately on the balance sheet?

Who should attend the brainstorming session, and when should the session be held?What is the role of the two staff auditors in the brainstorming session?

Explain why the failure of financial statement users to differentiate among business failure, audit failure, and audit risk has resulted in lawsuits.

Which of the following provides authoritative guidance for the auditor of a nonpublic company?

If you are interested in working with us can you give me some information about your firm? Can you meet the April 15th deadline? Can you provide a fee estimate?