Accounting Financial Statements

write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

For this assignment, you will plan for an audit of the financial statements with a focus on revenue. First, identify the relevant business cycles that are related in accounting. Include a brief description of each business cycle. For the revenue cycle, include following the audit objectives that you feel are the most relevant and that you will use in accordance with management assertions:

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  • Existence
  • Completeness
  • Accuracy or valuation
  • Rights and obligations
  • Presentation and disclosure

Part 2 ( 2 part together ) due tomorrow night
900-1000 Words

Using the case study Jim’s Auto Body, prepare an audit program to audit revenue. You will use all of the relevant management assertions as the audit objectives, and you should include the following:

  • Management assertions to be addressed (audit objectives)
  • Internal control
  • Test of controls
  • Substantive test of transactions

Part 1

After the audit program has been drafted, identify the type of report that will be produced as a result of the audit of revenue, and develop the audit report.

Part 2

The American Institute of Certified Public Accountants (AICPA) professional standards provide uniform wording and format for the audit report. The audit report should focus on the revenue cycle and Jim’s Auto Body. Write a 1-page audit report for Jim’s Auto Body that includes all seven parts of a standard audit report, as follows:

  • Report title
  • Audit report address
  • Introductory paragraphs
  • Scope paragraph
  • Opinion paragraph
  • Name of the Certified Public Accountant (CPA) firm
  • Audit report date

Part 3

Using the Units 1-4 assignments and feedback, complete the Management Discussion and Analysis (MD&A) for the company. Along with the MD&A, include an Excel Portfolio of the Units 1-5 assignments.

The MD&A should have the following:

  • Provide a summary of the current year’s activities.
  • Discuss the company’s ability to meet short-term obligations and fund operations and capital projects, and give the results of operations.
  • Provide a financial ratio analysis that includes liquidity, profitability, and solvency.
  • Discuss the federal tax obligations for the firm if it is structured as an LLC and as a C Corporation.
  • Discuss current internal controls as related to the prior assignment.
  • Provide a recommendation for next year’s operations.

The project deliverables are as follows:

  • Update the research document’s title page with a new date.
  • Update previously-completed sections based on your instructor’s feedback.
    • Ensure that this final version of the document is sufficiently detailed to fully meet the assignment requirements for each part of the course.
  • New content for Week 5 is as follows:
    • Complete the Management Discussion and Analysis for the company.
  • Be sure to update your table of contents before submission.

I have the information for this and I will send when the other parts are done, the other parts need to be done by tomorrow night if possible well my time tomorrow night so before 9pm Mountain time.

There is a part 4 but it is a mini exam, is that capable of doing with logging in to the information i provide for it?

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