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ACCT 444 Week 3 Homework Problems

Published on January 2018 | Categories: Science | Downloads: 77 | Comments: 0
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7-27 (Objective 7-4) The following are examples of documentation typically obtained by auditors: 7-30 (Objective 7-4) Eight different types of evidence were discussed. The following questions concern the reliability of that evidence: 7-31 (Objective 7-4) As auditor of the Star Manufacturing Company, you have obtained 8-22 (Objective 8-7) Gale Gordon, CPA, has found ratio and trend analysis relatively useless as a tool in conducting audits. For several engagements, he computed the industry ratios included in publications by Standard and Poor’s and compared them with industry standards. For most engagements, the client’s business was significantly different from the industry data in the publication and the client automatically explained away any discrepancies by attributing them to the unique nature of its operations. In cases in which the client had more than one branch in different industries, Gordon found the ratio analysis no help at all. How can Gordon improve the quality of his analytical procedures? 8-33 (Objectives 8-3, 8-7, 8-8) Your comparison of the gross margin percent for Jones Drugs for the years 2008 through 2011 indicates a significant decline. This is shown by the following information: 9-33 (Objectives 9-6) Below are ten independent risk factors:

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7-27 (Objective 7-4) The following are examples of documentation typically obtained by auditors: 7-30 (Objective 7-4) Eight different types of evidence were discussed. The following questions concern the reliability of that evidence: 7-31 (Objective 7-4) As auditor of the Star Manufacturing Company, you have obtained 8-22 (Objective 8-7) Gale Gordon, CPA, has found ratio and trend analysis relatively useless as a tool in conducting audits. For several engagements, he computed the industry ratios included in publications by Standard and Poor’s and compared them with industry standards. For most engagements, the client’s business was significantly different from the industry data in the publication and the client automatically explained away any discrepancies by attributing them to the unique nature of its operations. In cases in which the client had more than one branch in different industries, Gordon found the ratio analysis no help at all. How can Gordon improve the quality of his analytical procedures? 8-33 (Objectives 8-3, 8-7, 8-8) Your comparison of the gross margin percent for Jones Drugs for the years 2008 through 2011 indicates a significant decline. This is shown by the following information: 9-33 (Objectives 9-6) Below are ten independent risk factors:

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