ACC 492 WEEK 2 Team Assignment
ACC
492 WEEK 2 Team Assignment
Learning Team assignments build upon
each other from Weeks 2-5.
The first step is to go to the website
of a publically-traded US company and select the most recent 10-K Form
(legally-required document publicly-traded companies must submit to the
Securities and Exchange Commission [SEC] on an annual basis. Among other
things, this document contains the opinion of the CPA firm regarding the
company’s financial statements and adherence to Generally Accepted Accounting
Principles [GAAP]. The contents of this form will be the basis of the team
assignments in throughout the course.
Consider and discuss the specific risks and nature of the
company you will be auditing.
Create comprehensive
audit programs for the cash, financial instruments, sale, and receivables
accounts and cycles.
Submit a 1,400-
to 1,750-word document that includes:
- Audit steps for
tests of controls, balances, transactions, analytical procedures, etc. as
well as other considerations such as sample size and sample methodology.
- A brief summary
page should be included in this document, 350 to 700 words for each of the
audit programs. Include in this summary specific financial information
gleaned from the current Form 10-K used to perform an analysis of work
program steps. For example, if the team noted significant swings in the
Receivables balance year-over-year, identify these swings and how you
address them in your work program (this is in essence an audit procedure –
analytical review).
Click the
Assignment Files tab to submit your assignment in a Microsoft® Word document.
ACC
492 WEEK 2 Team Assignment
ACC
492 WEEK 2 Team Assignment
Learning Team assignments build upon
each other from Weeks 2-5.
The first step is to go to the website
of a publically-traded US company and select the most recent 10-K Form
(legally-required document publicly-traded companies must submit to the
Securities and Exchange Commission [SEC] on an annual basis. Among other things,
this document contains the opinion of the CPA firm regarding the company’s
financial statements and adherence to Generally Accepted Accounting Principles
[GAAP]. The contents of this form will be the basis of the team assignments in
throughout the course.
Consider and discuss the specific risks and nature of the
company you will be auditing.
Create comprehensive
audit programs for the cash, financial instruments, sale, and receivables
accounts and cycles.
Submit a 1,400-
to 1,750-word document that includes:
- Audit steps for
tests of controls, balances, transactions, analytical procedures, etc. as
well as other considerations such as sample size and sample methodology.
- A brief summary
page should be included in this document, 350 to 700 words for each of the
audit programs. Include in this summary specific financial information
gleaned from the current Form 10-K used to perform an analysis of work
program steps. For example, if the team noted significant swings in the
Receivables balance year-over-year, identify these swings and how you
address them in your work program (this is in essence an audit procedure –
analytical review).
Click the
Assignment Files tab to submit your assignment in a Microsoft® Word document.
ACC
492 WEEK 2 Team Assignment
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