ACC 546 Lessons in Excellence / acc546.com

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ACC 546 Lessons in Excellence -- acc546.com
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 All Assignments For more course tutorials
visit www.acc546.com   Please check All Included
Assignments Below ACC 546 Individual Assignment
Evaluating the Case Against Lehman Brothers ACC
546 Case 3.3 The Anonymous Caller ACC 546
Assignment Burlington Bees ACC 546 Week 1
Assignment Avoiding Bias Paper ACC 546 Individual
Assignment 1.1 Ocean Manufacturing, Inc ACC 546
Laramie Wire Manufacturing Assignment
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Assignment Burlington Bees For more
course tutorials visit www.acc546.com 1
Research auditing professional standards and list
the requirements related to developing an
expectation and conducting analytical procedures
when those procedures are intended to provide
substantive evidence. What are the advantages of
developing an expectation at a detailed level
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 2.2 Apple Inc. For more course
tutorials visit www.acc546.com   CASE 2.2 Apple
Inc. Evaluation of Client Business Risk After
completing and discussing this case you should be
able to 1 Describe the implications of an audit
clients business risk on the audit engagement
2 Describe the types of information relevant to
evaluate an audit clients business risk 3
Identify and evaluate the factors important in
assessing an audit clients business risk and
risk of material financial misstatement
INTRODUCTION1 a Apples
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 3.3 The Anonymous Caller For more
course tutorials visit www.acc546.com   Case 3.3
The Anonymous Caller, p. 63-65 1 Do you think
situations like this (i.e., aggressive accounting
or even financial statement fraud) are common in
practice? 2 Which financial statement assertion
related to sales transactions did management
violate when it issued the falsified financial
statements? 3 The Financial Accounting
Standards Board (FASB) and the International
Accounting Standards Board (IASB) recently
completed a joint project to develop a common
revenue standard for U.S. GAAP and IFRS
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 4.1 Enron Corporation Andersen,
LLP For more course tutorials visit www.acc546.com
  1)What were the business risks Enron faced,
and how did those risks increase the likelihood
of material misstatement in Enrons financial
statements? 2) In your own words, summarize how
Enron used SPEs to hide large amounts of company
debt (a) What are the responsibilities of a
companys board of directors? (b) Could the board
of directors at Enron-especially the audit
committee
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 5.1 Simply Steam, Co. For more
course tutorials visit www.acc546.com   Commitment
to Integrity and Ethical Values Board of
Directors Demonstrates Independence and
Appropriate Oversight Managements Philosophy and
Operating Style Management Establishes Structure
and Reporting Lines to Achieve Objectives
Financial Reporting Competencies The Organization
Holds Individuals Accountable to Their Internal
Control Responsibility Evaluation of Simply
Steam, Co. as to demonstrating a commitment to
attract, develop, and retain competent
individuals Overall evaluation of the Control
Environment
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ACC 546 Case 7.1 Anne Aylor, Inc For more course
tutorials visit www.acc546.com   ACC 546 Case 7.1
Anne Aylor, Inc. a Why are different
materiality bases considered when determining
planning materiality? b Why are different
materiality thresholds relevant for different
audit engagements? c Why is the materiality
base that results in the smallest threshold
generally used for planning purposes? D. Why is
the risk of management fraud considered when
determining performance materiality?
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ACC 546 CASE 9.1 Wallys Billboard Sign
Supply For more course tutorials
visit www.acc546.com   CASE 9.1 Wallys Billboard
Sign Supply After completing the audit program,
answer the following questions 1 Why is the
audit of cash an important part of the audit? 2
Bill performed tests of controls for all
transaction cycles with good results. Why is it
important to also perform substantive audit
procedures for the ending cash balance even when
tests of controls over transactions that affect
the cash account indicate that those controls are
operating effectively?
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 9.3 Longeta Corporation For more
course tutorials visit www.acc546.com   Case 9.3
Longeta Corporation overs auditing revenue
contracts. You want to be thoroughly prepared for
the meeting with the audit manager. Perform the
following procedures to be certain you have all
necessary information about the transactions
treatment. 1 The Financial Accounting Standards
Board (FASB) and the International Accounting
Standards Board (IASB) recently completed a joint
project to develop a common revenue standard for
U.S.
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 9.4 Bud's Big Blue Manufacturing For
more course tutorials visit www.acc546.com   Case
9.4 Bud's Big Blue Manufacturing covers accounts
receivable confirmations REQUIRED 1 List the
four factors auditors should consider when
evaluating the results of confirmation
procedures. Also, what are three of the
characteristics of a reliable confirmation? (For
this and other questions, you may wish to refer
relevant auditing standards). 2
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 9.7 RedPack Beer Company For more
course tutorials visit www.acc546.com   Case 9.7
RedPack Beer Company covers estimating allowance
for bad debt 2 Following your analysis of the
information in Schedules A-D, assume that you met
with RedPacks Credit Manager, Katie Henson, to
ask her a number of questions related to specific
customer accounts in the Accounts Receivable Aged
Trial Balance. A transcript of your interview
notes is provided as Schedule E. Use that
information to address the following
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ACC 546 Case 10.4 and 10.5 Southeast Shoe
Distributor, Inc (Score 100) For more course
tutorials visit www.acc546.com   Week 5 Team
Assignment Case 10.4 and 10.5 Southeast Shoe
Distributor, Inc. 10.4 2 Complete steps 1a-i
from the audit program E 1-1 3 Complete step 4a
from the audit program E 1-1 10.5 1 Complete
audit procedure 3a listed on audit program E 2.
2 Document your adjusting entries for any
observed misstatements that you propose on
schedule E 11. Then update the accounts payable
lead schedule on audit schedule E 10
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 11.1 The Runners Shop For more
course tutorials visit www.acc546.com   Week 6
Team Assignment, 1 Instructions Review case 11.1
The Runners Shop p.379-391. CASE 11.1 The Runners
Shop Briefly answer, required questions related
to this case 1-3 with approximately 30 to 45
words. REQUIRED 1 Describe the purposes of
audit documentation and explain why each purpose
is important.
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 12.1 EyeMax Corporation For more
course tutorials visit www.acc546.com   Case 12.1
EyeMax Corporation evaluating audit differences
Assume that you are the auditor responsible for
the EyeMax audit. It is now March 30, and all
planned fieldwork has been completed. Recall that
total financial statement materiality has been
set at 625,000. Taking into account the
information provided, please answer the following
question. 1
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 12.2 Auto Parts. Inc For more course
tutorials visit www.acc546.com   Case 12.2 Auto
Parts. Inc. materiality and evaluating
accounting policies and footnote disclosures 1
Describe whether you agree that capitalization of
the tooling supplies is the preferable method of
accounting for Auto Parts, Inc. 2 In general,
how do auditors develop an estimate of financial
statement materiality? For Auto Parts, Inc., what
is your estimate of financial statement
materiality?
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Case 12.4 Surfer Dude Duds, Inc For more
course tutorials visit www.acc546.com   ACC 546
Case 12.4 Surfer Dude Duds, Inc 1 What are
Scotts options? 2 How might a going-concern
explanatory paragraph become a self-fulfilling
prophecy for Surfer Dude? 3 Discuss the
importance of full and accurate auditor reporting
to the public, and describe possible consequences
for both parties if the going-concern explanatory
paragraph and footnote are excluded.
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Individual Assignment 1.1 Ocean
Manufacturing, Inc For more course tutorials
visit www.acc546.com   2. What nonfinancial
matters should be considered before accepting
Ocean as a client? How important are these issues
to the client acceptance decision? Why? 5. (A).
Prepare a memo to the partner making a
recommendation as to whether Barnes and Fischer
should or should not accept Ocean Manufacturing,
Inc.
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Individual Assignment Case 5.3 Red Bluff
Inn Café For more course tutorials
visit www.acc546.com   1 What are your two
biggest concerns relating to possible fraud for
the café part of the business? For each concern,
generate two or three controls that could
effectively reduce risk related to your concerns.
Use common sense and be creative! 2 What are
your two biggest concerns relating to possible
fraud for the motel part of the business? For
each concern, generate two or three controls that
could effectively reduce risk related to your
concerns
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Individual Assignment Case 5.6 Sarbox
Scooter, Inc. For more course tutorials
visit www.acc546.com   Part A 1. According to
AS5 a) What should the auditor consider when
determining whether an account should be
considered significant? b) What qualitative
factors might cause an account that is otherwise
relatively small quantitatively to be considered
significant? c) What qualitative factors might
cause an account that is greater than materiality
to be considered not significant?
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Individual Assignment Evaluating the Case
Against Lehman Brothers For more course tutorials
visit www.acc546.com   ACC 546 Individual
Assignment Evaluating the Case Against Lehman
Brothers The Case Against Lehman Brothers. Write
a 750- to 1,050-word evaluation. Analyze and then
summarize the responsibilities and failings of
the firm, the firms accountants, and government
regulators. Provide an update in the case against
the firm, its top executives, and accountants.
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Laramie Wire Manufacturing Assignment For
more course tutorials visit www.acc546.com   ACC
546 Laramie Wire Manufacturing Assignment
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ACC 546 Lessons in Excellence -- acc546.com
ACC 546 Week 1 Assignment Avoiding Bias Paper For
more course tutorials visit www.acc546.com   Avoid
ing Bias Paper - Assessment Activity - Week1 -
ACC/546 - eCampus Read the pages 1-9 section of
Professional Judgment and distinguish the four
tendencies toward professional judgment bias
1. Availability Tendency 2. Confirmation Tendency
3. Overconfidence Tendency 4. Anchoring Tendency
In a paper 750 to 1,050 words, evaluate how an
auditor can avoid these bias traps. For the
remainder of the course and subsequent
assignments, continue to consider and utilizeyour
understanding ofthese biases.
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ACC 546 Lessons in Excellence -- acc546.com