Question
A. Analyze the income statement for any potential risk factors and compliance issues with Generally Accepted Accounting Principles (GAAP) or International Financial Recording Standards (IFRS).
A. Analyze the income statement for any potential risk factors and compliance issues with Generally Accepted Accounting Principles (GAAP) or International Financial Recording Standards (IFRS).
B. Analyze the risk factors and compliance issues with GAAP or IFRS on the balance sheet.
C. Using the internal control, analyze the cash and revenue for potential risk factors. 1. What risks need to be documented? 2. How does this information compare to the company or industry averages, or the company’s past performance?
D. Explain the audit universe and how you identified it.
E. Choose the most preferable audit testing procedures that could be used in the field, based on the audit universe items sampled in this situation.Step by Step Solution
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Step: 1
A The income statement reveals that Amazons net sales increased from 21032015 according to stock Stock Analysis but the net income from operations decreased from 20132014 then increased from 20142015 ...
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Step: 2
Step: 3
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
