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Can you give examples on how to plan for an audit of the financial statements with a focus on revenue. What are the relevant business

Can you give examples on how to plan for an audit of the financial statements with a focus on revenue. What are the relevant business cycles that are related in accounting. Can you give a brief description of each business cycle. For the revenue cycle, can you include the audit objectives that are the most relevant and utilized in accordance with management assertions:

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

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