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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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