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Examine CAS 570, The Auditor's Consideration of an Entity's Ability to Continue as 0 Going Concern, to understand the auditor's responsibilities when testing the going

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Examine CAS 570, The Auditor's Consideration of an Entity's Ability to Continue as 0 Going Concern, to understand the auditor's responsibilities when testing the going concem assumption. Describe what is meant by \"self-fulfilling prophecy\" and how it might play a role in this scenario. Should the auditor be concerned with the self-fulfilling prophecy? Perform analytical procedures using Excel to examine the company's historical financial statements (included in the Appendix) as well as management's projections for the next three years. If necessary in your analysis, the FY 2012 statement of income and statement of cash ows have been provided in the Appendix. Further, you can assume that the company reported the following balances in its balance sheet as of February 2, 2013: Cash = $44,900 Accounts receivable = $36,140 Inventory = $45,650 Long-term debt = $100,000 Total owners' equity = $16,990

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