Question
For an auditing subject I need help completing the questions for an auditing firm on Billabong International Limited. I am to find the statements and
For an auditing subject I need help completing the questions for an auditing firm on Billabong International Limited. I am to find the statements and reports from this site. Which is the correct report I should use from the site for the following questions and could you also help me with them?
http://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-irhome
Referring to the financial statements for 2016:
Calculate and comment on the listed ratios below. Your comments must also include a comparison with the industry figures.
Ratio Summary Table:
Ratio 2015 2016 Industry
-Current 2
Ratio
-Debt to 1
Equity
-Gross 60%
Profit
Margin
-Inventory 4 times
Turnover
-Trade 6 times
Receivables
turnover
Material misstatements:
Based on your ratio calculations and assessment of the clients business and adult risks, identify 5 areas or risk of material misstatement in the financial statements. Explain why these particular areas are risky.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started