Prepare a memo for the audit file to assess business risk of the client, audit risk factors, and accounting issues that may need addressed in the audit. You should provide GAAP guidance to support changes that you believe the client needs to make as identified in the accounting issues. * I mainly need help identifying the accounting issues. Help with the guidance would be nice, but I can live without it. ** My instructions for the case are slightly different than the questions posed in the actual copy of the case. Thanks!

Assessing Audit and Business Risks at Toy Central Corporation Earley, Christine E;Phillips, Fred Issues in Accounting Education; May 2008; 23, 2; ProQuest Business Collection pg. 299 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission