Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

! Required information Exercises G.33-G.38 require the use of Excel, Tableau, or other software in the revenue cycle audit. This case is loosely based

image text in transcribedimage text in transcribed

! Required information Exercises G.33-G.38 require the use of Excel, Tableau, or other software in the revenue cycle audit. This case is loosely based on Florida State University (FSU) Football ticket revenues. Many of the facts and all of the transaction-level data are fictitious, however. You have access to five Excel databases obtained from your client for use in auditing Football Ticket Revenue for the 2018 football season. Detailed information about the client and data dictionaries, along with the required datasets, can be found below. Required Data Files: a. Data Dictionary - Semiole Spirit Detailed Information b. Unsold tickets by game c. Season ticket sales revenue d. Champion's club ticket revenue e. Single game ticket sales by game f. Issued tickets by game Required: For the purposes of performing the following procedure, you may assume that you have tested the underlying transaction-level data produced by the entity (IPE) and it is sufficiently reliable. The client provided you with certain calculations based on the underlying transaction level data. Are the following calculations provided by the client sufficiently accurate for the purposes of the analytical procedure based on the underlying transaction level data? Transaction Level Data a. Season ticket sales b. Champions Club seats sold C. Average number of complimentary tickets provided d. Average season ticket price Client Calculations Your Calculation Reasonable? Yes or No 28,630 28,630 Yes 3,404 3,404 Yes 1,400 330 $ 1,476 No 337 Yes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

8th edition

1111534918, 978-1111534912

More Books

Students also viewed these Accounting questions

Question

Disordered eating in dance professionals

Answered: 1 week ago

Question

Describe market-based strategies

Answered: 1 week ago