The first question: The following is the list of the financial position of a public shareholding industrial company for the years 2020 and 2019 and as an external auditor you were appointed by the company’s shareholders, you are required to: 

1- Classify the “financial statements” classification in the statement of financial position according to generally accepted accounting standards. An explanation of the reasons for the decline in retained earnings in the year 2020 to 164,646 JD 3- What is meant by the issue premium appearing in the statement of financial position, amounting to 27,254 JD, and what are the reasons for its appearance and how to prove its accounting entries. Its value in 2020 in Jordanian dinars is 1,392,991 5- Speak briefly about the procedures to be followed in the audit of real estate, machinery and equipment 6- Speak briefly about the procedures to be followed in the audit of receivables 7- Speak briefly about the procedures to be followed in the compulsory reserve audit 8- Speak about Objectives of auditing credit facilities 9- State the objectives of auditing the financial position