You. CPA. are a controller with Old Timey Furniture Ltd. (OTF), a company thatmanufactures furniture to look like it is from the 19605 and '70s. The latest trend inhome decor is to have your home look old-fashioned, and OTF entered the marketjustat the right time. You recently met with the CFO of GTE Shania Mendez, and she is looking for your helpwith some accounting issues that were identified upon inspection of the June 30financial statements. She has made a list of the issues she was unsure about (AppendixI). For each accounting issue, she would like you to discuss the potential audit impactso that she is prepared for it. Task #1For each issue, you will need to provide Shania with the following: - an explanation of why it is an issue 0 an analysis of the issue using the relevant sections from the accounting standardsfor private enterprises (ASPE) - a recommendation that is consistent with your analysis and considers the impacton the relevant users