PART 1
INSTRUCTIONS
Format
- ion in preparation for the final submission of your Capstone portfolio (Acct460 week 1P Template revised). Unit 2, You demonstrated knowledge of calculating the vertical and horizontal analysis. However, your written analysis of profitability and improvement did not include the vertical analysis (perform the vertical and horizontal vertical analysis of the balance sheet and the income statement for Jim). Unit 3: You have demonstrated some knowledge in completing tax forms for a corporation, a partnership, and the applicable schedules. However, you didn't use the correct information from the assignment instructions to complete all required documents and schedules. Also, I did not complete the Statement 1 Other Deduction form for the 112 and 1065.
PART 2.
Description
Using the case study Jim’s Auto Body, prepare an audit program to audit revenue. You will use all of the relevant management assertions as the audit objectives, and you should include the following:
- Management assertions to be addressed (audit objectives)
- Internal control
- Test of controls
- Substantive test of transactions
Part 1
After the audit program has been drafted, identify the type of report that will be produced as a result of the audit of revenue, and develop the audit report.
Part 2
The American Institute of Certified Public Accountants (AICPA) professional standards provide uniform wording and format for the audit report. The audit report should focus on the revenue cycle and Jim’s Auto Body. Write a 1-page audit report for Jim’s Auto Body that includes all seven parts of a standard audit report, as follows:
- Report title
- Audit report address
- Introductory paragraphs
- Scope paragraph
- Opinion paragraph
- Name of the Certified Public Accountant (CPA) firm
- Audit report date
Please submit your assignment. It all must be in a PDF format