ACC491 Procter and Gamble Financial Statements Paper

Procter & Gamble
10K retrieved from :http://www.pginvestor.com/Cache/1001242072.PDF?O=PDF&T=&Y=&D=&FID=1001242072&iid=4004124
Audit Tests
In 350- to 700-words:
The five types of audit tests of financial statements:
Risk Assessment Procedures
Test of Controls
Substantive Tests of Transactions
Analytical Procedures
Tests of Details of Balances
Identify which tests are best suited for the company you selected and why.
Explain why some tests are not suitable.
Part 2
General Business Concerns
Review and discuss the Form 10-K for Procter & Gamble
10K retrieved from :http://www.pginvestor.com/Cache/1001242072.PDF?O=PDF&T=&Y=&D=&FID=1001242072&iid=4004124
Initial Risk Assessment.
Hint: The business and risk information is usually found in the first part of the Form 10-K. However, for the risks, do not simply restate what is in the Form 10-K. Think like a senior manager at a CPA firm – what accounts (Cash, A/R, Revenue, Inventory, etc.) might be the most potentially risky and why? For example, an airline might not have the same inventory considerations found with a retail outlet like Wal-Mart.
In 100 words min each bullet
Describe the business briefly.
Assess any risks you may encounter in auditing this company.
.
Has the company you’re auditing recently increased or decreased their operations due to mergers or sales of parts of the business?
Are they a conglomerate with lots of disparate kinds of goods and services, or are they a simple straight-forward type of business operating in a relatively small location?

“Place your order now for a similar assignment and have exceptional work written by our team of experts, guaranteeing you A results.”