Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Accounting

15/10/2020 Client: trav2012 Deadline: 3 days

EZ Furniture Wholesalers, Inc.


You are a staff auditor with BLB CPAs.  BLB CPAs has been retained to perform the audit of the fiscal year 2019 by EZ Furniture Wholesalers, Inc. EZ Furniture Wholesalers, Inc. has been a client of BLB CPAs for several years. You are auditing the allowance for doubtful accounts and have concerns about some contradictory evidence.


Background Information


EZ Furniture Wholesalers, Inc. reserves for its allowance for doubtful accounts based on standard reserve percentages supported by historical collection experience. Management uses the same process for estimating the allowance for doubtful accounts (the “reserve”), as it did in the prior year. As part of its risk assessment procedures, the engagement team identified the following risk of material misstatement related to the valuation assertion: 


• The entity may not appropriately update its reserve policy (including updates to reserve percentages) for changes in circumstances.


Note that the engagement team may have identified additional risks of material misstatement related to the valuation assertion identified as part of its risk assessment procedures; however, you must focus on this specific risk of material misstatement. 


In addition, this risk was not identified as a fraud risk. Youobtained the following evidence from the audit procedures performed to address this risk:


• The current-year reserve as a percentage of gross receivables is consistent with prior years, although there was an increase in revenues, gross receivables, and the related reserve. • Bad debt expense has remained consistent as a percentage of gross revenue over the past several years.• Retrospective review of receivable collections indicates that management’s reserves have historically been accurate.• Economic conditions have been fairly stable and are predicted to remain stable. • Revenues increased substantially year over year as a result of the introduction of a new product line. • The new product line is marketed toward customers in the restaurant industry, in which the entity does not currently have an established customer base.• The restaurant industry generally has a higher rate of business failure than other customer segments.• The entity’s collections experience has primarily been with customers in the retail and professional services industries; the entity has very little collections experience with the new product line, given the recent launch.• Approved sales terms have not changed year to year (e.g., sales personnel may offer an extension of credit of up to 100 percent of the purchase price consistent with prior year, creditworthiness is determined in the same manner, payment terms are consistent with prior year).• Sales of the new product line are more frequently 100 percent financed versus sales of the existing product lines, resulting in an increase in gross receivables.• Competitors who manufacture similar restaurant furniture products have higher reserves as a percentage of their trade receivables.


Required:


Your manager has asked you to prepare a document (Titled EZ Furniture Wholesalers Summary of Contradictory Evidence) answering the following questions.  The format of the document should first state the question; second, provide the relevant PCAOB AS Standard(s), and AICPA AU Standard(s) (you may cut and past the applicable sections of the standard); and third, your interpretation of how the standards applies to the case.  Each question should follow this format.  Save the document as YourLastNameEZ.


1. Identify and summarize the corroborative and contradictory audit evidence. 2. Determine what additional information, if any, is needed to reach a conclusion regarding management’s assertion.3. On the basis of the case facts, determine whether management’s assertion is supportable and how additional information obtained might change your conclusion.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Instant Assignments
Financial Hub
Ideas & Innovations
Custom Coursework Service
Finance Homework Help
Writer Writer Name Offer Chat
Instant Assignments

ONLINE

Instant Assignments

Good day dear client, I am a full-time freelance writer with years of experience. My strongest strengths are strong dedication to duty, reliability, quality and excellence. I am going to do an outstanding job for you, kindly PM me and let us commence. Thank you so much in anticipation of your positive response. Thank you very much.

$35 Chat With Writer
Financial Hub

ONLINE

Financial Hub

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

$35 Chat With Writer
Ideas & Innovations

ONLINE

Ideas & Innovations

Hi, Hope you are doing well. I can do this easily because I have several experiences to write articles on different web sites, creative content for several blogs & also SEO writing. Even I have written many kindle ebooks, Being a creative writer, I think I am the most eligible person for your Ghostwriting project. So lets make no longer delay & start chatting immediately.

$40 Chat With Writer
Custom Coursework Service

ONLINE

Custom Coursework Service

Hey, Hope you are doing great :) I have read your project description. I am a high qualified writer. I will surely assist you in writing paper in which i will be explaining and analyzing the formulation and implementation of the strategy of Nestle. I will cover all the points which you have mentioned in your project details. I have a clear idea of what you are looking for. The work will be done according to your expectations. I will provide you Turnitin report as well to check the similarity. I am familiar with APA, MLA, Harvard, Chicago and Turabian referencing styles. I have more than 5 years’ experience in technical and academic writing. Please message me to discuss further details. I will be glad to assist you out.

$35 Chat With Writer
Finance Homework Help

ONLINE

Finance Homework Help

I have a Master’s degree and experience of more than 5 years in this industry, I have worked on several similar projects of Research writing, Academic writing & Business writing and can deliver A+ quality writing even to Short Deadlines. I have successfully completed more than 2100+ projects on different websites for respective clients. I can generally write 10-15 pages daily. I am interested to hear more about the project and about the subject matter of the writing. I will deliver Premium quality work without Plagiarism at less price and time. Get quality work by awarding this project to me, I look forward to getting started for you as soon as possible. Thanks!

$35 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Social issues in pygmalion - I need 8500 words article in mirai virus and IOT and solutions - Directions to rice university - Least common denominator of 1 2 and 3 4 - Reading and Answering 2 - Basic stamp 2 programming - WOMEN’S CLINIC +27717852514 % ABORTION PILLS FOR SALE IN, PRETORIA, SHOSHANGUVE, ATTERIDGEVILLE, PRETORIA WEST, LAUDIUM, WITBANK - Ecological footprint overshooting ecological resources answers - Bertolt brecht techniques list - A bank has three types of accounts - Thesis statement for mexican culture - According to the rokeach value survey, ________ values refer to desirable end-states. - First cirque du soleil show 1984 - DQ - Who is rj proz - Beyond bumper sticker ethics cliff notes - Rwi sound mat set 1 - Erp ppt for colleges - Where does orographic rainfall occur in australia - Analysis - Abortion should be legal thesis statement - Walt disney company 2012 annual report - Pharmacology - Australian unity extras benefits - N492 Assignment Mod 2b: - Relax - Plate heat exchanger data sheet - Perpetual pure equity alpha - Relying on outsiders to perform certain value chain activities offers such strategic advantages as: - Practice test questions classical and operant conditioning - The talos principle wiki - Mind tools customer service - Discussion responses - Principles of distributed database systems 2nd edition pdf - The annual planning process at century office systems - Strategic management by frank t rothaermel pdf - Public Administration - Just global community in terms of the common good - Example of a conflict situation in nursing - Standards and Accountability - Nuts and bolts of chemistry lab - Discussion Post Help - Group therapy - Capstone Research Companion - How to calculate meals per labor hour - Alwaysrain irrigation inc would like to determine - 250words use 2 sources - Finance assignment,1250 words 18 hrs - Sonicwall received notify no_proposal_chosen - Paul keating strata community insurance - A manufacturer makes two products doors and windows - Sitting on the beach - What does under god mean in the pledge - Driven to destruction cheats - Occupational ergonomics a practical approach pdf - Drama passive aggressive behavior - Business - Degree of freedom of saturated nacl solution - Contact woolworths home insurance - Discussion - Class 2 lever examples - Best eBook Writers - Conflict management in nursing practice - Www jewfaq org kashrut htm - Reading Reflections are generally a half-page (single-spaced) analysis of the readings. - Cnc milling machine wiki - Is the occupational outlook handbook a credible source - Essay CRJ - This assignment requires the use of Microsoft Excel. If you have Windows, you will need to use the Data Analysis Tool Pack. If you have a Mac with Excel 2011, - 3 wire zone valve wiring diagram - Bohemian rhapsody hidden meaning - Rhett’s disorder - Psychology - Electronics and communications engineering skill assessment - Essay about "Looking For Work" by Gary Soto - Zeek the geek part 2 - Socialization and assimilation when a person starts college - What is ima science - To george sand a desire sparknotes - Is the smallest composite number - Prefix and suffix meaning - Greatest common factor of 36 and 54 - Last rodeo presley phillips lyrics - Byrne v van tienhoven case summary - Paul von lettow vorbeck hitler - Family reunion event proposal - 10 rainforest road edmonton - Penn state university scandal organizational behavior - New perspectives on html and css tutorial 4 case problem 1 - How many ridge characteristics are in a fingerprint - Belle and sebastian cartoon dog breed - Dill to kill a mockingbird character traits - American bureau of shipping abs singapore - Milestone 1 - Thomas jefferson on the dangers of reading fiction - Uq apply for supplementary exam - A _____ represents a phrase or sentence that succinctly expresses a key corporate value. - Ward 6 victoria hospital kirkcaldy - Conversational techniques in english - First fieldwork the misadventures of an anthropologist