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case assignment 2- audit - Oceanview Marine Company Cash ...

Oceanview Marine Company 2-2 Preliminary Analytical Procedures — Summary of Ratio Analyses December 31, 2015 Liquidity: Although the liquidity ratios do not indicate there are any serious problem areas, they do reveal some possible warning signs: The current ratio has declined by over 7% during the year. However, it is still above the 2:1 level, which is a sign of good financial condition ...…

B Identify ratios and trends if any that indicate a high ...

Oceanview Marine Company 2-4-b Preliminary Analytical Procedures: Identification of Accounts with Unexpected Fluctuations (continued) December 31, 2015 Divisional Income Statement Accounts: Identify three divisional income statement accounts that you believe are most likely to be misstated, and evaluate why the fluctuation (or lack thereof) is significant.…

Solved: Oceanview Marine Company Ratio ... - Chegg.com

Question: Oceanview Marine Company Ratio Analyses December 31, 2015 2-1 Unadjusted 12/31/2015 12/31/2014 CHANGE CHANGE AVERAGE PERCENT INDUSTRY QUIDITY RATIOS: Urrent Ratio Current Assets / Current Liabilities Uick Ratio (current Assets- Inventory)/current Liabilities Sales / Receivables Net Sales / Net Ending Receivables 2.31 2.49-0.18-7.23% 0.42 0.40 0.02 5.00% ...…

accounting-Ocean view Marine Company Control Environment ...

Nov 24, 2015 · Oceanview Marine Company Audit Program — Cash (continued) December 31, 2012 AUDIT PROCEDURES ANALYTICAL PROCEDURES 17. Compare ending cash balances with other month-end balances and prior year(s). Obtain explanations and other evidence as appropriate to account for unexpected Other procedures: STATEMENT PRESENTATION * A Co E INIT COMMENTS BC4.1/5(5)…

Oceanview Marine Company Audit Free Essays - StudyMode

Oceanview Assignment 1 - Discussion Questions. Acceptance 1. The location being in Ocean City will be favorable for all auditors conducting the audit.This will allow for ease of travel for all auditors involved. This will also lend to the knowledge the firm has of the business and all relevant operations pertaining to Oceanview Marine Company.2.…

Oceanview Marine Company Audit Solution Free Essays

Oceanview Marine Company Audit Solution. Mr. Donald Phillips, President Oceanview Marine Company 36 Clearwater Lake Road Ocean City, Florida 33140 Dear Mr. Phillips: This letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31, 2014. We will audit the company’s balance sheet for December 31, 2014, ……

Integrated Audit Practice Case Armond Dalton Publishers

The case project is relevant for use in any auditing course, regardless of the text, if the faculty member wants students to understand such topics as audit risk, inherent risk, audit planning, understanding and testing internal controls, analytical procedures, and substantive tests of account balances.…

Audit & Assurance Services Jeopardy! Jeopardy Template

, The textbook teaches us that we are required to obtain an understanding of a company's internal controls. In what workpaper did we document this for Oceanview Marine? What did we then use this for?, This section of the Sarbanes-Oxley Act calls for the financial reports to include such certifications as (1) the signing officers have reviewed the report, (2) the financials are free from ...…

Communications between Predecessor and Successor Auditors ...

Nov 11, 2008 · Question 1: 15 points AU Section 315 Communications Between Predecessor and Successor Auditors .01-.13 Using the facts from the ZZZZ Best case and professional guidance from AU Section 315, explain the following: A. As the successor auditor, what was E&W suppose to do before they accepted ZZZZ Best as an audit client in regards to Greenspan?…