100% Original, Plagiarism Free, Tailored to your instructions

Order Now!

ASSIGNMENT – Using Excel as Audit Software

ASSIGNMENT – Using Excel as Audit Software
You work for the audit firm of Check and Recheck CAs. One of your newest clients is Griffith Thermometers Limited.  The company is only 3 years old. You are planning the audit for the year ending 30 June 2015. The client’s Finance Director provides you with the preliminary (draft) balance sheet and income statement information which includes the comparative figures for 2014, which your firm audited last year. (The Excel file “Ass3102152Qs.xlsx” has the data.)
(A)  You decide to perform some preliminary analytical review on the information provided by the Finance Director, in order to help with the planning of this year’s audit.
(1)    Prepare a common-size (vertical) analysis of both the Balance Sheet and Income Statement for both years. Use “Total Assets” as your base figure for the Balance Sheet and “Sales” as your base figure for the income statement.
(2)    Prepare a trend (horizontal) analysis for 2015, comparing all figures to the prior year and noting the % change in each.
(3)    For both years, calculate:
2 liquidity ratios (current ratio and quick ratio);
4 activity ratios (accounts receivable turnover, days to collect, inventory turnover, days to sell);
2 long term solvency ratios (debt/equity, tangible net assets/equity); and
2 profitability ratios (net profit and return on total assets).
Use Excel to answer all three parts.  Produce working sheets (these will show the formulae you used) to calculate the ratios. (12 marks).
(B)    Write a brief (1 page only) memo to your audit senior, cross reference your comments to the appropriate spreadsheets. (2 marks).
The memo should list four areas of possible concern (overall issues and/or specific account balances) based on your findings in part (A) above. (6 marks).

Our Service Charter

  1. Excellent Quality / 100% Plagiarism-Free

    We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers.
  2. Free Revisions

    We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed.
  3. Confidentiality / 100% No Disclosure

    We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service.
  4. Money Back Guarantee

    If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit.
  5. 24/7 Customer Support

    We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.

Excellent Quality
Zero Plagiarism
Expert Writers

Custom Writing Service

Instant Quote
Single spaced
approx 275 words per page
Urgency (Less urgent, less costly):
Total Cost: NaN

Get 10% Off on your 1st order!