Homework 1


Read the following standards as presented at the PCAOB
Auditor Reporting
3100 Reporting on Audits of Financial Statements
AS 3101: Reports on Audited Financial Statements
AS 3110: Dating of the Independent Auditor’s Report
AS 3320: Association with Financial Statements
Forming an Opinion and Reporting on Financial Statements

Forming an Opinion and Reporting on Financial Statements: Auditing Interpretations of Section 700

Modifications to the Opinion in the Independent Auditor’s Report

Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report

Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks

Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement

The auditor determines that each of the following objectives will be part of your audit of Bozington, Co., Inc. For each audit objective, select a substantive procedure that would help to achieve that objective. Each of the procedures may be used once, more than once, or not at all.

Audit Objective

1. Establish the completeness of inventories.
2. Establish the accuracy of cost amounts of inventories.
3. Determine that the presentation and disclosure of inventories and cost of goods sold is adequate.
4. Establish that the client has rights to the recorded inventories.
5. Establish the existence of ending inventory.

Substantive procedures

a. Examine current vendors’ price lists.
b. Review drafts of the financial statements.
c. Select a sample of items during the physical inventory count and determine that they have been included on count sheets.
d. Select a sample of recorded items and examine supporting vendors’ invoices and contracts.
e. Select a sample of recorded items on count sheets during the physical inventory count and determine that items are on hand.
f. Test the reasonableness of general and administrative labor rates. 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more