Explain the wide purpose of analytical procedures.

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Answer 1

Question

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

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At the beginning of the year, Dow inventory of $200,000. During th purchased goods costing $800,000 reported ending inventory of $ $1,050,000, their cost of goods sol must be............... The Stacy Company makes and sells R. Budgeted sales for April are $3 budgeted at 30% of sales dollars. If is budgeted at $40,000, the administrative expenses are: -$133,333 - $60,000 - $102,000 - $78,000. CALIN CORPORATION HAS TOTAL CURRENT ASSETS OF $61 $230,000, TOTAL STOCKHOLDERS EQUITY OF $1,183,000, TO $958,000, TOTAL ASSETS OF $1,573,000, AND TOTAL LIABILI THE COMPANY'S WORKING CAPITAL IS

Answer 2

Question

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

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Answer 3

Question

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

Answer 6

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

Answer 7

Chapter 7, Problem 32DQP

a.

To determine

Explain the wide purpose of analytical procedures.

Answer 8

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

Answer 9

b.

To determine

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

Answer 10

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

Answer 11

c.

To determine

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 7 - Prob. 1RQ Ch. 7 - Prob. 2RQ Ch. 7 - Prob. 3RQ Ch. 7 - Prob. 4RQ Ch. 7 - Prob. 5RQ Ch. 7 - Prob. 6RQ Ch. 7 - Prob. 7RQ Ch. 7 - Prob. 8RQ Ch. 7 - Prob. 9RQ Ch. 7 - Prob. 10RQ

Explain the wide purpose of analytical procedures.

Solution Summary: The author explains the wide purpose of analytical procedures, including understanding the client's business and industry, identifying possible misstatements in financial statements, and reducing the detailed audit tests.

Explain the wide purpose of analytical procedures.

Identify the phase in which the analytical procedures are required during an audit, explain the reason for using the analytical procedures in most parts of the audit.

Identify the factors which help the auditor to reduce the detailed tests in meeting audit objectives while using the results of analytical procedures.

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Chapter 7 Solutions