Chapter 7, Problem 7.1BYP

(a)

To determine

Financial reporting: This is the formal disclosure made by the public companies, about the company’s financial performance in the form of annual report, and are prepared in conformity with the generally accepted accounting principles (GAAP).

To mention: The comments made regarding cash, by Incorporation TR, in the “Report of Independent Registered Public Accounting Firm”

(b)

To determine

To mention: The information given by Incorporation TR on cash and cash equivalents as in consolidated financial statements.

(c)

To determine

To mention: The activities responsible for the changes in cash as reported for the year 2014 as shown in consolidated statement of cash flows

(d)

To determine

To state: The definition of cash equivalents as defined in the Notes to Consolidated Financial Statements.

(e)

To determine

To summarize: The statements made in the section of Management’s Report on Internal Control Over Financial Reporting.