\ Pinnacle Foods Inc.: Initial Public Offering MACKK Consulting Group BSAD 444.20 April 1st‚ 2013 Company History Pinnacle Foods Group is a food packaging company specializing in shelf stable and frozen food categories. The company was formed in 1998 as Vlasic Foods International‚ acquiring several food-manufacturing brands such as Swanson TV dinners and Open Pit from the Campbell Soup Company. Pinnacle’s portfolio of iconic brands dates back in existence to the 1800s. The earliest brand
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STATEMENT/RECOGNITION OF DECISION REQUIREMENT/PROBLEM Facts of the Case Pinnacle is a small‚ publicly held Indiana-based machine tool company which is currently losing market shares due to aggressive pricing which have an impact on its profit margin. Don Anglos‚ Pinnacle’s CEO‚ heard a credible rumor that a chief competitor of Pinnacle is planning a hostile takeover of Hoilman‚ Inc. Don Anglos has to decide whether Pinnacle should attempt to acquire Hoilman‚ Inc.‚ a company known for its cutting-edge
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Andrew Jacot Aviation Safety January 30‚ 2013 Pinnacle Airline Flight 3701 October 14‚ 2004 in Jefferson City‚ Missouri two pilots made a decision that would be fatal. The Captain was Jesse Rhodes and the First Officer was Peter Cesarz and were flying for Pinnacle Airlines. The plane they were flying was a Bombardier CRJ200‚ which is a twin-engine‚ 50 seat regional jet. The pilots had nobody on board so when they took off they immediately had their minds set on reaching 41‚000 feet to become
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owed to them are coming in more quickly. Lastly‚ in order for a company to succeed they need to have a good turnover rate for the inventory which is just what Pinnacle company has. The inventory turnover ratio is low indicating that it is taking fewer days than before to sell inventory. C and D) are on the Excel Spreadsheet labeled Pinnacle Case Study Common-Size Income Statement
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The auditor can use this form to document the performance and evaluation of ratio analysis in connection with analytical procedures performed in an audit. The form is only a guide and is not a substitute for professional judgment. The form may be modified by adding or omitting certain ratio analysis. CLIENT NAME: | Pinnacle Manufacturing Company | DATE OF FINANCIAL STATEMENTS: | For Period/Dates Ending December 31‚ 2009‚ 2008‚ 2007 | LIQUIDITY RATIOS 2009 | 2008 | 2007
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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Q1 - What is the relationship between the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation‚ conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external
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1-4 Audit Engagement Letters ............................................................................. 5-9 Recurring Audits ............................................................................................ 10-11 Acceptance of a Change in Engagement ........................................................ 12-19 Appendix 1: Example of an Audit Engagement Letter Appendix 2: ISA 210 Amended as a Result of ISA 700 International Standard on Auditing (ISA) 210‚ “Terms of Audit Engagements”
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tests of controls. C. Document the assessment. D. Document the internal control system more extensively. 9. Which of the following is least likely to be a test of a control? A. Inquiries of appropriate personnel. B. Inspection of management’s engagement letter. C. Observation of the application of a policy. D. Reperformance of the application of a policy. 10. Which of the following controls may prevent the failure to bill customers for some shipments? A. Each shipment should be supported by
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Apollo Engagement Letter University of Phoenix Anderson‚ Old‚ and Watershed‚ CPA’s‚ LLC Shoetown‚ ME 00001 October 26‚ 2007 Mr. Larry Lancaster President and Chairman Apollo Shoes‚ Inc. Dear Mr. Lancaster: This letter is to confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide. We will audit the consolidated balance sheet of Apollo shoes as of December 31‚ 2008‚ and the related consolidated statements
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