14-34 ( Objectives 14-3‚ 14-5 ) In Part III of this case study‚ you obtained an understanding of internal control and made an initial assessment of control risk for each transaction-related audit objective for acquisition and cash disbursement transactions. The purpose of Part IV is to continue the assessment of control risk by determining the appropriate tests of controls and substantive tests of transactions. In order to do this‚ you must complete the steps needed to prepare a high-quality performance
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analysis. CLIENT NAME: | Pinnacle Manufacturing Company | DATE OF FINANCIAL STATEMENTS: | For Period/Dates Ending December 31‚ 2009‚ 2008‚ 2007 | LIQUIDITY RATIOS 2009 | 2008 | 2007 | | | | | Current Assets | 44‚497‚169 | 36‚195‚745 | 36‚005‚390 | Current Liabilities | 25‚926‚158 | 17‚605‚301 | 16‚340‚517 | 1. Current ratio = | 1.72 | 2.06 | 2.20 | Comments: Current Ratio is greater than one‚ suggests that Pinnacle can pay of their current |
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A. Review Part II and identify information that affects your assessment of acceptable audit risk. Note that only some of the situations in Part II will relate to acceptable audit risk. Classify the information based on the three factors that affect acceptable audit risk. • External users’ reliance on financial statements o There is a large amount of debt for a publically held company‚ and the financial statements will be used rather extensively. o Situation 6: the board of directors has decided to
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concern using Pinnacle’s financial statements‚ which are included in Figure 8-9. Document the ratios in a format similar to the following: Ratio 2009 2008 2007 1.Cash Ratio 0.03 0.36 0.43 2.Current Ration 0.63 0.79 0.85 3.Quick Ratio 1.72 2.06 2.20 4.Accounts receivable turnover 16.79 15.47 14.15 5.Days to collect receivables 21.74 days 23.59 days 25.80 days 6. Inventory turnover 4.35 4.01 3.68 7.Days to sell inventory
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Application of the SDLC Methodology: Riordan Manufacturing Abstract Riordan Industries is a Fortune 1000 enterprise‚ which is responsible for a successful subdivision known as Riordan Manufacturing. Riordan Manufacturing is leader in the field of plastic injection molding that specializes in the making of plastic bottles and unique plastic parts‚ fans‚ heart valves‚ and medical stents. Riordan Manufacturing can be found in various locations such as: San Jose‚ California‚ Albany‚ Georgia‚ Pontiac
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Case Study 2: Application Architecture Ravinell Rose Instructor Name: Mark Stone CIS 210 9/2/2014 Strayer University: Piscataway In designing and building a payroll program for a large organization with offices spread across the country‚ which possesses quite a few changelings to overcome and must be done in a particular manner. Thus having the right application architecture is important where the design is concerned. Because the company has one large data center that each office
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Riordan Manufacturing Part 1 BSA 375 October 7‚ 2013 Riordan Manufacturing Part 1 Riordan Manufacturing is an industry leader in its field and is committed to providing its employees and business partners with efficient and professional service. The hardware‚ software‚ and processes that make up Riordan’s Human Resource Information System (HRIS) pose a major obstacle to its continued success and aspiration of becoming a green company. In response to these challenges with its current HR
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Pinnacle Financial Partners Inc.‚ was incorporated in February of 2000. Pinnacle Financial Partners is headquartered in Nashville‚ Tennessee. It serves it purpose as a community bank mostly in the urban markets. The Chairman of the Board is Robert A. McCabe and the Chief Executive Officer is M. Terry Turner. Some of the urban markets Pinnacle caters to include these cities: Memphis‚ Knoxville‚ and Chattanooga. Operating through its subsidiary known as Pinnacle Bank‚ it is known for its debit and
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aircraft parts along with manufacturers. This is a big help when trying to expand and grow to help the company to other regions. They are a company they will strive to keep focus on what is important and to continue to create strategies as they are needed to continue to compete against rivals they have and to show how they can perform. Riordan Manufacturing is a company focused on being the leader in manufacturing polymer materials for companies like automotive and aircraft parts manufacturers
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390 |4.161 |4.0357 | c). Through comparing the current year’s account balance and ratios with those of the preceding year‚ we summerize Pinnacle business in serveral areas. The gross profit margin which measures the profitability of Pinnacle business indicates that Pinnacle is performing very stable and fairly well. In identifying areas of business risk‚ we focus on accounts receivable turnover‚ inventory turnover‚ and debts to equity. Account receivable
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