{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Peach Blossom Project

Peach Blossom Project - 7.7.3 Fixed Assets 16 6.8 Accounts...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Peach Blossom Cologne Company P-1 Time Budget December 31, 2009 Prior Current Current Var. Explanation of Year Year Year from Variance from Audit Area Actual % Budget % Actual % Budget Budget Planning 6 2.6% Interim: Understanding internal control 5 2.1% Testing control design effectiveness 3 1.3% Testing control operting effectiveness 3 1.3% Cash 2 0.9% Accounts Receivable 2 0.9% Inventory 4 1.7% Fixed assets 2 0.9% Accounts Payable 2 0.9% Accrued liabilites 2 0.9% Federal income taxes 2 0.9% Notes Payable 2 0.9% Capital Stock 1 0.4% Retained Earnings 1 0.4% Operating accounts 2 0.9% Trial balance and adjusting entries 3 1.3% Other (Explain): Total Interim 36 15.4% Year-end: Cash 16 6.8% Accounts Receivable 18
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 7.7% Inventory 24 10.3% Fixed Assets 16 6.8% Accounts Payable 22 9.4% Accrued Liabilities 8 3.4% Federal Income Taxes 8 3.4% Notes Payable 7 3.0% Capital Stock 1 0.4% Retained Earnings 2 0.9% Operating accounts 14 6.0% Commitments & Contingencies 3 1.3% Minutes & Correspondence 6 2.6% Representations Letter 1 0.4% Unrecorded Liabilities 8 3.4% Report Preparation 8 3.4% Internal Control Letter 1 0.4% In-Charge Memorandum 5 2.1% Other (Explain): Total Year-end 168 71.8% Total Planning 6 2.6% Total Interim 36 15.4% Supervision & Review 24 10.3% Total Hours 234 100.0%...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern