{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

BurlingtonBees2006 - Burlington Bees1 Using Analytical...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Burlington Bees 1 Using Analytical Procedures as Substantive Tests OBJECTIVES 1. Use analytical procedures to develop expectations for revenue accounts 2. Recognize factors that lead to precise expectations of account balances 3. Appreciate the degree of professional judgment involved in evaluating differences between expected and reported account balances 4. Understand the audit planning implications of using analytical procedures as substantive tests of account balances Burlington Bees, an independent, minor league baseball team, competes in the North-west Coast League. The team finished in second place in 200X with an 87—57 record. The Bees' 200X cumulative season attendance of 434,348 spectators set a new record high for the team, up from 390,000 in 200W. Bank-loan covenants require the Bees to submit audited financial statements annually to the bank. The accounting firm of Hickman and Snowden, CPAs, has served as the Bees' auditors for the past five years. One of the major audit areas involves testing ticket revenues. Those revenues reached nearly $1.9 million in 200W. In prior years, the audit plan called for extensive detail testing of revenue accounts to gain assurance that reported ticket revenues were fairly stated.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the 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