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Principles of Accounting_Unit4_DB

Principles of Accounting_Unit4_DB - Principles of...

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Principles of Accounting 1 Unit 4 Discussion Board Kregg M. Soltow September 15, 2010 American Intercontinental University Research and locate a company that was audited by an outside source and explain the method, technique, and findings of an audit. For this discussion board assignment I have chosen the company GM. In 2009 GM was again audited by the United States government, I realize that the U.S does not necessarily constitute being an outside company in it self, but it is however an outside source none the less. Although warnings of bankruptcy were not unexpected the U.S and GM stated that such an outcome was likely the future of the struggling automaker. The U.S had reported that without more government cash infusions, it would not be able to continue its operations. According to the audit, the U.S felt that GM’s “recurring losses from operations, stockholders’ deficits and inability to generate sufficient cash flow to
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