Siqiong Factors Favoring Acceptance
No going concern
No significant changes
The company is solvent and profitable this year. Also its business has been operated for over 50 years.
The company has no going concern in the coming future.
The company has
Sales/Receivable:The Sales/Receivables reduced by 9.73%. It is lower than the industry average.
It means that the ability of Oceanview to collect receivable is lower the industry average.
Number of days sales in A
OCEANVIEW MARINE COMPANY
December 31, 2015
Accounts receivable: net (Notes 2 and 5)
Inventories (Notes 1(a), 3, and 5)
Total Current Assets
Property, Plant, and Equipment (Notes 1(
Learning Objectives Audit Evidence
Know the eight types of procedures to gather
Understand the concept of
reliability/persuasiveness of audit evidence
Know the difference between tracing and
vouching and the related management
Learning Objectives Audit Responsibilities
Distinguish between management
responsibilities and auditor responsibilities,
including auditors responsibility for the detection
Understand the 5 PCAOB management
AC 750 Fall 2014
Mid-Term Exam Information
The exam will be closed book and closed note. You may bring in one sheet of notes double-sided.
It must be hand-written in English. You will need to turn this in with your exam.
You will be given tax rate sched