The book provides an “auditing in practice” illustration in Chapter 7 that focuses on Pfizer Pharmaceuticals Risk Disclosures as an Example of Inherent Risk at the Financial Statement Level.
Many risk factors are disclosed in corporate filings with the SEC. Note that the Pfizer example is drawn from the 2011 10-K filing.
Go to the EDGAR system (https://www.sec.gov/edgar/searchedgar/companysearch.html) and get the most recent 10-K filings for two U.S. companies in each of the following industries (8 companies in total):
(SIC Code 2111) Cigarettes
(SIC Code 2911) Petroleum Refining
(SIC Code 5412) Convenience Stores
(SIC Code 7011) Hotels / Motels
List the companies and years you used. Read about the risks disclosed in the 10-Ks by each company. Based on your reading, what risk factors appear to be most important in each industry?
For each of the risk factors identified above, state whether or not they are relevant to auditors and why?
Create a Crow's Foot ERD to include the following business rules for the ProdCo company: a. Each sales representative writes many invoices. b. invoice is written by one...Aug 22 2020
Suppose you deposit a large sum in an account that earns a low interest rate and simultaneously deposit a small sum in an account with a high interest rate. Which account...Aug 27 2020
Review of Accounting EthicsAssignment 1 Review of Accounting Ethics Many organizations have been in the news over the past few years due to accounting ethical breaches t...Aug 05 2020
This is the side hustle revolution the way we work a TED series Summarize and write what did you learnApr 30 2020
Did Baker get an A-Plus on his paper?Nov 26 2019
The Federal Trade Commission is charged witha. supervising cartels in the United Statesb. aiding small business in contract negotiations with foreign companiesc. investig...Dec 12 2019
This is Real Estate Finance:(1) A seller listed and sold her property for $325,000. She agreed to pay the listing broker a 7% commission. The listing broker offered a lis...May 22 2018
The market demand for economics book is Q = 18,000 – 400P, the MC = $10 and is constant, and the ATC = $22.50 at Q = 5,000, $17.50 at Q = 7,000, and $15 at Q = 9,000.a. D...Mar 26 2020
When performing a test of significance for a null hypothesis, H0 against an alternative hypothesis HA, the p-value is:(i) The probability that H0 is true given the sample...Apr 08 2020
ezto.mheducation.com/hm.tpx HEIR JORDAN CORPORATION Income Statement Sales $47,900 Costs 33,900 Taxable income $14,000 Taxes (35%) 4,900 Net income 9,100 Dividends 2,300 ...Apr 08 2020
Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.