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Obtain the financial statements of a company with which you are familiar. The Annual report or 10K report of a publicly traded company would be a great resource for this problem. 2 4 5 . 10 . 12 Identify specific account balances for which substantive analytical procedures would be appropriate and discuss your reasoning for selecting these accounts. Describe in detail the type of substantive analytical procedures that would be used for these account balances and why this would be an effective test of the account balances. Consolidated Statements of Earnings USD ($) shares in Millions, $ in Millions 7 Salling,marketing and administrative expenses Research and development expense -process research and development (Note 5 Income Statement [Abstract] Sales to customers Cost of products sold Gross profit Interest income Interest expense, net of portion capkaliced (Note 4) Other lincome) expense.net Restructuring (Note 22) 14 Earnings before provision for tases on income 15 Provision for takes on income Nose B 16 Net earnings 17 Net earnings per share (Notes 1 and 15) Basic in dollars per share) Oluted in dollars per share Average shares outstanding (Notes 1 and 15) 19 20 21 Basic lin shares) 22 Diluted in shares 12 Months Ended Dec. 29,2019 Deo. 30, 2018 Dec 31, 2017 $02,053 27.558 51503 22,178 11.350 890 (357) 318 2.525 266 17.328 2.200 115,113 15,72 $5.63 26451 26843 $81,581 27.091 54,490 22,540 10.75 1126 1611 1.005 1405 251 17,999 2,702 15,297 $5.70 $5.61 26815 2,728.7 76.450 #1478.0010506% 25,439 $1465.001-1716 51,011 Different Change % #362.00 $13.00 -0.0243 1606% #1580.00 -5.083x 408 $236.00 20.959% (385) 934 1254.00 41570 1687.00 88.358 1421 311,120.001-79.700 309 21.520 10.594 $115001 -5.376% $67100 3.728% 18.246x 17,673 886.373 $493.00 $1300 $170.00 1.154% 2,692 2.745.3 #048 $10.02) -0.35% $0.47 $10.02) -0.357x 1:36.40 1357% $44.40 1827% O Obtain the financial statements of a company with which you are familiar. The Annual report or 10K report of a publicly traded company would be a great resource for this problem. 2 4 5 . 10 . 12 Identify specific account balances for which substantive analytical procedures would be appropriate and discuss your reasoning for selecting these accounts. Describe in detail the type of substantive analytical procedures that would be used for these account balances and why this would be an effective test of the account balances. Consolidated Statements of Earnings USD ($) shares in Millions, $ in Millions 7 Salling,marketing and administrative expenses Research and development expense -process research and development (Note 5 Income Statement [Abstract] Sales to customers Cost of products sold Gross profit Interest income Interest expense, net of portion capkaliced (Note 4) Other lincome) expense.net Restructuring (Note 22) 14 Earnings before provision for tases on income 15 Provision for takes on income Nose B 16 Net earnings 17 Net earnings per share (Notes 1 and 15) Basic in dollars per share) Oluted in dollars per share Average shares outstanding (Notes 1 and 15) 19 20 21 Basic lin shares) 22 Diluted in shares 12 Months Ended Dec. 29,2019 Deo. 30, 2018 Dec 31, 2017 $02,053 27.558 51503 22,178 11.350 890 (357) 318 2.525 266 17.328 2.200 115,113 15,72 $5.63 26451 26843 $81,581 27.091 54,490 22,540 10.75 1126 1611 1.005 1405 251 17,999 2,702 15,297 $5.70 $5.61 26815 2,728.7 76.450 #1478.0010506% 25,439 $1465.001-1716 51,011 Different Change % #362.00 $13.00 -0.0243 1606% #1580.00 -5.083x 408 $236.00 20.959% (385) 934 1254.00 41570 1687.00 88.358 1421 311,120.001-79.700 309 21.520 10.594 $115001 -5.376% $67100 3.728% 18.246x 17,673 886.373 $493.00 $1300 $170.00 1.154% 2,692 2.745.3 #048 $10.02) -0.35% $0.47 $10.02) -0.357x 1:36.40 1357% $44.40 1827% O

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Analytical Procedure To verify whether the financials of the business contain any misstatement or fraud auditors undergo some substantive test of accounts in the statements The analytical procedure in... View the full answer