Buringham Bees, an independent minor league basebal team, competes in the Northwest Coast League The team...
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Buringham Bees, an independent minor league basebal team, competes in the Northwest Coast League The team finished in second place in 2018 witha record of 94-50 The Bees' 2018 cumulatve season attendance af 534,784 spectators seta new record high for the team, up more than 5% from the prior season attendance Bank toan covenants require the Bees to submit audited fnancial statements annually to the bank The accounting frm of Hickman and Snowden, CPAS, has served as fhe Bees' auditor for the past fwe years One of he major audit areas involves testng ticketrevenues Ticketrevenues reached nearly $5 08 million in 2017 In 2018 the unaudited scket reverues are reported to be 85,515897 with netincome before tax of 8937,703 In prior years, the auditplan called for extenave detai testng af revenue accounts to gain assurance hatreported icket revenues were fairty stated. Michelle Andrews, a new audit manager, justreceved he assignment to be the manager on the 2018 audit Michele worked previously on he Bees' prior-year udits as a staff audi tor When she leamed she would be managing the curent-year engagement she immediately thoughtheck to all te hours of de taled wstng of tcket sales she performed On some of her other cients, Michete has been successful at redesigning audit plans to make better use of analyncal procedures as substanive tests She is beginning to wonder if there s a more efficient way to gather effect- ive substantve evidence related to scketrevenues on the Bees' engagement hher festmeeting wih Bees' manegement for te 2018 audt Michelle leamed that he Bees now use an outside company. Tickets RUs oper- ate ticketgates for home games The terms of the convactrequire Tickets R Us to colect icketstubs s0 thatitcan later report lotal sckets collec- ted per game Whie Tickets R Us does not break down the total tcketsales into the various price categories, Michelle tinks there may be a way to develop an analytcal procedure using te independenty generated total icket numbers and data from prior audits To imvestgate this possihie Michelle asked a staff person to gater some information related to reported sales Here is the informaton the staff person gatvered from the cords of the client Tickets RUs, and prior-year auditfies 2018 Park Attendance (all games) Total park attendance 534,784 2018 Number of Games Weekday games Weekend games 44 28 hformaton tram pnor-year audit fies indicates a simlar rumber of home games in total, although in the prior year here were 26 weekend games The audit fie indicates hat average pergame attendance for weekend games was 20% higher than average per game attendance for weekday games. 2018 Per-Game Ticket Prices Club seats Box seats General seats: Adult $ 14 $ 12 $ 8 $ 6 Child (Senior Citizens) Companson of 2017 tcket pnces to 2018 ticket prices reveals an average increase of 9% beween the thwo years Sales Mix Weekday 25% Weekend 26% 29% Club seats Box seats General seats: Adult Child (Senior Citizens) 30% 23% 22% 24% 21% hformaton fram pnor year audit fies shows that saies mx has remained fairly simiar over the last several years 2018 Promotions: Number of Games Weekday Weekend Informaton trom pnor year mudit fies shown that attendance generaly ncreases by 15% when there is a promoton (e g, free basebal cap, poster or special en ter tainment) in he prior yeie tere were only 15 totsl promotonal days р. 248 p. Buringham Bees, an independent minor league basebal team, competes in the Northwest Coast League The team finished in second place in 2018 witha record of 94-50 The Bees' 2018 cumulatve season attendance af 534,784 spectators seta new record high for the team, up more than 5% from the prior season attendance Bank toan covenants require the Bees to submit audited fnancial statements annually to the bank The accounting frm of Hickman and Snowden, CPAS, has served as fhe Bees' auditor for the past fwe years One of he major audit areas involves testng ticketrevenues Ticketrevenues reached nearly $5 08 million in 2017 In 2018 the unaudited scket reverues are reported to be 85,515897 with netincome before tax of 8937,703 In prior years, the auditplan called for extenave detai testng af revenue accounts to gain assurance hatreported icket revenues were fairty stated. Michelle Andrews, a new audit manager, justreceved he assignment to be the manager on the 2018 audit Michele worked previously on he Bees' prior-year udits as a staff audi tor When she leamed she would be managing the curent-year engagement she immediately thoughtheck to all te hours of de taled wstng of tcket sales she performed On some of her other cients, Michete has been successful at redesigning audit plans to make better use of analyncal procedures as substanive tests She is beginning to wonder if there s a more efficient way to gather effect- ive substantve evidence related to scketrevenues on the Bees' engagement hher festmeeting wih Bees' manegement for te 2018 audt Michelle leamed that he Bees now use an outside company. Tickets RUs oper- ate ticketgates for home games The terms of the convactrequire Tickets R Us to colect icketstubs s0 thatitcan later report lotal sckets collec- ted per game Whie Tickets R Us does not break down the total tcketsales into the various price categories, Michelle tinks there may be a way to develop an analytcal procedure using te independenty generated total icket numbers and data from prior audits To imvestgate this possihie Michelle asked a staff person to gater some information related to reported sales Here is the informaton the staff person gatvered from the cords of the client Tickets RUs, and prior-year auditfies 2018 Park Attendance (all games) Total park attendance 534,784 2018 Number of Games Weekday games Weekend games 44 28 hformaton tram pnor-year audit fies indicates a simlar rumber of home games in total, although in the prior year here were 26 weekend games The audit fie indicates hat average pergame attendance for weekend games was 20% higher than average per game attendance for weekday games. 2018 Per-Game Ticket Prices Club seats Box seats General seats: Adult $ 14 $ 12 $ 8 $ 6 Child (Senior Citizens) Companson of 2017 tcket pnces to 2018 ticket prices reveals an average increase of 9% beween the thwo years Sales Mix Weekday 25% Weekend 26% 29% Club seats Box seats General seats: Adult Child (Senior Citizens) 30% 23% 22% 24% 21% hformaton fram pnor year audit fies shows that saies mx has remained fairly simiar over the last several years 2018 Promotions: Number of Games Weekday Weekend Informaton trom pnor year mudit fies shown that attendance generaly ncreases by 15% when there is a promoton (e g, free basebal cap, poster or special en ter tainment) in he prior yeie tere were only 15 totsl promotonal days р. 248 p.
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