Your client is a regional motel chain. It owns 27 properties in your region and manages another
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Your client is a regional motel chain. It owns 27 properties in your region and manages another 40 properties for absentee owners. All the motels are located on interstate highways and achieve at least 60% of capacity on a regular basis. In the past, many motels have been fully booked during the summer travel season; however, the economy has taken a turn for the worse and people are traveling less.
Required
Explain how your knowledge of the business and industry would impact your audit of total revenues and accounts receivable for the client.
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
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