Question: I need the help with this. Current Asset Account tolerable Misstatement below is what I have and the Current Assets are for 2011 332,024; for
I need the help with this. Current Asset Account tolerable Misstatement below is what I have and the Current Assets are for 2011 332,024; for 2012 379,900 percentage is 2 Dollare amount is 7,598 percentage is 7 dollar amount is 26,593: Then there is the Current Liabilities tolerable misstatement below is what I have and the Current liabilities are for 2011 181,088; 2012 194,700; percent 2; dollar amount 3,894; percent 7; dollar amount 13,629. Planning materiality level is lower litmit and upper limit.
Likelihood of Management Fraud (check one):
* Low Likelihood of Management Fraud
________ Reasonably Low Likelihood of Management Fraud
________ Moderate Likelihood of Management Fraud
Tolerable Misstatement (in thousands):
| Planning Materiality: Multiplication Factor (0.75 if low likelihood of management fraud, 0.50 if reasonably low likelihood of management fraud, and 0.25 if moderate likelihood of management fraud). | $ _4,095_______ X .75 | ||
| Tolerable Misstatement (in thousands) | $ _3,071.25____ | ||
Specific Accounts Requiring Lower Tolerable Misstatement:
| Account | Tolerable Misstatement |
| Current Asset Accounts | ________ |
| Explanation: | |
| Current Liability Accounts | ________ |
| Explanation: | |
| Explanation: | |
| Explanation: | |
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