Which would you pick as a benchmark, and why? What is the benchmark amount? a. Identify and
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Which would you pick as a benchmark, and why? What is the benchmark amount?
a. Identify and select the most appropriate financial statement benchmark for establishing overall planning materiality. Briefly justify your selection in the text box provided.
b. Select and document an appropriate materiality factor (percentage) for determining overall planning materiality. Briefly justify your selection in the text box provided in the working paper.
Account | 12/31/2014 Balance (projected) | 12/31/2013 Balance (audited) | 12/31/2012 Balance (audited) |
Sales | $ 25,354,128 | $ 22,122,039 | $ 23,346,943 |
Total Assets | $ 19,885,320 | $ 17,336,809 | $ 18,204,143 |
Gross Profit | $ 12,409,357 | $ 10,819,457 | $ 11,236,851 |
Pre-Tax Income | $ 6,423,040 | $ 5,615,674 | $ 5,881,853 |
Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
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