Audit Planning and Analytical Procedures ADJUSTED CH 8
Audit Planning and Analytical Procedures ADJUSTED CH 8
Audit Planning and Analytical Procedures ADJUSTED CH 8
Chapter 8
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Planning an Audit and Designing an Audit Approach steps 1-Accept client and perform initial audit planning.
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Performance measurement includes ratio analysis and benchmarking against key competitors.
2010 Prentice Hall Business Publishing, Auditing 13/e, Arens/Elder/Beasley 8 - 14
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Quick ratio
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Activity Ratios
Accounts receivable Net sales = turnover Average gross receivables
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Profitability Ratios
Earnings per share = Net income Average common shares outstanding
Profit margin =
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Profitability Ratios
Return on = assets Return on common = equity Income before taxes Average total assets (Income before taxes Preferred dividends) Average stockholders equity
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