How are the firm operational and key risk factors captured

Assignment Help Financial Accounting

Reference no: EM132508261

Question 1: How are the firm's operational and key risk factors captured in their financial statements? Income statement will reveal obvious ones, but remember to look at places that are less obvious such as the footnotes

Question 2: Income Statement Analysis

Trends, changes:

Is there potential for misstated revenues?
Is there potential for misstated expenses?
Analysis of revenue recognition, potential for returns, recalls
Analysis of expenses, % of sales, depreciation/amortization/deferral assumptions
Analysis of "non-recurring" and cut-from-pro-forma expenses

Question 3: Balance Sheet Analysis

This neglected financial statement doesn't get the press as much.

Are there any overstated assets?
Are there any understated liabilities?
Receivables (relative to sales, allowance, trends)
Inventory (relative to sales, gross margins, methods, trends)
Long term assets
Financial obligations

Question 4: Proposed Adjustments if any (show in an exhibit the calculations for the adjustments.)

Reference no: EM132508261

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