ACCT 444 DeVry Entire Course

member's schedule. Finally, each student will complete an evaluation of the work of other team members, as part of
the assessment. You were assigned to your group through a random selection process.
Use the appropriate Dropboxes to submit your portion of the group's project, along with the confidential evaluation
report. All documents are in Doc Sharing in the pull down menu course project files. Submit your assignment to the
Dropbox located on the silver tab at the top of this page. For instructions on how to use the Dropbox , read these
See the Syllabus section "Due Dates for Assignments & Exams" for due date information.
Background Material
The Case Study is presented at the end of seven chapters in your textbook: Chapters 8, 9, 10, 11, 14, 15, and 16. Your
group is to complete all seven parts.
The worksheets for the group project can be downloaded at.equella.ecollege.com/file/cc8db7ec-ef7a-42ef-92c9-
1946660522bc/1/documents--Worksheets_for_Course_Project.zip">this link .
A meeting room has been set up for your group. Please go to the team meeting area. You should use this meeting area
to discuss strategy, delegate assignments, discuss class material and its application, and to help the team solve
problems. Individual participation is required, and the meeting room helps establish evidence of each member's
participation. The meeting room is monitored by the instructor, but the instructor is not the discussion leader. Each
group will decide how the workload is to be divided between the members. You may wish to designate one member as
a lead person for the overall project, designate a lead person for each part of the project, or use any method that the
group decides on. Here is an.equella.ecollege.com/file/cc8db7ec-ef7a-42ef-92c9-1946660522bc/1/documents--
Team_Work.docx">articlethat may assist you in conducting your group project.
Part 1—Problem 8-40 (Due Week 3, 40 points)
Part 1 requires your group to calculate and analyze ratios. To assist you, our firm uses a standard worksheet for
common ratios; you can download a copy.equella.ecollege.com/file/cc8db7ec-ef7a-42ef-92c9-
1946660522bc/1/documents--analytical_workpaper.docx">here . The problem directs you to the publisher's website;
however, you may download the required files from the link above. You will also prepare a common-size income
statement, using the information from the Excel worksheet named pinnacle financials, found in the zip file that you
downloaded. You are asked to estimate potential misstatements, and your group should discuss methods for this
estimate and the accounts that are at risk.
Part 2—Problem 9-37 (Due Week 4, 40 points)
Part 2 presents information that will help your team assess the business and audit risks associated with your audit. This
evidence, together with your analysis from Part 1, will be the basis of your written risk assessment. You may wish to
use a risk matrix similar to Figure 9-6 as part of your presentation. The risk assessment should be presented as a
memo to file. The memo should identify the users of the financial statement and their reliance on the financial
statements, the likelihood of the client having financial difficulties, and the integrity of management. Next, your memo
will establish the acceptable audit risk as low, medium, or high, with a justification for your selection. The memo should
then address the inherent risk and the associated account(s) with each of the 11 situations discussed in the problem.
Part 3—Problem 10-43 (Due Week 4, 40 points)
.equella.ecollege.com/file/cc8db7ec-ef7a-42ef-92c9-1946660522bc/1/ACCT444_CH_CourseProject.html#top">Back
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This part of the project requires your team to review the internal control flowchart presented in the case to identify the
existing internal controls over the acquisition and payment cycle. You will then identify weaknesses, if any, in those
controls and assess the control risks that the weaknesses present. Your team will then complete the control risk
matrices workpaper included in the zip file downloaded from the above link. A model of this worksheet is presented on
page 309 for a sales cycle audit.
Part 4—Problem 11-34 (Due Week 5, 40 points)
In this part, you will have an opportunity to participate in brainstorming related to fraud as part of the audit planning
stage. The purpose of this part is to identify risks and to address those risks in the audit.
You will begin by using the fraud triangle and information from Parts 1 through 3 to identify incentives and pressures,
opportunities, and attitudes and rationalizations. Then you will identify risks and accounts that will be affected. You will
then look at revenue and identify at least two ways that fraud can happen and how you would find it in the audit.