Audit Tesla’s warranty account, accounting homework help

  • Based on the examination of Tesla’s financial statements and notes you will perform a risk assessment and identify a significant (qualitative and quantitative characteristics) account (e.g. Goodwill/Allowances/Valuation for DTA/etc.). For the selected account determine which assertions are relevant (completeness, existence, accuracy, valuation, obligations and rights, presentation) and provide the following:
    • Controls tested for test of design and conclusion (include sample sizes any how they were determined)
    • Controls tested for operating effectiveness and conclusion (include sample sizes any how they were determined)
    • Substantive tests performed and conclusion (include sample sizes any how they were determined)
    • Final audit opinion over controls
    • Final audit opinion over financial statements

Note1: Only one account needs to be selected but if there is another account that goes hand-in-hand you should be consistent (e.g. Goodwill + Impairment)

Note 2: If the substantive tests showed any errors (you can be creative and give them deficiencies on controls or a qualified opinion as long as you detail why).

We choose to audit Tesla’s warranty account. Here is the outline we made:

Assignment outline

    1. Business Risk Assessment
    2. Auditor’s documented understanding of the business (industry, regulatory, nature, accounting choices, tone at the top, etc.) – Tesla has exponential growth in sales and production
    3. Risk of Material Misstatement
  1. Significant Account
  2. Tests of controls: a. Tests of design; b. Tests of operating effectiveness

  3. Substantive Tests
  4. Final Auditor’s Opinion: a. Opinion on
    financial statement; b. Opinion on internal
    controls; c. Key
    recommendations for client

I am doing Section 2 (Tests of controls: a. Tests of design; b. Tests of operating effectiveness) and Key recommendations for client.

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: Content is protected !!