I will upload the Requirements, the 2022 Annual Financial Report for the US Dertment of Commerce, the three Section of the Power Slides, and the the Excel Financial Statement Project Template you have to read them in order to answer the questions on Excel Financial Statement
Analysis Project Template they are also three sections as follow:
1- Cover Page
2- Materiality
3- Account Analysis
The answers will comes from the Annual Financial Report of the US Department of Commerce and the three Sections of the Power Slides you need to read them in order to give you directions how answer the questions on Excel Template.
Accountancy 6900
Government Auditing
Spring 2023 (CRN #66534)
Requirements for Financial Statement Analysis Project:
• Working individually, analyze the financial statements of a Federal entity’s PAR or AFR and develop an audit approach.
• The following should be included in your audit approach:
o Section 1: Understanding of the entity, i.e., operations, significant accounting policies, etc.
o Section 2: Calculate materiality and performance materiality using the guidance from FAM. Document the rationale used for determining the benchmark.
o Section 3: Select 5 key process areas that you will test. Make sure to document your rationale for selection, i.e., what quantitative and qualitative information did you review in making your determination.
• A template for completing this project has been created in Excel. Use the Excel template posted on Blackboard for this project.