Assignment 1: Understanding the Client and Performing Analytical Procedures
Due Week 2 and worth 100 points
In this assignment, you will prepare a two to three (2 to 3) page report that addresses the requirements specified in the case for Parts 1 and 2. Include your calculations as part of your analysis and fully explain the results. Also, include a minimum of two (2) current references to scholarly and/or authoritative sources.
Your report must address all of the following:
- Address the overall understanding of the retail and wholesale industries and identified areas that impact financial reporting.
- Analyze Cloud 9’s financial position and its business risks. Include ratios supporting the business analysis.
- Identify areas requiring special emphasis during the audit and potential problem areas.
- Address materiality in your response.
- Use at least two (2) current, quality academic or authoritative sources in this assignment.