Bridgepoint Education, Inc. Accounting Assingment Help With Solution

Bridgepoint Education, Inc. Accounting Assingment Help With Solution

There are two term project options available for this course.
 
Both options have the same point value, 10 points.
Completion of one of the two options is required – you may select either of the two options for the term project requirement.
 
The other term project is optional and may be completed for extra credit.
The term project is due at 5 PM Tuesday, December 9, 2014.
 
You may work with one other student on your project – indicate both names on the face of one submission to ensure proper credit. No more than two students per submission.
 
Use the forms on the following pages to report your work for the term project(s). Use as much space as you feel appropriate to complete your answers.
As with other course work, this project is to be in your own words, not copied material. Identical comments with other students’ submissions will be considered not original work by both parties.
Part 1: Select one public company of the following:
 
Bridgepoint Education, Inc. (symbol BPI) of San Diego, 10-K/A for the year ended December 31, 2013, filed with the SEC August 4, 2014(note this is an amended filing)
 
Jack in the Box, Inc, (symbol JACK) of San Diego 10-K for the year ended
September 28, 2014 (note this filing will likely occur around November 24, 2014.
(if you are working on this assignment prior to this filing date and wish to use Jack in the Box, find the prior year 10-K filing and note that fact on your submission.)
 
WD-40., of San Diego (symbol WDFC) 10-K for the year ended August 31, 2014, filed with the SEC October 21, 2014
For the company selected, go to their web site and a web site independent of the company that provides financial information and familiarize yourself with information regarding the company including the Company’s annual filing on Form 10-K and answer the following questions:

1. What kind of opinion has the audit firm issued on the financial statements and the system of internal control? Anything appearing unusual about the reports from the independent auditors?
2. What is the company’s industry and identify one unique risk factor for that industry?
3. List one competitor for the company. How does the company compare (market share, size, etc) to this competitor?

1. Identify what you think would be a specific risk in the audit of this company and describe:
(A) The audit risk;
(B) Why you think this is a risk related to the audit; and
(C) How you might change your audit procedures to address this risk. Include references to the financial statements in your comments, and if you are making assumptions, state those assumptions.

2. Identify a significant account grouping on the balance sheet and suggest some procedures you think the audit team would use to complete their audit work on the these accounts. (Examples – cash accounts or accounts receivables or inventory)

Term Project Option # 2

Part 1.

The management of a team of auditors involves knowledge of professional standards and leadership of the individuals on the team. Stress and unexpected developments are not unusual events during an audit. The team leaders have to be prepared to react and make decisions that perhaps they have never experienced before.

Please describe what you think are appropriate actions if you were the audit team leader, and a junior member of your team came to you with the following issues(treat them as individual, unrelated items):

1. Your deadline to finish the audit is in two weeks, and on a Monday morning one of your junior auditors tells you that they overheard a comment indicating the possibility of fraudulent activity at a branch of the company in Chicago. The staff auditor is concerned that the employee was trying to be very secretive in mentioning this item to a coworker – did not know your staff person was in the next cubicle and overheard.

2. A junior member of the team tells you that one of the newer client accounting personnel seems very stressed and wants to have a “private meeting” with the staff person. Your staff person is not very comfortable with the situation – is not sure if this is a business matter or personal matter which is bothering the company employee.
 
3. One of your newest audit staff members seems very stressed, and is always asking questions about how to document something or how to ask questions of the client and lots of other minor topics. The person is beginning to annoy the other team members who are focused on their own responsibilities and the time budgeted to get those tasks completed.
 
4. You begin to think that one of your audit team members is becoming overly friendly and personal with one of the client’s staff, but you are not sure about this.
 
Part 2.
 
The PCAOB web site has a section titled “Settled Disciplinary Orders”. Locate the material related to Randall Stone CPA and his audit work as a staff auditor for ArthroCare Corporation. Describe the issues related to this audit that led to the disciplinary action. Your opinion?
 

Product Code :Acc50

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