Financial statements consist of balance sheets, income statements and statements of cash flow, or any supporting statement.

Financial statements include balance sheet, income statement and cash flow statement.

A．Right

B．Wrong

C．Doesn't say

此题为判断题(对，错)。

If the Balance Sheet and Statement of Owner’s Equity columns of a work sheet fail to balance when the amount of the net income is added to the Balance Sheet and Statement of Owner’s Equity Credit column, the cause could be:

A．AnexpenseamountenteredintheBalanceSheetandStatementofOwner’sEquityDebitcolumn．

B．ArevenueamountenteredintheBalanceSheetandStatementofOwner’sEquityCreditcolumn．

C．AnassetamountenteredintheIncomeStatementandStatementofOwner’sEquityDebitcolumn．

D．AliabilityamountenteredintheIncomeStatementandStatementofOwner’sEquityCreditcolumn．

E．AnexpenseamountenteredintheBalanceSheetandStatementofOwner’sEquityCreditcolumn．

The task of an auditor is to certify that the accounts and balance sheet show ______.

A．an accurate statement of income and expenditure

B．that the figures stated are accurate and correct

C．a true and fair view of the business

D．that the reserves are enough

The primary statements of a company include the balance sheet, the income statement and the statement of the flow.

A、A revenue on the balance sheet.

B、A liability on the balance sheet.

C、An unearned revenue on the income statement.

D、An asset on the balance sheet.

E、An operating activity on the statement of cash flows.

John, CPA, is auditing the financial statements of Company A for the year ended December 31, 20×8. The un-audited information of selected financial statements items is as follows:

（Expressed in RMB thousands）

FINANCLAL STATEMENTS ITEMS

20×8

20×7

Sales

64000

48000

Cost of sales

54000

42000

Net profit

30

-20

December 31, 20×8

December 31, 20×7

Inventory

16000

12000

Current assets

60000

50000

Total assets

100000

90000

Current liabilities

20000

18000

Total liabilities

30000

25000

During the audit, John has the following findings:

(1)On December 31, 20×8,Company A discounted an undue commercial acceptance bill (with recourse) amounted to RMB 6000000, and was charged discounting interest of RMB 180000 by the bank. Company A made an accounting entry on December 31, 20×8 as follows:

Dr. Cash in Bank RMB 5820000

Dr. Financial Expenses RMB 180000

Cr. Notes Receivable RMB 6000000

(2)In June 20×8, Company A provided guarantee for Company B’s borrowings from Bank C. In December 20×8, since Company B failed to repay the borrowings in time, Company A was sued by Bank C to make relevant repayment amounted to RMB 3000000. As at December 31, 20×8, the lawsuit was still pending, and, based on the reasonable estimate of the guarantee losses made by the management, Company A made an accounting entry as follows:

Dr. Non-operating Expenses RMB 3000000

Cr. Provisions RMB 3000000

On January 10, 20×9,Company A received a judgment on repaying RMB 2500000

to Bank C to settle the guarantee obligation. Company A made the payment and an accounting entry at the end of January 2009 as follows:

Dr. Provisions RMB 3000000

Cr. Cash in Bank RMB 2500000

Cr. Non-operating Income RMB 500000

Required:

(1)For Revenue and Net Profit, explain which one is more appropriate to be used to calculate planning materiality for Company A’s 20×8 financial statements as a whole. Explain the reasons of that conclusion.

(2)Based on the un-audited in formation of selected financial statements items, for the purpose of using analytical procedures as risk assessment procedures, calculate the following ratios:

(a)Inventory Turnover Rate in 20×8;

(b)Gross Profit Ratio in 20×8;

(c)After Tax Return on Total Assets in 20×8; and

(d)Current Ratio as at December 31, 20×8

(3)For each audit finding identified during the audit, list the suggested adjusting entries that John should made for Company A’s 20×8 financial statements. Tax effects, if any, are ignored.

【中文翻译】注册会计师约翰负责审计A公司20×8年12月31日的财务报表。

以下是未经审计财务报表的部分信息：

（单位：千元）

项目

20×8

20×7

营业收入

64 000

48 000

营业成本

54 000

42 000

净利润

30

-20

20×8年12月31日

20×7年12月31日

存货

16 000

12 000

流动资产

60 000

50 000

总资产

100 000

90 000

流动负债

20 000

18 000

总负债

30 000

25 000

在审计过程中，约翰发现以下事项：

（1）20×8年12月31日，A公司将未到期金额为人民币6 000 000元的商业承兑票据（附追索权）贴现，银行收取了人民币180 000元的贴现利息。A公司在20×8年12月31日做会计分录：

借：银行存款5 820 000

财务费用 180 000

贷：应收票据6 000 000

（2） 20×8年6月，A公司为B公司在C银行的贷款提供了担保。20×8年12月，由于B公司未能及时偿还贷款，A公司被银C行起诉，要求偿还贷款3 000 000元。20×8年12月31日官司尚未判决，根据管理层对担保损失的合理性估计，A公司做出以下会计分录：

借：营业外支出 3 000 000

贷：预计负债 3 000 000

20×9年1月10日，A公司收到法院判决：A公司应赔偿C银行人民币 2 500 000元。A公司支付了这笔款项，并于20×9年1月末将做出如下会计分录：

借：预计负债 3 000 000

贷：银行存款 2 500 000

营业外收入 500 000

要求：

（1）在营业收入和净利润两者之中，选择一个用于计算A公司20×8年财务报表层次的计划重要性水平，两者中哪一个更合适一些？并说明理由。

（2）根据以上未经审计的财务报表信息，运用分析程序分析重大错报风险，请计算以下比率：

（a）20×8年存货周转率

（b）20×8年销售毛利率

（c）20×8年总资产净利率

（d）20×8年12月31日的流动比率

（3）根据上述事项，注册会计师约翰应提出哪些审计调整建议，并列示调整分录。（调整分录不考虑所得税的影响）

John, CPA, is auditing the financial statements of Company A for the year ended December 31, 20×8. The un-audited information of selected financial statements items is as follows:

（Expressed in RMB thousands）

FINANCLAL STATEMENTS ITEMS

20×8

20×7

Sales

64000

48000

Cost of sales

54000

42000

Net profit

30

-20

December 31, 20×8

December 31, 20×7

Inventory

16000

12000

Current assets

60000

50000

Total assets

100000

90000

Current liabilities

20000

18000

Total liabilities

30000

25000

During the audit, John has the following findings:

(1)On December 31, 20×8,Company A discounted an undue commercial acceptance bill (with recourse) amounted to RMB 6000000, and was charged discounting interest of RMB 180000 by the bank. Company A made an accounting entry on December 31, 20×8 as follows:

Dr. Cash in Bank RMB 5820000

Dr. Financial Expenses RMB 180000

Cr. Notes Receivable RMB 6000000

(2)In June 20×8, Company A provided guarantee for Company B’s borrowings from Bank C. In December 20×8, since Company B failed to repay the borrowings in time, Company A was sued by Bank C to make relevant repayment amounted to RMB 3000000. As at December 31, 20×8, the lawsuit was still pending, and, based on the reasonable estimate of the guarantee losses made by the management, Company A made an accounting entry as follows:

Dr. Non-operating Expenses RMB 3000000

Cr. Provisions RMB 3000000

On January 10, 20×9,Company A received a judgment on repaying RMB 2500000

to Bank C to settle the guarantee obligation. Company A made the payment and an accounting entry at the end of January 2009 as follows:

Dr. Provisions RMB 3000000

Cr. Cash in Bank RMB 2500000

Cr. Non-operating Income RMB 500000

Required:

(1)For Revenue and Net Profit, explain which one is more appropriate to be used to calculate planning materiality for Company A’s 20×8 financial statements as a whole. Explain the reasons of that conclusion.

(2)Based on the un-audited in formation of selected financial statements items, for the purpose of using analytical procedures as risk assessment procedures, calculate the following ratios:

(a)Inventory Turnover Rate in 20×8;

(b)Gross Profit Ratio in 20×8;

(c)After Tax Return on Total Assets in 20×8; and

(d)Current Ratio as at December 31, 20×8

(3)For each audit finding identified during the audit, list the suggested adjusting entries that John should made for Company A’s 20×8 financial statements. Tax effects, if any, are ignored.

【中文翻译】注册会计师约翰负责审计A公司20×8年12月31日的财务报表。

以下是未经审计财务报表的部分信息：

（单位：千元）

项目

20×8

20×7

营业收入

64 000

48 000

营业成本

54 000

42 000

净利润

30

-20

20×8年12月31日

20×7年12月31日

存货

16 000

12 000

流动资产

60 000

50 000

总资产

100 000

90 000

流动负债

20 000

18 000

总负债

30 000

25 000

在审计过程中，约翰发现以下事项：

（1）20×8年12月31日，A公司将未到期金额为人民币6 000 000元的商业承兑票据（附追索权）贴现，银行收取了人民币180 000元的贴现利息。A公司在20×8年12月31日做会计分录：

借：银行存款5 820 000

财务费用 180 000

贷：应收票据6 000 000

（2） 20×8年6月，A公司为B公司在C银行的贷款提供了担保。20×8年12月，由于B公司未能及时偿还贷款，A公司被银C行起诉，要求偿还贷款3 000 000元。20×8年12月31日官司尚未判决，根据管理层对担保损失的合理性估计，A公司做出以下会计分录：

借：营业外支出 3 000 000

贷：预计负债 3 000 000

20×9年1月10日，A公司收到法院判决：A公司应赔偿C银行人民币 2 500 000元。A公司支付了这笔款项，并于20×9年1月末将做出如下会计分录：

借：预计负债 3 000 000

贷：银行存款 2 500 000

营业外收入 500 000

要求：

（1）在营业收入和净利润两者之中，选择一个用于计算A公司20×8年财务报表层次的计划重要性水平，两者中哪一个更合适一些？并说明理由。

（2）根据以上未经审计的财务报表信息，运用分析程序分析重大错报风险，请计算以下比率：

（a）20×8年存货周转率

（b）20×8年销售毛利率

（c）20×8年总资产净利率

（d）20×8年12月31日的流动比率

（3）根据上述事项，注册会计师约翰应提出哪些审计调整建议，并列示调整分录。（调整分录不考虑所得税的影响）