Planning part 2 | Accounting homework help

Objective:  Develop audit documentation skills, calculate materiality and apply professional judgement.


Review the following client source documents:

Access the following workpaper spreadsheet with audit program and workpapers:


  • Check the PBC Trial Balance for accuracy.
  • Trace the prior period Trial Balance to the prior period 10-K.
  • Prepare the Materiality workpaper.
  • Transfer items deemed significant to the audit to A-3 from Planning Part I
  • Signoff on A-0 Audit Planning Program


  • Review all posted materials related to the case.
  • Review the instructions, audit program, and workpaper
  • Trace (tie out) 12/31/2019 trial balance amounts to 2019 10-K. Some of the balances will need to be aggregated to tie out to financial reporting format (for example – cash).  If the balance agrees to the 2019 10-K, document A-1 with A-3 (10-K)
  • Foot (add up) the 12/31/2020 trial balance, aggregate total assets, liabilities, equity, revenue, expenses, and compute unadjusted net income. Document at the bottom of the trial balance workpaper (A-2).  Use MS Excel functions to sum accounting elements.
  • Prepare materiality workpaper (A-5).
  • Sign-off on audit procedures performed on A-0 as preparer and reviewer with your initials.

REMINDER – one submission per audit team  DUE Monday, February 14th by 11:59 p.m. in Canvas

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