Starbucks Corporation Form 10-K, For the Fiscal Year Ended October 1, 2023Answer the following questions:What is the company's industry?What are Starbuck's primary products?What raw materials does the Starbucks company use?Where is the Starbucks company located?What other people/companies are closely associated with Starbucks company?What information is included in Item 1 and Item 1A of the Starbucks Form 10-K?How might that information be useful to the audit during audit planning?

1. What is the company's industry? Answer: Starbucks operates in the specialty eatery industry,…

Answered: Starbucks Corporation Form 10-K, For…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Master accounting
Consider the annual report of commonwealth bank or any company (most companies make their annual reports available on the company's website) and find the disclosures explaining the amounts paid to auditors. How much was the auditor paid for the audit, non-assurance, or other services?
Master accounting
What are key audit matters? How do these affect the format of the audit report? maximum 200 words)b) Stewart Jones is reviewing the results of the subsequent events audit procedures. Stewart iswriting a report for his audit partner based on these results and will be attending a meetingtomorrow with the partner and representatives of the company to discuss them. The issue will bewhether the financial report should be amended, or additional notes included for thesesubsequent events.Many of the items are not material and Stewart will recommend that no action be taken withrespect to these. However, there are several items that Stewart believes are material and shouldbe discussed at the meeting. These are as follows.(a) The board is planning to issue shares in a private placement on 15 August. (b) The share issue is to fund the purchase of a 60 per cent stake in another company. Thenegotiations are in the final stages and although the contract is not yet signed it will be signedby 15…
BackgroundYou have been assigned to the 2020 audit of Oshikango (Pty) Ltd (hereafter Oshikango). Oshikango’s period end is 30 April 2020. The company has been established in 2013, it is situated in the Northern part of Namibia and they are operating in the automotive industry, selling new and used vehicles.With the Covid-19 pandemic that has caused uncertainties to the operation of many businesses, the audit team is worried about the going concern of Oshikango Pty Ltd. The company has made losses in the current year and they are facing a difficult financial position mainly due to the current economic status of Namibia. The decrease in the sales of vehicles has been noticed in the recent years. Oshikango has recently announced that they will be retrenching 15 of their employees post lockdown.Trade receivables auditYou are currently busy testing trade receivables balance and you have selected 2 samples of debtors from the accounting records as at 30 April 2020 and request positive…
What are key audit matters? How do these affect the format of the audit report? b) Stewart Jones is reviewing the results of the subsequent events audit procedures. Stewart iswriting a report for his audit partner based on these results and will be attending a meetingtomorrow with the partner and representatives of the company to discuss them. The issue will bewhether the financial report should be amended, or additional notes included for thesesubsequent events.Many of the items are not material and Stewart will recommend that no action be taken withrespect to these. However, there are several items that Stewart believes are material and shouldbe discussed at the meeting. These are as follows.(a) The board is planning to issue shares in a private placement on 15 August. (b) The share issue is to fund the purchase of a 60 per cent stake in another company. Thenegotiations are in the final stages and although the contract is not yet signed it will be signedby 15 August. (c) A writ was…
You a partner incharge of the audit for Bargin Ltd, a private company. The completion of the audit report is pending for the income year 2018 and you have recorded some situations where possible action is required They are listed below: Bargin Ltd, carries its property, plant, and equipment accounts at current market values. Current market values exceed historical cost by a highly material amount, and the effects are pervasive throughout the financial statements. Management of Bargin Ltd, refuses to allow you to observe, or make, any counts of inventory. The recorded book value of inventory is highly material. You were unable to confirm accounts receivable with Bargin Ltd, customers. However, because of detailed sales and cash receipts records, you were able to perform reliable alternative audit procedures. One week before the end of fieldwork, you discover that the audit manager on the Bargin Ltd, engagement owns a material amount of Bargin Ltd, common stock. You relied…
BDB independent with respect to the audit of Unigate's 2021 financial statements?\\nc. Basma Mirza, a senior auditor, is aware that under SEC rules her accounting firm should not conduct appraisal or valuation services for a public company audit entity. However, her manager has requested that she appraise some specific large inventory items to verify the company's accounting estimates as part of the audit.\\nd. Heath & Associates, CPAs, is the auditor of Halifax Investments, Inc., a public company. Heath earns most of its

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