1 and 2) Political: The tax rates on the products would effect the costs for the company and be reflected in the income statement.
Economic: The demand of an inferior meet like chicken to beef could potential improve revenue. Chickens would be easy to care for and keep costs a little lower compared to cattle.
Social: Animal rights groups can change public opinion of the company and potential take away revenue if the animals aren’t treated all.
Technological: Any genetic modifications could potential reduce the cost of sales.
If you could make a bigger chicken or one that matures faster, it would allow the company to make more money and spend less.
Legal: Should any food borne illness arises the company would be liable. This would lead to costly lawsuits effecting the balance sheet.
Environmental: The disposal of remains and wastes a cost the company has to consider. Also where it is deposed might be far away from where the animals are held depending on the health guidelines.
This would lead to higher costs reflected on the income statement.
3) a) The auditor’s objective is to check for a going concern issue within the companies financials
b) There are two levels of assurance absolute which is rarely given and reasonable. An auditor usually gives reasonable assurance because checking every single detail in the company’s records would take a great deal of time.
c) Some business risks the auditor should consider are the company’s competitive position within their files. Also what internal controls already in place to catch mistakes and the company’s overall organizational structure.
‘
d) The level of materiality for example a couple of missing pencils would not be considered a risk for misstatement in the financials. Depending on the size of the company $5,000 might not even be a high level of material at a $10,000,000 company.
Remember! This is just a sample.
You can get a custom paper by one of our expert writers.
Get your custom essay
Helping students since 2015
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download