Question:
Plan for an audit of the financial statements with a focus on revenue. First, identify the relevant business cycles that are related in accounting. Include a brief description of each business cycle. For the revenue cycle, include following the audit objectives that you feel are the most relevant and that you will use in accordance with management assertions:
• Existence
• Completeness
• Accuracy or valuation
• Rights and obligations
• Presentation and disclosure
400-600 words