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 |
（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）
【答案】
（1）应选择营业收入作为计算重要性水平的基础。
因为营业收入具有稳定性，净利润有亏转盈，不具有稳定性。
（2）存货周转率＝54 000/[（16000+12000）/2]＝3.86
销售毛利率＝（64000-54000）/64000×100％＝15.63％
总资产净利率＝30/[（100000+90000）/2]＝0.03％
流动比率＝60000/20000＝3
（3）
a.应建议做如下审计调整分录：
借：应收票据 6 000 000
贷：短期借款 5 820 000
财务费用 180 000
b.应建议做如下审计调整分录：
借：预计负债 3 000 000
贷：营业外支出 500 000
其他应付款 2 500 000
