Integrated Case Application 16-34

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Pinnacle Manufacturing
INTEGRATED CASE APPLICATION 16-34 Conchata Rouse (a,b,and g)
Adam Mouhaumd(c,d,e, and f)
ACCT 444
Profession Leonard Franklin
10/20/2012

a. List those relationships, ratios, and trends that you believe will provide useful information about the overall reasonableness of accounts payable. You should consider income statement accounts that affect accounts payable in selecting the analytical procedures. We have analyzed Pinnacle Manufacturing balance sheet dated December 31, 2009 to provide a fairly unqualified opinion. We plan to list some relationships, trends, and ratios that will offer an overall view of the company accounts payable liabilities. We have selected several analytical procedures that are applicable to Pinnacle Manufacturing current accounts payable liabilities. • Evaluating list of accounts payable for unusual, non-vendor, and interest-bearing payables.
• Comparing individual accounts payable with previous years. To gain full knowledge of Pinnacle Manufacturing accounts payable operations we conducted a horizontal trends analysis to compare changing in the accounts payable operations from 2007-2009. The company’s accounts payable trends had consistent increases 2007-2009. Subsequently, there were not significant changes to Pinnacle Manufacturing accounts payable trends to warrant further investigation of the accounts payable.

ANALYTICAL PROCEDURES—RATIO ANALYSIS FORM

CLIENT NAME:
Pinnacle Manufacturing DATE OF FINANCIAL STATEMENTS:
December 31, 2009 LIQUIDITY RATIOS 2009
2008
2007 1. Current ratio = 44,497
25,926
36,196
17,605
36,005
16,341

Current Assets

Current Liabilities
1.7
2.0
2.20

2009
2008
2007 2. Quick or acid test ratio = 16,466
25,926
13,990
17,605
14,030
16,341

Current Assets - Inventory…...

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