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Hello to my favorite tutor, hope you are well.
I understand how writing an email to the partner has a specific official format, however for question on Matters to consider and Evidence on File (which has like 2-3 parts regarding different matters)
Can I draw a table with the different matters as my column headers and as my row titles can I put the different things I want to write about in turn as in the materiality, the F/S impact, the evidence, the correct accounting treatment….?
………………………………………(i) Sales and Leaseback………………… (ii) Acquisition of Subsidiary
-Materiality
-Correct accounting
-Management’s accounting
-F/S impact
-Evidence on fileIs this appropriate for an exam as professional as AAA?
…………………(i) Sales and Leaseback………………… (ii) Acquisition of Subs..
-Materiality
-Correct accounting
-Management’s accounting
-F/S impact
-Evidence on fileHello my star AA student – yes I am very well!
Short answer – no.
A columnar approach/tabulation is only appropriate when there is a “matching” relationship between what is in the first column and what is in the second (and, where relevant, a third). You will have seen many examples of this in AA – e.g. Audit risk/Auditor’s response (2 columns).
Considering your suggestion – there would be no relationship between your materiality assessment for (i) and your materiality assessment for (ii) – they are completely independent of each other.
What you have is an “ideas list” – which you can easily copy and paste as the framework for your answer – overwriting each idea with an answer point (or deleting the idea when not applicable:
(i) Sales and Leaseback
-Materiality
-Correct accounting
-Management’s accounting
-F/S impact
-Evidence on file
(ii) Acquisition of Subs
-Materiality
-Correct accounting
-Management’s accounting
-F/S impact
-Evidence on file
(iii) … etcThank you Ma’am for the prompt response.
And Thank you again for your responses to all other questions on this Forum, I’ve been following them lately.
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