In this lesson, Nick Palazzolo, CPA, tackles practice questions related to analytical and other procedures. The lesson starts with a question about identifying an analytical procedure among different options. It goes on to discuss the purposes of analytical procedures and provides relevant examples. The next question challenges learners to analyze how a significant increase in net income would potentially affect recorded amounts in financial statements, considering different scenarios, such as decreases in accounts payable or notes payable. Throughout the lesson, Nick explains the reasoning behind the correct answers, as well as the rationale for eliminating the incorrect ones, to deepen the understanding of the subject matter.
This video and the rest on this topic are available with any paid plan.
See Pricing