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WOT Task 2 (0215)

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WOT Task 2 (0215)

value: 0.00 value: 1.00 value: 2.00 value: 3.00 value: 4.00 Score/Level
Articulation of Response (clarity, organization, mechanics)The candidate provides unsatisfactory articulation of response.The candidate provides weak articulation of response.The candidate provides limited articulation of response.The candidate provides adequate articulation of response.The candidate provides substantial articulation of response.
A1. Company InformationThe candidate does not identify the company’s basic information.Not applicable.The candidate identifies the company’s basic information, including 1–7 of the given points.Not applicable.The candidate identifies the company’s basic information, including all 8 of the given points.
A2. Top Customers and SuppliersThe candidate does not identify the company’s top 3 customers and/or suppliers.Not applicable.The candidate identifies 1-2 of the company’s top 3 customers and/or suppliers.Not applicable.The candidate identifies the company’s top 3 customers and/or suppliers.
A3. Sources of FinancingThe candidate does not identify the company’s sources of financing.Not applicable.Not applicable.Not applicable.The candidate identifies the company’s sources of financing.
A4. Related PartiesThe candidate does not identify the company’s related parties, including people and other companies.Not applicable.Not applicable.Not applicable.The candidate identifies the company’s related parties, including people and other companies, OR the candidate accurately identifies that the company has no related parties.
A5. Life CycleThe candidate does not accurately identify the current stage in the company’s life cycle.Not applicable.Not applicable.Not applicable.The candidate accurately identifies the current stage in the company’s life cycle.
A6. Identification of RisksThe candidate does not identify any risks associated with this business and/or industry.Not applicable.The candidate identifies 1–2 risks associated with this business and/or industry.Not applicable.The candidate identifies 3 risks associated with this business and/or industry.
A7. Key Economic FactorsThe candidate does not identify any key economic factors that affect the company.Not applicable.The candidate identifies 1 key economic factor that affects the company and how it stands with respect to this factor.Not applicable.The candidate identifies 2 key economic factors that affect the company and how it stands with respect to these factors.
A8. Accounting ConsiderationThe candidate does not provide an appropriate description of 1 unique accounting consideration for companies in this industry.The candidate provides an appropriate description, with no detail, of 1 unique accounting consideration for companies in this industry.The candidate provides an appropriate description, with limited detail, of 1 unique accounting consideration for companies in this industry.The candidate provides an appropriate description, with adequate detail, of 1 unique accounting consideration for companies in this industry.The candidate provides an appropriate description, with substantial detail, of 1 unique accounting consideration for companies in this industry.
A9. Legal, Regulatory, and Social MattersThe candidate does not provide an appropriate description of any of the given matters that are relevant to the chosen company.The candidate provides an appropriate description of 1–2 of the given matters that are relevant to the chosen company, OR the candidate provides an appropriate description, with no detail, of each of the given matters that are relevant to the chosen company.The candidate provides an appropriate description, with limited detail, of each of the 3 given matters that are relevant to the chosen company.The candidate provides an appropriate description, with adequate detail, of each of the 3 given matters that are relevant to the chosen company.The candidate provides an appropriate description, with substantial detail, of each of the 3 given matters that are relevant to the chosen company.
A10. Additional QuestionsThe candidate does not provide an appropriate recommendation of any additional questions to ask a company representative in an interview setting.Not applicable.The candidate provides an appropriate recommendation of 1 additional question to ask a company representative in an interview setting.Not applicable.The candidate provides an appropriate recommendation of 2 additional questions to ask a company representative in an interview setting.
A10a. Justification of Recommended QuestionsThe candidate does not provide a logical justification of the question recommendations from part A10.The candidate provides a logical justification, with no support, of the question recommendations from part A10.The candidate provides a logical justification, with limited support, of the question recommendations from part A10.The candidate provides a logical justification, with adequate support, of the question recommendations from part A10.The candidate provides a logical justification, with substantial support, of the question recommendations from part A10.
A10b. Identification of IndividualsThe candidate does not identify any individuals within the company to whom the candidate would ask each question identified in part A10.Not applicable.The candidate appropriately identifies individuals within the company to whom the candidate would ask 1 question identified in part A10.Not applicable.The candidate appropriately identifies individuals within the company to whom the candidate would ask each question identified in part A10.
B. Primary Audit ConcernsThe candidate does not provide a logical discussion of any primary audit concerns based upon the analysis of the data compiled in part A.The candidate provides a logical discussion of 1–2 primary audit concerns based upon the analysis of the data compiled in part A, OR the candidate provides a logical discussion, with no support, of 3 primary audit concerns based upon the analysis of the data compiled in part A.The candidate provides a logical discussion, with limited support, of 3 primary audit concerns based upon the analysis of the data compiled in part A.The candidate provides a logical discussion, with adequate support, of 3 primary audit concerns based upon the analysis of the data compiled in part A.The candidate provides a logical discussion, with substantial support, of 3 primary audit concerns based upon the analysis of the data compiled in part A.
C1. Vertical Analysis of Financial StatementsThe candidate does not provide a vertical analysis of the financial statements for 2011 through 2013.Not applicable.Not applicable.Not applicable.The candidate provides a vertical analysis of the financial statements for 2011 through 2013.
C2. Company Growth or DeclineThe candidate does not provide a logical evaluation of whether the chosen company is growing or declining.The candidate provides a logical evaluation, with no support, of whether the chosen company is growing or declining.The candidate provides a logical evaluation, with limited support, of whether the chosen company is growing or declining.The candidate provides a logical evaluation, with adequate support, of whether the chosen company is growing or declining.The candidate provides a logical evaluation, with substantial support, of whether the chosen company is growing or declining.
C2a. Increases or Decreases in AccountsThe candidate does not identify major increases or decreases in accounts.Not applicable.Not applicable.Not applicable.The candidate accurately identifies major increases or decreases in accounts.
C2ai. Justification of IdentificationsThe candidate does not provide a logical justification of the identifications made in part C2a.The candidate provides a logical justification, with no support, of the identifications made in part C2a.The candidate provides a logical justification, with limited support, of the identifications made in part C2a.The candidate provides a logical justification, with adequate support, of the identifications made in part C2a.The candidate provides a logical justification, with substantial support, of the identifications made in part C2a.
C3. Stock PriceThe candidate does not accurately determine how the stock price of the chosen company has moved since the issuance of the last annual report and 10-k.Not applicable.Not applicable.Not applicable.The candidate accurately determines how the stock price of the chosen company has moved since the issuance of the last annual report and 10-k.
C4a. Comparison to Prior PeriodsThe candidate does not provide a logical discussion of the chosen company’s 2 financial strengths in 2013 in comparison to prior periods.The candidate provides a logical discussion of 1 of the chosen company’s financial strengths in 2013 in comparison to prior periods.The candidate provides a logical discussion, with limited support, of the chosen company’s 2 financial strengths in 2013 in comparison to prior periods.The candidate provides a logical discussion, with adequate support, of the chosen company’s 2 financial strengths in 2013 in comparison to prior periods.The candidate provides a logical discussion, with substantial support, of the chosen company’s 2 financial strengths in 2013 in comparison to prior periods.
C4b. Comparison to the IndustryThe candidate does not provide a logical discussion of the chosen company’s 2 financial strengths in 2013 in comparison to the strength of its industry.The candidate provides a logical discussion of 1 of the chosen company’s financial strengths in 2013 in comparison to the strength of its industry.The candidate provides a logical discussion, with limited support, of the chosen company’s 2 financial strengths in 2013 in comparison to the strength of its industry.The candidate provides a logical discussion, with adequate support, of the chosen company’s 2 financial strengths in 2013 in comparison to the strength of its industry.The candidate provides a logical discussion, with substantial support, of the chosen company’s 2 financial strengths in 2013 in comparison to the strength of its industry.
D1. Impact of Audit OpinionThe candidate does not accurately determine the impact of the prior year’s audit opinion for the current year’s audit plan.Not applicable.Not applicable.Not applicable.The candidate accurately determines the impact of the prior year’s audit opinion for the current year’s audit plan.
D2. Control Risk RecommendationThe candidate does not provide an appropriate recommendation of whether the control risk of the chosen company should be assessed at the maximum level or below.Not applicable.The candidate provides an incomplete recommendation of whether the control risk of the chosen company should be assessed at the maximum level or below.Not applicable.The candidate provides an appropriate recommendation of whether the control risk of the chosen company should be assessed at the maximum level or below.
D2a. Justification of Control Risk RecommendationThe candidate does not provide a logical justification of the recommendation made in part D2.The candidate provides a logical justification, with no support, of the recommendation made in part D2.The candidate provides a logical justification, with limited support, of the recommendation made in part D2.The candidate provides a logical justification, with adequate support, of the recommendation made in part D2.The candidate provides a logical justification, with substantial support, of the recommendation made in part D2.
D3. Impact of Audit ProceduresThe candidate does not provide a logical discussion of the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed including each of the given points.The candidate provides a logical discussion of the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed including 1–2 of the given points, OR the candidate provides a logical discussion, with no support, of the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed including each of the given points.The candidate provides a logical discussion, with limited support, of the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed including each of the given points.The candidate provides a logical discussion, with adequate support, of the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed including each of the given points.The candidate provides a logical discussion, with substantial support, of the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed including each of the given points.
D4. Audit Areas of FocusThe candidate does not accurately identify areas of focus for the upcoming audit, including specific balance sheet and income statement accounts based upon the significance of those accounts and their related risks.Not applicable.Not applicable.Not applicable.The candidate accurately identifies areas of focus for the upcoming audit, including specific balance sheet and income statement accounts based upon the significance of those accounts and their related risks.
D5. Recommendation of Test MethodsThe candidate does not provide an appropriate recommendation of which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.The candidate provides an appropriate recommendation, with no detail, of which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.The candidate provides an appropriate recommendation, with limited detail, of which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.The candidate provides an appropriate recommendation, with adequate detail, of which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.The candidate provides an appropriate recommendation, with substantial detail, of which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.
D5a. Justification of Recommended Test MethodsThe candidate does not provide a logical justification of the recommendation made in part D5.The candidate provides a logical justification, with no support, of the recommendation made in part D5.The candidate provides a logical justification, with limited support, of the recommendation made in part D5.The candidate provides a logical justification, with adequate support, of the recommendation made in part D5.The candidate provides a logical justification, with substantial support, of the recommendation made in part D5.
D6. Going-Concern ConsiderationThe candidate does not present a logical discussion of whether or not there is a going-concern consideration.The candidate presents a logical discussion, with no support, of whether or not there is a going-concern consideration.The candidate presents a logical discussion, with limited support, of whether or not there is a going-concern consideration.The candidate presents a logical discussion, with adequate support, of whether or not there is a going-concern consideration.The candidate presents a logical discussion, with substantial support, of whether or not there is a going-concern consideration.
D7. Audit Location RecommendationThe candidate does not provide an appropriate recommendation for whether the audit should be conducted at one main location or if the audit team should be dispersed to other locations.Not applicable.Not applicable.Not applicable.The candidate provides an appropriate recommendation for whether the audit should be conducted at one main location or if the audit team should be dispersed to other locations.
D7a. Justification of Audit Location RecommendationThe candidate does not provide a logical justification of the recommendation made in part D7.The candidate provides a logical justification, with no support, of the recommendation made in part D7.The candidate provides a logical justification, with limited support, of the recommendation made in part D7.The candidate provides a logical justification, with adequate support, of the recommendation made in part D7.The candidate provides a logical justification, with substantial support, of the recommendation made in part D7.
D8. Audit DescriptionThe candidate does not provide a reasonable description of any of the main steps the audit team will perform.The candidate provides a reasonable description of 1–4 of the main steps the audit team will perform.The candidate provides a reasonable description, with limited detail, of the 5 main steps the audit team will perform.The candidate provides a reasonable description, with adequate detail, of the 5 main steps the audit team will perform.The candidate provides a reasonable description, with substantial detail, of the 5 main steps the audit team will perform.
E. SourcesWhen the
candidate
uses sources,
the candidate
does not
provide in-text
citations
and references.
When the
candidate
uses sources,
the candidate
provides only
some in-text
citations
and
references.
When the
candidate
uses sources,
the candidate
provides
appropriate
in-text
citations
and
references
with major
deviations
from APA
style.
When the
candidate
uses sources,
the candidate
provides
appropriate
in-text
citations
and
references
with minor
deviations
from APA
style.
When the
candidate
uses
sources, the
candidate
provides
appropriate
in-text
citations
and
references
with no
readily
detectable
deviations
from APA
style, OR
the
candidate
does not use
sources.

 

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