會計Essay代寫范文模板：Audit of Lynas Corporation Limited (LYC)
本文是會計專業的Essay范例，題目是“Audit of Lynas Corporation Limited (LYC)（萊納斯有限公司(LYC)的審計）”，審計是確保與決策有關的經濟活動的工作過程和制度的有效性。任何商業組織完成的活動都需要由審計員監督和檢查，以了解作為帳戶和管理系統的信息的潛力和可靠性。任何商業組織的活動都可以通過審計來衡量，審計員的職責就是通過遵守一些具體的規則和規定來確保這種衡量。Lynas有限公司(LYC)成立于1983年，是西澳大利亞最大的礦業公司之一。作為一名審計師，該公司的重要性將通過對該業務組織的錯誤檢查和風險評估來衡量。
INTRODUCTION:介紹
The audit is about ensuring the working process and system of economic activity which is related to decision making as valid. Completed activities of any business organization need to be monitored and checked by an auditor to understand the potentiality and reliability of the information’s included as accounts and management system. The activities of any business organizations can be measured by auditing and the duty of an auditor is to ensure this measurement by following some specific rules and regulations. The company Lynas Corporation Limited (LYC) is one of the biggest mining companies in Western Australia which was founded in 1983. As an auditor, the materiality of this company will be measured by checking error and risk assessment of this business organization.
SECTION 1:第一節:
Materiality is a financial reporting that an auditor needs to consider while auditing any business organization (Caroselli, 2003). Through this materiality reporting an auditor can identify the misstatement of any financial statement of LYC limited. This is an assessment of identifying the risk of finance of the particular business organization.
重要性是審計師在審計任何商業組織時需要考慮的財務報告(carselli, 2003)。通過這種重要性報告，審計師可以識別LYC有限公司任何財務報表的錯報。這是對特定商業組織的財務風險的評估。
ISA 320 standard for materiality (2016-version) describes the framework of financial reporting expresses the theory of materiality with the presentation as well as preparation context of the financial statement (Caroselli, 2003). According to the framework of financial reporting materiality is explained as:
Misstatement of the financial report
Omissions in report
Elements that influence the economic decision
Materiality judgment depends on the nature and the size or the both of misstatement.
Misstatement can happen on any individual user or client (Caroselli, 2003).
Revenue:
The revenue of LYC limited, after deducting the service commission was $257 million in the year 2017 which was increased amount compared with the revenue of 2016 which was $191 million. This increased revenue reflects on the production volume positively (Caroselli, 2003). This positive impact on revenue benefits the company to develop a strong strategic relationship with the customers.
Loss before tax:稅前損失:
The loss before tax of LYC in the year 2017 was $35.6 million. In previous years from the startup of the company, LYC always faced negative EBIT which reduced tremendously in the year 2017 compared with the loss of 2016 which was $94.1 million (Caroselli, 2003). This company is facing losses for the last few years and but the ratio of loss decreased in the year 2017.
LYC 2017年稅前虧損3560萬美元。在公司成立的前幾年，LYC總是面臨負的EBIT，與2016年虧損9410萬美元相比，2017年的EBIT大幅下降(carselli, 2003)。該公司在過去幾年面臨虧損，但虧損比例在2017年有所下降。
Current assets:
The current asset of LYC limited is $108.835 million in the year 2017 which increased from the current assets of the year 2016 and the amount was $102.196 million. The number of current assets increased from 2016 to 2017 which is positive for the business (Eliot, 2016). That means the company LYC has bought some new assets in the year 2017 which is why the amount increased (Eliot, 2016).
Yes, the EBIT of LYC was volatile and fairly stable which was $36.64 million. This company was on the loss for the last few years from the startup of the business. In 2017 they reduce the loss of 2016 $ 94.11 million to $36.64 million in the year 2017 by increasing revenue from sales. The calculation is clear comparing the EBIT of 2016 with the EBIT of 2017 (Eliot, 2016).
是的，LYC的EBIT波動較大，比較穩定，為3664萬美元。這家公司從創業開始到最近幾年都在虧損。2017年，通過增加銷售收入，他們將2016年的損失從9411萬美元減少到2017年的3664萬美元。對比2016年的EBIT與2017年的EBIT，計算是清楚的(Eliot, 2016)。
At the time of auditing the business LYC limited, above financial statements were found about the year 2017.
In order to determine the materiality, there is a need of appropriate base. The base can be selected from income statement and balance sheet. Income statement base includes profit before tax, revenue or gross profit and balance sheet base consists total assets and equity. In the case of Lynas, a company is experiencing loss so that profit before tax cannot be appropriate base so revenue can be used as an appropriate base.
為了確定重要性，需要有適當的基礎?；鶖悼梢詮膿p益表和資產負債表中選擇。損益表基礎包括稅前利潤、收入或毛利，資產負債表基礎包括總資產和權益。在Lynas的案例中，一家公司正在經歷虧損，因此稅前利潤不能作為適當的基礎，因此收入可以用作適當的基礎。
Here, the group materiality for Lynas is 0.5% of total revenue i.e. 0.5% of $ 256,976,000 equals to $ 1,284,880. We used total revenue base because the company is bearing net loss in the year 2017.
SECTION 2:第二節:
The ratio is a comparison of the different value in number. The proportion of one number will be compared with another number according to their value is called ratio (Eliot, 2016). The value of one number will be calculated with another number but they will be compared with each other. In any business organization ratio analysis is very important to understand the progress within respective years which is an essential part of auditing (Eliot, 2016). In this part of the assessment, the ratio analysis of LYC Limited will be analyzed for the year 2014 to 2017.
比值是數值上不同值的比較。將一個數字與另一個數字根據其值進行比較的比例稱為ratio (Eliot, 2016)。一個數字的值將與另一個數字計算，但它們將相互比較。在任何商業組織中，比率分析對于了解各年度的進展是非常重要的，這是審計的一個重要部分(Eliot, 2016)。在這部分評估中，我們將分析LYC Limited 2014 - 2017年的比率分析。
The current ratio is found out by dividing current assets from the current liabilities of the organization LYC. From the above comparative analysis, it can be seen that clearly in 2017 their CA ratio is good because it is slightly more than 1 and others are lower than this year because of receiving more cash in 2017 (Grant, Sen & Spring, n.d.).
The second ratio is debt ratio that finds out possible ratio by calculating total debts from total assets. These two elements are being used to express the ratio and the less is the ratio the better is for the organization because it indicates lower debt in the period (Grant, Sen & Spring, n.d.). But from 2014-2017 their debt ratio is increasing at a high rate which is not good for them in the future because they may have to face lower fund problems.
第二種比率是負債比率，即從總資產中計算出可能的負債比率。這兩個元素被用來表示比率，比率越少對組織越好，因為它表示在該期間的債務越低(Grant, Sen & Spring, n.d.)。但從2014年到2017年，他們的債務比率正在以較高的速度增長，這對他們未來不利，因為他們可能不得不面對更低的資金問題。
Gross profit ratio is calculated by dividing gross profit by total assets and from the table, it can be said that LYC gross profit ratio is in good position on 2017 only because remaining years are showing negative number because of gross loss (Grant, Sen & Spring, n.d.).
Return on assets of LYC Company is not in a good position at all because in the past four years they are facing losses due to loss before tax amount. It is not good for the organization and this is the reason management needs to make improvement and increase sales so that they can recover loss situation from profitability (Houghton & Campbell, 2005).
Return on equity is in an exactly same situation as like Return on assets because all amounts are getting a negative view because of loss account in income statement which must be recovered by them.at last dividend payout ratio is being discussed where it can be seen that there is no dividend paid out since last three years. This is the reason the row of this ratio is written as no dividend has been paid since past (Houghton & Campbell, 2005).
凈資產收益率和資產收益率是完全相同的情況，因為所有的金額都是負面的，因為損益表中的損失帳戶必須由他們收回。最后，股息支付率正在討論，可以看到，從過去三年沒有支付股息。這就是為什么這個比率的這一行被寫為過去沒有支付股息(霍頓和坎貝爾，2005年)。
The assertions about the classes of cash receipts and cash payments are described below:
For occurrence there should be documents that support the sight (sight remittance advice for cash receipts and documents supporting payment). For completeness there should be a check of detailed transaction, advice on remittance and cheques. Accuracy is other assertions in which supporting document to verify dollar amount of the transaction is needed. Before balance date cash receipts and payments should be checked and after the balance date cash receipts and payments in the correct period there is cutoff assertions. Classification is the last assertions in which the cash is recorded according to the chart of accounts.
SECTION 3:第三節:
In terms of accounting and business organizational aspects, cash flow is perceived as the difference in amounts that take place in cash available at the very initiation of a certain period such as- opening balance and at the end of a period such as- closing balance (Jeffrey, 2008). There are two kinds of cash flows- cash inflows and outflows. Cash inflows are cash flows that the company achieves by increasing their cash position. Cash outflows are cash flows which get decreased in the company (Jeffrey, 2008).
在會計和企業組織方面，現金流被認為是發生在某一特定時期的初始現金，如-期初余額和期末現金，如期末余額的差額(杰弗里，2008)?，F金流有兩種——現金流入和現金流出?，F金流入是公司通過增加現金頭寸而實現的現金流?，F金流出是指在公司中減少的現金流(Jeffrey, 2008)。
The cash flow statement showed that LYC is having high net operating cash flow in 2017 than 2016 because of high cash receipt in2017 which are really exceptional (Verschoor, 2008). Highest net cash inflow generated by the company is in 2017 that is $33,993 and the highest cash out from the organization incurs in 2016 because of higher investing and financing that is $10,275. But their net cash used amount in more in 2016 rather than 2017. But it is fair because in 2016 their operation is done more and it is the reason in 2016 they incur high net cash used in investing. Thecash receiptof LYC company includes received from trade customers and interest received whereas cash payment comprise of Payment for property, plant and equipment, payment to suppliers and employees,royalties paid and income tax paid. Theprimary cash receipts is $34.1 billion and primary cash payment is $6.9 billion.In financing activities, they invest more cash in 2017 because long-term borrowing was high in 2017 compared to 2016 (Verschoor, 2008). Their operating cash inflow is $34.10 billion in 2017 and in 2016 it was $4.10 billion. At the end of the discussion, it can be seen that in 2016 the amount of net cash flow becomes in hand at $63,925 where in 2016 it was $43,348 because of negative cash equivalent on 2016. So, at last, it can be said that the cash flow statement is the most important part of an organization as it helps to maintain how much cash generated in the organization and how much management send for investing and financing people and how much in hand at the end of the year (Verschoor, 2008).
Going concern relates that the business has the enough fund that it requires at the time of day to day activities of an organization for a definite period of time.Going concern assumption has been used for preparing the financial report. There is a net loss and net cash inflow from the operation in the Fiscal year 2017. There are a number of key assumptions that affect the business. They are: foreign currency exchange rate, prices for real earth product, forecast production volume, continuing improvements in cost performance etc. As per section ASA 570 (ISA 570) if an auditor finds any factors of risk which says that the going concern assumption is in risk then the following procedures such as assessment of cash flow, revenue and expense items, interim financial report, identification and assessment of mitigating factors etc.
持續經營關系到企業在一定時期內的日?；顒又杏凶銐虻馁Y金。在編制財務報告時采用了持續經營假設。在2017財年有凈虧損和凈現金流入。有一些關鍵的假設會影響業務。它們是:外匯匯率，實際地球產品的價格，預測產量，持續提高的成本性能等。根據ASA 570 (ISA 570)的規定，如果審計師發現任何風險因素表明持續經營假設存在風險，則應執行以下程序，如評估現金流、收入和費用項目、中期財務報告、識別和評估緩解因素等。
Conclusion:結論:
In this assessment, the auditing activity of the company LYC has been completed and required risk has been identified. The cash flow analysis and ratio analysis has been completed and the interpretation of cash flow has been shown. The aggressive risk and materiality check has been completed by the auditor and the level of materiality has been identified.
在本次評估中，LYC公司的審計活動已經完成，所需的風險已經確定。完成了現金流量分析和比率分析，并給出了現金流量的解釋。審核員已經完成了積極的風險和重要性檢查，并確定了重要性水平。
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