會(huì)計(jì)Essay代寫(xiě)范文模板：Audit of Lynas Corporation Limited (LYC)

本文是會(huì)計(jì)專(zhuān)業(yè)的Essay范例，題目是“Audit of Lynas Corporation Limited (LYC)（萊納斯有限公司(LYC)的審計(jì)）”，審計(jì)是確保與決策有關(guān)的經(jīng)濟(jì)活動(dòng)的工作過(guò)程和制度的有效性。任何商業(yè)組織完成的活動(dòng)都需要由審計(jì)員監(jiān)督和檢查，以了解作為帳戶(hù)和管理系統(tǒng)的信息的潛力和可靠性。任何商業(yè)組織的活動(dòng)都可以通過(guò)審計(jì)來(lái)衡量，審計(jì)員的職責(zé)就是通過(guò)遵守一些具體的規(guī)則和規(guī)定來(lái)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(yè)公司之一。作為一名審計(jì)師，該公司的重要性將通過(guò)對(duì)該業(yè)務(wù)組織的錯(cuò)誤檢查和風(fēng)險(xiǎn)評(píng)估來(lái)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(jié):

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(jì)師在審計(jì)任何商業(yè)組織時(shí)需要考慮的財(cái)務(wù)報(bào)告(carselli, 2003)。通過(guò)這種重要性報(bào)告，審計(jì)師可以識(shí)別LYC有限公司任何財(cái)務(wù)報(bào)表的錯(cuò)報(bào)。這是對(duì)特定商業(yè)組織的財(cái)務(wù)風(fēng)險(xiǎn)的評(píng)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(wàn)美元。在公司成立的前幾年，LYC總是面臨負(fù)的EBIT，與2016年虧損9410萬(wàn)美元相比，2017年的EBIT大幅下降(carselli, 2003)。該公司在過(guò)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(dòng)較大，比較穩(wěn)定，為3664萬(wàn)美元。這家公司從創(chuàng)業(yè)開(kāi)始到最近幾年都在虧損。2017年，通過(guò)增加銷(xiāo)售收入，他們將2016年的損失從9411萬(wàn)美元減少到2017年的3664萬(wàn)美元。對(duì)比2016年的EBIT與2017年的EBIT，計(jì)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(dāng)?shù)幕A(chǔ)。基數(shù)可以從損益表和資產(chǎn)負(fù)債表中選擇。損益表基礎(chǔ)包括稅前利潤(rùn)、收入或毛利，資產(chǎn)負(fù)債表基礎(chǔ)包括總資產(chǎn)和權(quán)益。在Lynas的案例中，一家公司正在經(jīng)歷虧損，因此稅前利潤(rùn)不能作為適當(dāng)?shù)幕A(chǔ)，因此收入可以用作適當(dāng)?shù)幕A(chǔ)。

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(jié):

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(shù)值上不同值的比較。將一個(gè)數(shù)字與另一個(gè)數(shù)字根據(jù)其值進(jìn)行比較的比例稱(chēng)為ratio (Eliot, 2016)。一個(gè)數(shù)字的值將與另一個(gè)數(shù)字計(jì)算，但它們將相互比較。在任何商業(yè)組織中，比率分析對(duì)于了解各年度的進(jìn)展是非常重要的，這是審計(jì)的一個(gè)重要部分(Eliot, 2016)。在這部分評(píng)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(fù)債比率，即從總資產(chǎn)中計(jì)算出可能的負(fù)債比率。這兩個(gè)元素被用來(lái)表示比率，比率越少對(duì)組織越好，因?yàn)樗硎驹谠撈陂g的債務(wù)越低(Grant, Sen & Spring, n.d.)。但從2014年到2017年，他們的債務(wù)比率正在以較高的速度增長(zhǎng)，這對(duì)他們未來(lái)不利，因?yàn)樗麄兛赡懿坏貌幻鎸?duì)更低的資金問(wèn)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(chǎn)收益率和資產(chǎn)收益率是完全相同的情況，因?yàn)樗械慕痤~都是負(fù)面的，因?yàn)閾p益表中的損失帳戶(hù)必須由他們收回。最后，股息支付率正在討論，可以看到，從過(guò)去三年沒(méi)有支付股息。這就是為什么這個(gè)比率的這一行被寫(xiě)為過(guò)去沒(méi)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(jié):

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(huì)計(jì)和企業(yè)組織方面，現(xiàn)金流被認(rèn)為是發(fā)生在某一特定時(shí)期的初始現(xiàn)金，如-期初余額和期末現(xiàn)金，如期末余額的差額(杰弗里，2008)。現(xiàn)金流有兩種——現(xiàn)金流入和現(xiàn)金流出。現(xiàn)金流入是公司通過(guò)增加現(xiàn)金頭寸而實(shí)現(xiàn)的現(xiàn)金流。現(xiàn)金流出是指在公司中減少的現(xiàn)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(xù)經(jīng)營(yíng)關(guān)系到企業(yè)在一定時(shí)期內(nèi)的日常活動(dòng)中有足夠的資金。在編制財(cái)務(wù)報(bào)告時(shí)采用了持續(xù)經(jīng)營(yíng)假設(shè)。在2017財(cái)年有凈虧損和凈現(xiàn)金流入。有一些關(guān)鍵的假設(shè)會(huì)影響業(yè)務(wù)。它們是:外匯匯率，實(shí)際地球產(chǎn)品的價(jià)格，預(yù)測(cè)產(chǎn)量，持續(xù)提高的成本性能等。根據(jù)ASA 570 (ISA 570)的規(guī)定，如果審計(jì)師發(fā)現(xiàn)任何風(fēng)險(xiǎn)因素表明持續(xù)經(jīng)營(yíng)假設(shè)存在風(fēng)險(xiǎn)，則應(yīng)執(zhí)行以下程序，如評(píng)估現(xiàn)金流、收入和費(fèi)用項(xiàng)目、中期財(cái)務(wù)報(bào)告、識(shí)別和評(píng)估緩解因素等。

Conclusion:結(jié)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(píng)估中，LYC公司的審計(jì)活動(dòng)已經(jīng)完成，所需的風(fēng)險(xiǎn)已經(jīng)確定。完成了現(xiàn)金流量分析和比率分析，并給出了現(xiàn)金流量的解釋。審核員已經(jīng)完成了積極的風(fēng)險(xiǎn)和重要性檢查，并確定了重要性水平。

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