The analytical procedures completed during the planning stages typically would not include comparison of current-year account balances with
A) Balances for one or more comparable periods.
B) Anticipated results found in budgets.
C) Evaluation of relationships to other current-year balances.
D) Other accounts as substantive procedures.

Question

Quizplus · Accepted Answer

Analytical procedures completed during the planning stages are used to identify areas with significant fluctuations and unusual balances. These procedures may include analyzing relationships and trends within current-year balances, comparing current-year balances with budgets or prior periods, and identifying unusual fluctuations. However, substantive procedures such as detailed testing of transactions and balances would be performed during the execution stage. Therefore, comparison of current-year account balances with other accounts would not typically be completed during the planning stages.

The Analytical Procedures Completed During the Planning Stages Typically Would