AFM 451 Study Guide - Ratia, Leading Edge, Inta
Document Summary
Greener power corporation (gp) is a medium-sized company that is developing solar energy systems for private residences and small business. It is privately owned, with the majority of the shares held by the company"s president, michelle d"souza. Started up two years ago, to date it is mostly involved in research and development, but this year it completed its first customer sales and installation. Ms. d"souza has engaged your firm to do the current year"s audit because she plans to obtain million in debt financing from venture capitalists to allow further commercialization of the gp systems. You are now reviewing gp"s preliminary financial statements in order to begin preparing the audit planning. The following is a summary of the financial statements as at year end: Competency grid used to evaluate student responses for q1. Understood and provided relevant supporting facts from case to justify responses. Demonstrated a low level of understanding of key concepts.