Tham khảo tài liệu 'accountants’ handbook special industries and special topics 10th edition_15', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 38 24 PROSPECTIVE FINANCIAL STATEMENTS Management has identified all key factors expected to affect the entity during the prospective period. Management has developed assumptions for each key factor. The assumptions are suitably supported. To determine whether management has identified all key factors and developed assumptions for each one the accountant needs to possess or obtain during the engagement an appropriate knowledge of the industry in which the entity will operate and the accounting principles and practices of that industry. The accountant can conclude that the assumptions are suitably supported if the preponderance of information supports each significant assumption. Preponderance here does not imply a statistical majority of information. A preponderance exists if the weight of available information tends to support the assumption. The AICPA Guide states however Because of the judgments involved in developing assumptions different people may arrive at somewhat different but equally reasonable assumptions based on the same information. The accountant need not obtain support for the hypothetical assumptions in a projection since they are not necessarily expected to occur. For a projection the accountant considers whether the hypothetical assumptions are consistent with the purpose of the projection and whether the other assumptions are suitably supported given the hypothetical assumption. In evaluating the support for the assumptions the accountant considers six factors 1. Whether sufficient pertinent sources of information both internal and external to the entity have been considered 2. Whether the assumptions are consistent with the sources from which they are derived 3. Whether the assumptions are consistent with each other 4. Whether the historical financial information and other data used in developing the assumptions are sufficiently reliable for that purpose 5. Whether the historical information and other data used in developing the assumptions are
