You Have Just Been Promoted to the Position of Senior

Essay

You have just been promoted to the position of senior accountant with the public accounting firm of Ohm and Dylan.Your first audit client as senior accountant is to be the United Manufacturing Company.You have had a considerable amount of experience both in planning and conducting the audit procedures for current asset accounts such as cash,receivables,and inventory.This is your first experience,however,in planning the audit of the property,plant,and equipment accounts.Compare the nature of current assets with property,plant,and equipment,and describe how any differences might affect your audit generally.