Understanding the Client and Performing Analytical Procedures

Overview
In this assignment, you will prepare a two to three page report that addresses the requirements specified in the case for Parts 1 and 2. Include your calculations as part of your analysis and fully explain the results. Also, include a minimum of two current references to scholarly and/or authoritative sources.
Instructions
Your report must address all of the following:

1. Address the overall understanding of the retail and wholesale industries and identified areas that impact financial reporting.
2. Analyze Cloud 9’s financial position and its business risks. Include ratios supporting the business analysis.
3. Identify areas requiring special emphasis during the audit and potential problem areas.
4. Address materiality in your response.
5. Use at least two current, quality academic or authoritative sources in this assignment. Note: Wikipedia and similar websites do not qualify as quality scholarly and/or authoritative sources. Use the Strayer University Library to conduct your research.
6. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.
   The specific course learning outcome associated with this assignment is:

• Analyze a company’s financial position and business risks relative to an audit.

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