LO 17-1 I, 17-36. Roscoe & Jones, Ltd., a CPA firm in Silver Bell, Arizona, has completed the audit of the financial 3 , 4 statements of Excelsior Corporation as of, and for, the year ended December 31, 20X 1. Findings related to the financial statements and the audit include • Although Excelsior has been in existence for a number of years and been audited for the past seven years by Roscoe & Jones, it is presenting only current-year financial statements. • Roscoe was unable to perform normal accounts receivable confirmation procedures, but alternate procedures were used to satisfy Roscoe as to the validity of the receivables. • Excelsior Corporation is the defendant in litigation, the outcome of which is highly uncertain. If the case is settled in favor of the plaintiff, Excelsior will be required to pay a substantial amount of cash that might require the sale of certain assets. The litigation and the possible effects have been properly disclosed in Note 11. Roscoe wishes to include discussion of this matter in the audit report.
• During 20X I Excelsior changed its method of accounting for long-term construction contracts and properly reflected the effect of the change. Roscoe is satisfied with Excelsior’s justification for making the change. The change is discussed in Note 12. • Excelsior issued debentures on January 31, 20X1, in the amount of $10 million. The funds obtained from the issuance were used to finance the expansion of plant facilities. The debenture agreement restricts the payment of future cash dividends to earnings after December 31, 20X 1. Excelsior declined to disclose these data in the notes to the financial statements. Roscoe considers this a material but not pervasive omission.
• Roscoe gathered sufficient appropriate audit evidence as of February 10, 20X2, and planned a report release date of February 16, 20X2. Required: Consider all facts given and prepare an auditors’ report in an acceptable and complete format, incorporating any necessary departures from the standard report.
Vaporwave took commending the past from hypnagogic pop and subverted the tunes to be practically evil, painting the passings of music long past. The vaporwave development brought to fulfillment numerous new subgenres. Mallsoft, one of the many, is a subgenre of vaporwave that centers around the sentiments of realism and industrialism that accompany being within a shopping center. Numerous tunes right now intended to be the perfect melody for tuning in to while entangled in the advances and blinding forms of publicity inside a strip mall (Chandler, Genre As Method). This branch was probably brought about by the enormous measure of vaporwave craftsmanship featuring strip malls and shopping centers. The following stage for specialists was to interface their ways of thinking and convictions about industrialism to music that they felt spoke to best what it feels like to be within a shopping center. Future Funk is a subgenre of vaporwave that is fundamental center is the sentimentality. A large number of the examples utilized right now music are from the 1970's, originating before the music by and large used to make vaporwave (Chandler, Genre As Method). This is the place the "funk" some portion of the name originates from. The objective of this classification is additionally very not quite the same as the topic of vaporwave. Rather than tossing industrialism notwithstanding audience members to constrain them to acknowledge it, future funk intends to get audience members far from commercialization. Future funk specialists make music that is nostalgic and lovely, intended to divert audience members from getting got up to speed in the consumerist media encompassing them (Chandler, Genre As Method). Vaporwave itself is a sublet of the electronic music class. The term of electronic music can apply to any kind of music created by electrical or advanced methods; be that as it may, "for music to be unequivocally electronic then the author of the music must interface with the electronic medium and electronic preparing applied to his melodic idea" (Misachi). Right now, music is more a procedure of making music than a class. Vaporwave specialists apply an electronic procedure to recently made melodies or sound clasps to make a totally new sonic picture.>GET ANSWER