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Analysis Of Ywca S Financial Statements And Independent Auditors Report

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Running head: ANALYSIS OF YWCA’S INDEPENDENT AUDITORS’ REPORT Analysis of YWCA’s Financial Statements and Independent Auditors’ Report Names: Institution: 1 ANALYSIS OF YWCA’S INDEPENDENT AUDITORS’ REPORT Analysis of YWCA’s Financial Statements and Independent Auditors’ Report The chosen organization is the Young Women’s Christian Association, USA (YWCA USA). The auditing period covers 2013 and 2014 • Is the audit letter positive or negative? The audit is positive. The auditor acknowledges that the chosen organization, YWCA USA, had reported its financial statements in accordance with the GAAP principles and that they were presented fairly and with due consideration of both financial and material respects. In the Statement of Activities i. Is the total net income positive or negative in the year(s) included in the audit? The total net income for the years 2013 and 2014 is positive. Notably, the reported values for the two years can be evaluated by comparing the revenues of the two years against their respective expenses. In the case of 2013, for example, the revenues amounted to 8,431,924 against an expense of 6,363,454 while the revenues for 2014 amounted to 14,218,225 against 6,355,873 in expenses. Both years give a positive value to net income. ii. How much was released from restrictions in the year(s) presented? The released values are only based on the year 2014. In this case, a total of $1,622,846 was released from the revenues in 2014. No a ...
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