Assignment ContentPrepare a financial plan for the company you select for your business plan. This financial plan will be included in your final business plan in your capstone course.Describe the business, including the type of business.Create the business case.Determine why funding is needed for the company.Determine the sources of funding. Considerself-funding, borrowing, equity, venture capital, etc.Evaluate the requirements of each funding source you determined appropriate.Analyze the associated risks of each funding source.Decide which sources are the best fit for your company based on the requirements of each. Justify your decision.Estimate the cost of capital for both short-term and long-term funding sources. Research current estimated APRs for your selected sources of funding. Consider creating a table or chart to display this information.Create a profit-and-loss statement for a 3-year period. Project revenue, stating realistic assumptions, such as growth per year, in your projections.Estimate direct costs, including capital, marketing, labor, and supply costs.Cite references to support your assignment.Format your citations according to APA guidelines.

The Securities and Exchange Commission (SEC) regulates public companies. The SEC has found that some of these companies have violated GAAP by using creative accounting practices to mislead investors and creditors regarding the health of their company.Use the Internet to research a recent accounting scandal within the last five (5) years where the SEC accused public companies of accounting irregularities.Write a three to four (3-4) page paper in which you:Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common and federal securities laws. Justify your response.Speculate on which statement of generally acceptable auditing standards (GAAS) that the company violated in performing the audit.Compare the responsibility of both management and the auditor for financial reporting, and give your opinion as to which party should have the greater burden. Defend your position. Analyze the sanctions available under SOX, and recommend the key action(s) that the PCAOB should take in order to hold management or the audit firm accountable for the accounting irregularities. Provide a rationale for your response.Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Analyze the required generally accepted auditing standards, professional ethics, and legal liability of the auditor.Assess how the Sarbanes-Oxley Act has affected auditing.Evaluate an audit report.Evaluate objectives for conducting audits, and compare management’s and auditors’ responsibilities.Use technology and information resources to research issues in auditing.Write clearly and concisely about auditing using proper writing mechanics.