solved Using Clorox company’s financial statements focus on their (Cash/Accounts Receivable)

Using Clorox company’s financial statements focus on their (Cash/Accounts Receivable) account specifically while answering Part 1.Part I: Written Deliverable In approximately 2 pages, please answer the following questions regarding the account selected. a) Briefly describe the U.S. Generally Accepted Accounting Principles relevant to your assigned
account(s) (e.g., when is revenue recognized?).
b) Review the guidance provided by the Generally Accepted Auditing Standards (PCAOB and
AICPA standards) related to auditing your assigned account(s). Describe procedures that would
be useful to test the relevant assertions.PCAOB Auditing Standards: https://pcaobus.org/oversight/standards/auditing-s… AICPA Statements on Auditing Standards:
https://www.aicpa.org/research/standards/auditatte… c) Using the most recent 10-K for Clorox, describe the information provided by the company regarding your
assigned account(s). What is the year-end balance? How does it compare to the prior-year
balance? What risks are associated with these accounts from an audit perspective? Have recent
events from COVID-19 significantly impacted this account balance in any way? Also include a brief analysis of the account as compared to that of a close competitor of Clorox. Please provide thorough and detailed answers especially for Part 1 section (c). Thank you. Submission For the written submission, please adhere to the following formatting guidelines: Font – Times New
Roman, Size 12; Single Spaced; Standard Margins. To earn full credit, please ensure that you have followed
the instructions, used professional language, avoided spelling and grammar mistakes, and clearly
organized the responses.