NTEGRATED CASE APPLICATION—PINNACLE MANUFACTURING: PART VII 16-35 (Objectives 16-2, 16-3, 16-4) Parts III, V, and VI of this case study dealt with obtaining an understanding of internal control and assessing control risk for transactions affecting accounts payable of Pinnacle Manufacturing. In Part VII, you will design analytical procedures and design and perform tests of details of balances for accounts payable. Assume that your understanding of internal controls over acquisitions and cash disbursements and the related tests of controls and substantive tests of transactions support an assessment of a low control risk. The listing of the 519 accounts making up the accounts payable balance of $12,969,686 at December 31, 2011 is included under the Pinnacle link on the textbook Web site. Required a.) List those relationships, ratios, and trends that you believe will provide useful information about the overall reasonableness of accounts payable. You should consider income statement accounts that affect accounts payable in selecting the analytical procedures. During this course we have analyzed Pinnacle Manufacturing’s financial statements balance sheet for the year ending December 31, 2011. Through this analysis we evaluated the list of accounts payable for any large or unusual amounts and unusual vendors. We also compared the accounts payable account with previous years. Furthermore, we compared several analytical procedures that affect the accounts payable of Pinnacle Manufacturing. The accounts payable turnover ratio has increased .56% from the previous year which indicates that the company is doing a better job of paying its vendors. The company’s accounts payable trends had consistent increases from 2009-2011. Subsequently, there were not significant

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