substantive response

substantive response

Provide an original and substantive response to the questions posed in your Assignment in a minimum of 200
words.
Product warranties are an interesting liability on a client’s books. When a car company issues a recall for a
defective part, management can easily determine the number of units sold and to whom, as well as estimate
the parts and labor necessary. Chances are a good number of consumers will elect to have the work done.
Think about other companies, such as a luggage manufacturer. Suppose you purchased a luggage set 5 years
ago for $300. The luggage came with a lifetime warranty, serviced only by the manufacturer and not the
retailer. You have noticed a rip in the fabric, but you do not want to go through the trouble of mailing the
suitcase back for repair. Of course the company would honor your claim if you chose to send in your suitcase,
but did they set aside proper liability reserves?

substantive response
● If you were auditing the luggage company, how would you gain confidence in management’s
accounting for warranty claims?
● Would you assume the company adequately accounts for the number of people who might make
claims?
● What information would you use to gain confidence in their valuation?
● What are some other warranty situations where it is more of a guessing game as to how many claims
could be filed in any given year?
Once completed, submit your Assignment to the Unit 7 Assignment 2 Dropbox. Assignments are due Tuesday
11substantive response :59 p.m. ET of their assigned unit.

AC410: Writing Assignment
Responds substantively demonstrating their understanding of the content
found in their Reading to the following questions:
Points
Possible
Points
Earned
If you were auditing the luggage company, how would you gain confidence in
management’s accounting for warranty claims?
substantive response 2
Would you assume the company adequately accounts for the number of people who
might make claims? 2
What information would you use to gain confidence in their valuation? 2
What are some other warranty situations where it is more of a guessing game as to
how many claims could be filed in any given year? 2
Grammar, spelling, and writing style, in a minimum of 200 words 2
Total Points 10

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