You are performing the year-end audit of Presto's first financial statements reflecting ASC 842 (Leases)....
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Accounting
You are performing the year-end audit of Presto's first financial statements reflecting ASC 842 (Leases). Your first challenge is to evaluate the completeness of Presto's lease adoption population assessment, to determine whether all material leases were identified and appropriately capitalized. Describe the audit procedures you intend to follow and CITE SOURCES that you found useful in researching this issue. Show in a power point presentation if possible. No more than 5 minutes long.
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