Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You are the auditor of A Ltd, a company in the building industry.
In your planning for the audit, you discover that the building industry is experiencing a significant decline which increases the risk of misstated material account balances such as bad debts. You discover that the credit manager of the company reviews regularly the record of aged trade debtors. You find that the review of the aged debtors is the only internal control procedure applied on trade receivables.
Required:
(a) State the tests of controls to evaluate the effectiveness of the internal control on trade receivables(b) Suggest three additional internal control procedures to be applied by the company on trade debtors(c) State the substantive procedures on trade debtors if the tests of controls in (a) show that controls are effective.(d) You find that the credit manager fails to check the record of aged trade debtors regularly. State how this will affect the nature, timing and extent of your substantive procedures.
(Source: Case Studies in Auditing and Assurance, Roebuck, P., 4th ed., Lexis Nexis Butterworths)
the company pays payroll obligations on february 4th. record the payroll obligations of february and write the journal
benson remanufacturing rebuilds spot welders for manufacturers. the following budgeted cost data for 2011 is available
Taking a look at the full disclosure principle: what does this mean for an organization, specifically, when put into action? Provide an example.
Identify and describe the three tools of financial statement analysis.Perform each of the three types of analysis on Schellhammer's current assets.
poppycrock inc. manufactures large crates of microwaveable popcorn that are typically sold to distributors. its main
Compute net cash provided by operating activities using the indirect method, assuming that net income is $186,000.
Williams Company's direct labor cost is 25% of its conversion cost. If the Manufacturing overhead cost for the last period was $45,000 and the direct materials cost was $25,000, the direct labor cost was:
sky king company sold 9 million of four- year 8 debentureson july 1 2007. the bonds sold to yield a real rate of
The ending inventory balance of $412,000 included $43,000 ofconsigned inventory for which Gotham was the consignee. Based on this information, the correct balance for ending inventory on December 31 is:
Avis's taxable income for the year is $300,000 and Best's taxable income for the year is $425,000. For each of the scenarios provided, (a) state if a control group has been created and, if so, define the controlled and (b) compute the combined tax..
What amount of Bad Debt Expense would the company record as an end-of-period adjustment?
the chs company has provided the following information bull accounts receivable written-off as uncollectible during
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd