Compare recorded travel expense with the budget

Reference no: EM131046960

Substantive Tests - Analytical Procedures, Balances and Transactions. Substantive tests include (1) tests of the details of transactions, (2) tests of the details of balances, and (3) analytical procedures. Listed below are several specific audit procedures.

Identify the type of substantive test - 1, 2, or 3.

A. Compare recorded travel expense with the budget.

B. Vouch entries in the check register to paid checks.

C. Recompute accrued interest payable.

D. Calculate inventory turnover ratios by product and compare with prior periods.

E. Reconcile the year-end bank account.

F. Discuss uncollectible accounts with the credit manager.

G. Count office supplies on hand at year-end.

H. Vouch entries in the sales journal to sales invoices.

I. Comparison of recorded amount of major disbursements with appropriate invoices

J. Comparison of recorded amount of major disbursements with budgeted amounts

K. Comparison of returned confirmation forms with individual accounts

[Adapted from Carmichael et al., 1996, Auditing Concepts and Methods, McGraw Hill, New York]

Reference no: EM131046960

Questions Cloud

Deceased pedestrian sues and damages : Fred has a PAP with the following coverages: Liability coverages: $100,000/$300,000/$50,000 Medical payments coverage: $5000 each person Uninsured motorists coverage: $25,000 each person Collision loss: $250 deductible Other-than-collision loss:

List the auditing procedures that you would employ : List the auditing procedures that you would employ to test the annual sales of the JaiLai Chinese Ind. Restaurant. (Disregard vending machine sales and counter sales of chewing gum and candy, and concentrate on the overall checks that would be app..

What measurement error could occur with these concepts : How could scales and indexes help with these possible errors? What are the positives and negatives of using scales or indexes? Is a scale or an index more effective to measure your concept(s)?

What are the signs and symptoms in an infected host : What are the signs and symptoms in an infected host? Give details about the disease/illness? What would be the most likely portals of entry and exit be for this pathogen? How did you come to these conclusions?

Compare recorded travel expense with the budget : Calculate inventory turnover ratios by product and compare with prior periods.

Large number of smaller projects : When there are large number of smaller projects and the activities of those projects are to be accomplished by setting up some temporary departments, the appropriate organisation structure should be?

How humans have caused the evolution of the species : For this discussion, choose a particular species that humans have "caused" to evolve. Name the species and explain how humans have caused the evolution of the species.

Determine the premiums charged for auto insurance : a. Identify the factors that determine the premiums charged for auto insurance.

Question regarding the sports marketing final : Increase sales Enhance brand image Reduce marketing costs Increase productivity GuaranteesTestimonials Company results Independent research results Feature

User Account

All Pages