Reference no: EM132392712
Assignment: 1. Auditors document their control risk assessments with narratives, flowcharts and checklists. Explain and give an example of narratives, flowcharts and checklists.
2. Explain what an audit program is. How is it used before, during and after the audit? Listen to the following YouTube about audit programs, if possible: Using Audit Program Templates (By AuditNet).
3. REA Diagram: REA Diagram using Visio, Excel, or Word
James Company purchases pipes and fittings from a variety of vendors, both wholesalers and manufacturers. All vendors must be approved before a purchase order can be placed with a particular vendor. Only employees classified as purchase agents have authority to place purchase orders. James tracks inventory by a unique inventory item number. When merchandise received at the receiving dock is processed, only one receiving clerk counts the inventory items and records which items were received and enters quantities on the receiving report.
Create an REA diagram for James Corporation's expenditure cycle as described above. Be sure to include all relevant entities, relationships, attributes, key attributes, and car-dinalities (no need to do participation cardinalities).
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How can a future crisis be prevented
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What is the price of the bond
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Explain what an audit program is
: Explain what an audit program is. How is it used before, during and after the audit? Listen to the following YouTube about audit programs, if possible.
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Calculate the interest expense for 2017
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Maintain the machine over the course
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Describe how the insurance is paid for
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Accounts receivable as shown on the balance sheet
: The average collection period is 32 days. What is the average investment in accounts receivable as shown on the balance sheet?
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