User Account

All Pages

How does an auditor test the quantity

Assignment Help Accounting Basics
Reference no: EM132574386

Question 1: How does an auditor test the quantity? Please explain two directions of inventory test counts performed in a physical inventory observation, including which assertions they help to achieve/prove.

Question 2: How does an auditor test the price, what type of supporting documentation would an auditor request from a client to be able to perform such tests?

Question 3: What other audit procedures besides price and quantity testing would help in testing for a valuation assertion?

Question 4: Would any other Information be helpful in aiding the auditor during the audit of inventory?

Reference no: EM132574386

Questions Cloud

Discuss the top information systems used in business today : In 175 words or more discuss the top information systems used in business today. What do these information systems have in common?
Prepare journal entries if related to martinez deprecition : Prepare the 2017 journal entries, if any, related to Martinez's depreciable assets. (Credit account titles are automatically indented when amount is entered)
Purchasing and supply management professional : Interview a Purchasing and Supply Management Professional Interview a purchasing and supply management professional in a private
What is the relationship between qa-qc and risk management : Data sustains an organizations business processes and enables it to deliver products and services. Stop the flow of data and for many companies, business comes.
How does an auditor test the quantity : How does an auditor test the price, what type of supporting documentation would an auditor request from a client to be able to perform such tests?
Prepare a flowchart for handling an online registration : Karen Adams, a former student at the local college, has been expanding her business, Great Day Fitness Tracking, in the college's business incubator.
Calculate net income to be reported in buffalo comparative : Calculate net income to be reported in Buffalo's comparative income statements for the years 2015 to 2018.In early 2018, Buffalo Co.
WEL301A Community development Assignment : WEL301A Community development Assignment Help and Solution, Jansen Newman Institute - Assessment Writing Service - draw on values underpinning an ethos
Demonstrate the cost of the ending inventory under the fifo : Demonstrate the cost of the ending inventory under the FIFO method and LIFO method. Bethke uses a periodic inventory system.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Differentiate restricted funds in nonprofits and governments

Differentiate between accounting for restricted funds in nonprofits and governments. Examine some of the possible reasons GASB issued statement 54 clarifying the reporting and classification of funds for governmental accounting.

  Compute the weighted average accumulated expenditure

Other general debt existing on January 1, 2004 and issued in 2004 at par was $500,000, Compute the weighted average accumulated expenditure

  Discuss appropriate journal entries that would be necessary

Record the appropriate journal entries that would be necessary for Jeffrey Co. Refer to the Chart of Accounts for exact wording of account titles

  Lila battle has determined that the annual demand for

lila battle has determined that the annual demand for number 6 screws. lila who works in her brothers hardware store is

  Michelle amp alexus inc had the following items on their

michelle amp alexus inc. had the following items on their 123107 balance sheet cash

  Compute the company new return on investment

Hardcastle Ltd. had sales of $3 000 000 and net operating income of $900 000. If the new machine is purchased, the company's new return on investment

  What is the materials price variance for the period

During a recent period the company produced 1,200 units of product. What is the materials price variance for the period

  Accounts receivable arising from trade transactions

accounts receivable arising from trade transactions amounted to 44000 and 53000 at the beginning and end of the year

  Falquez company sells three products r s and t data for

falquez company sells three products r s and t. data for activity of falquez company during july are as follows

  Calculate the budgeted beginning balance in units

Calculate the budgeted beginning balance in units for finished goods inventory on November

  What is the amount that will be included in jack net income

No further payments were made. What is the amount that will be included in Jack's Net Income For Tax Purposes for the current year

  At what settle price will you get a demand for funds

You enter into a futures contract to sell €125,000 at $1.51 per euro. At what settle price will you get a demand for additional funds

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd