How is auditing a balance sheet account with low activity

Reference no: EM133506337

Question: How is auditing a balance sheet account with low activity (EX: Property Palnt & Equipment) different from auditing high turnover accounts (EX: Accounts Receivable)?

1) When auditing the Property Palnt & Equipment why is evaluating whether an expense extends the life of PP&E important?

2) When auditing Long-Term Debt and Equity- why do auditors read the Board of Director Minutes?

Reference no: EM133506337

Questions Cloud

Which cost flow method results in the highest inventory : Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement?

What leadership trait do see between yourself and supervisor : What leadership traits do you see between yourself, your coworkers and your supervisor? Refer to specific leadership traits discussed in required Smith article.

Look for a situation where you identified an efficiency gain : SITXMGT001 Monitor work operations, Clayton College - demonstrate your skills and knowledge by overseeing and monitoring the quality of day-to-day work

Inventory management at westa petroleum services : Using the Case Exhibit 3, set up a model for minimum and maximum inventory levels for Westa Petroleum Services (WPS).

How is auditing a balance sheet account with low activity : How is auditing a balance sheet account with low activity (EX: Property Palnt & Equipment) different from auditing high turnover accounts

Evaluate them in terms of service quality : Select two fast food restaurants and evaluate them in terms of service quality. Suggest ways to improve the service quality.

Proposed recruitment plan to fill the managerial position : Priorities and steps to mitigate the impact of your employee's rapid departure. A proposed recruitment plan to fill the managerial position.

Determine what assertions would be at risk : Explain all the accounts that are at risk of material misstatement in the financial statements for the auditors to test. For each account

Ethical and legal communications : In the field of communication when it comes to ethical and legal communications, do mainstream news providers act according to ethical principles most of time?

User Account

All Pages