User Account

All Pages

Identified and state the type and quality of audit evidence

Assignment Help Financial Accounting
Reference no: EM132483348

Question 1: For the following three specific audit procedures (a through d) perform the following: State the specific audit assertion associated with the audit procedure. For each specific audit assertion identified, state the type and quality of audit evidence required (low, medium or high). Explain why the evidence is the quality level you specify.

a) The auditor compared current year's revenue to the budgeted revenue.

b) The auditor selected a sample of deposits from the bank statements and compared the dates of deposits with dates in the cash receipts journal.

c) The auditor discussed with the client the approach taken to estimate an asset impairment charge.

d) Account for a sequence of sales receipts.

Reference no: EM132483348

Questions Cloud

What would say to current dishwashing employees : Determine what would you say to your current dishwashing employees if in the future Wayne shared his pay information with them?
What is the standard deviation : It is estimated that 10% of those taking the quantitative methods portion of the certified public accountant (CPA) examination fail that section.
What health issues better addressed by a nursing care staff : Mandatory: Make sure that you include the following. What health issues may be better addressed by a nursing care staff with knowledge about religious diversity
What is the test statistic for a sample proportion : To test HO: p = 0.400, What is the test statistic for a sample proportion 0.428 and sample size 25. Enter your answer with 3 decimal places
Identified and state the type and quality of audit evidence : Identified, state the type and quality of audit evidence required (low, medium or high). Explain why the evidence is the quality level you specify
How does additional body weight affect physical status : How does additional body weight affect physical status? What are some of the barriers and challenges to losing weight in the U.S.?
Describe the national healthcare issue you selected : Describe the national healthcare issue/stressor you selected and its impact on your organization. Use organizational data to quantify the impact.
Estimate the number of customers in the sample : Estimate the number of customers in the sample who order their food to go by giving the mean of the relevant distribution
Compute the april inventory and the april cost of goods : Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Whispering Company uses a periodic inventory system

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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