Reference no: EM131736908
Auditing Accounting
The following are commonly performed tests of controls and substantive tests of transactions audit procedures in the sales and collection cycle
1. Account for a sequence of shipping documents and examine each one to make sure that a duplicate sales invoices is attached.
2. Account for a sequences of sales invoices and examine each one to make sure that a duplicate copy of the shipping documents is attached.
3. Compare the quantity and description of items on shipping documents with the related duplicate sales invoices
4. Trace recorded sales in the sales journal to the related accounts receivable master file and compare the customer name. date, and amount for each one.
5. Examine sales returns for approval by an authorized official.
6. Review the prelisting of cash receipts to determine whether cash is prelisted daily
7. Reconcile the recorded cash receipts on the prelisting with the cash receipts journal and bank statements for a 1-month period.
a. Identify whether each audit procedure is a test of control or a substantive test of transactions.
b. State which of the six transaction-related audit objectives each of the audit procedures fulfills.
c. Identify the type of evidence used for each audit procedures, such as inspection and observation.
Evaluate objective interconnections to broader health system
: Evaluate the objective's interconnections to the broader public health system. Describe the input, processes, output, and results related to the objective.
|
Define the sharpe ratio
: Define the Sharpe ratio. What are the problems with the Sharpe ratio as a quantitative measure of risk-adjusted return for use in performance evaluation.
|
Define the terms fraud prevention
: Define the terms fraud prevention, fraud deterrence, and fraud detection and identify issues of timing
|
Define valid exception to the npv rule
: What do people mean when they say that option theory is an exception to the NPV rule? Do you agree that this is truly a valid exception to the NPV rule?
|
Identify the type of evidence used for each audit procedures
: Identify the type of evidence used for each audit procedures, such as inspection and observation
|
What is the present value of the future cash inflows
: If the discount rate is 6%, what is the present value of the future cash inflows
|
Identify historical event comparable to your articles issue
: Identify an historical event comparable to your article's economic issue and how that incident impacted the daily life (work, home, and recreation) of the time.
|
What is the basis of her stock in je corporation
: The JE stock has a fair market value of $360,000. What is the amount of Ellen's gain or loss recognized on the transfer
|
Explain how the option model of land valuation derives
: Explain how the option model of land valuation derives from the principle of equal expected risk premiums per unit of risk across different investment assets.
|