Solution-What is meant by proof of cash receipt and state

What is meant by proof of cash receipt and state its purpose

Assignment Help Auditing

Reference no: EM131574671

Discussion Questions- Auditing Class

Please answer the following 6 discussion questions inatleast 100 words perquestion. Do not answer them as an essay. Please answer them under the question set.

1. Under what circumstances is it acceptable to perform tests of controls and substantive tests of transactions for sales and cash receipts at an interim date?

2. Define what is meant by alternative procedures in the confirmation of accounts receivable and explain their purpose. Which alternative procedures are the most reliable? Why?

3. List several audit procedures that the auditor can use to determine whether all cash received was recorded.

4. Explain what is meant by a proof of cash receipts and state its purpose.

5. Describe what is meant by a cutoff bank statement and state its purpose.

6. Briefly explain why accounting standards related to fair value estimates make the audit of financial instruments more complex.

Reference no: EM131574671

Questions Cloud

Explore at least two types of businesses that would benefit : Explore at least two types of businesses that would benefit by preparing financial statements using either the cash or accrual basis of accounting.

Describe the major points of the given article : The summary should describe the major points of the article, and the reaction should demonstrate your interpretation of the article.

Describe three national infrastructures : Suggest two (2) ways that the use of an integrated delivery system improves the quality of patient services. Justify your response.

Define the term price elasticity of demand : Define the term "Price Elasticity of Demand." Calculate the price elasticity of demand for good A in the price range given

What is meant by proof of cash receipt and state its purpose : Explain what is meant by a proof of cash receipts and state its purpose. Describe what is meant by a cutoff bank statement and state its purpose.

Calculate the elasticity of demand : They raise the price to $4.50 and sell 170 each day. Calculate the elasticity of demand and explain if they should maintain the new price or change it

Show the payoffs at the end of each branch of the tree : If you protest (initiate an argument), the rules of the game specify that he has to let you take the space. Show the payoffs at the end of each branch of tree

How might these methodological considerations affect : How might these methodological considerations affect the research findings and the conclusions drawn from them

Solution of the linear differential equation : The sum of the Residues of the complex function - The solution of the linear differential equation

User Account

All Pages

What is meant by proof of cash receipt and state its purpose

Reference no: EM131574671

Reference no: EM131574671

Questions Cloud

Reviews

Write a Review

Auditing Questions & Answers

Internal audit

Accounting professional and ethical standards

Prepare swag''s consolidated balance sheet

Auditing and assurance

State of the company’s industry and associated risk factors

Prepare a memo to the audit partner

Adjusting or non- adjusting events

Audit financial data

Identify principal audit risk

Auditing and assurance

National health reform

Prepare a memo on the state of the company''s industry

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT