Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1.As part of the June 30, 2013, audit of accounts payable of Milner Products Company, the auditor sent 22 confirmations of accounts payable to vendors in the form of requests for statements. Four of the statements were not returned by the vendors, and five vendors reported balances different from the amounts recorded in Milner's accounts payable master file. The auditor made duplicate copies of the five vendors' statements to maintain control of the independent information and turned the originals over to the client's accounts payable clerk to reconcile the differences. Two days later, the clerk returned the five statements to the auditor with the information on the audit schedule following part c.
a. Evaluate the acceptability of having the client perform the reconciliations, assuming that the auditor intends to perform adequate additional tests.b. Describe the additional tests that should be performed for each of the five statements that included differences.c. What audit procedures should be performed for the nonresponses to the confirmationrequests?
Outline the critical steps inherent in planning an audit and designing an effective audit program. Based upon the type of company selected, provide specific details of the actions that the company should undertake during planning and designing ..
Describe a common-size financial statement. Explain how one is prepared. Explain what a common-size financial statement report communicates about a company.
Audit risk is a key consideration and guide to planning an audit - explain why and list the key components of the Audit Risk Model (ARM) and discuss how they interact?
What are several conditions that may lead to fraud? To what type of fraud may these conditions lead? Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.
Compute price and usage variances for direct materials, compute the direct labor rate and labor efficiency variances and compute the fixed overhead spending and volume variances. Intercept the volume variance.
Discuss the factors you would consider in determining whether to obtain audit evidence from manual controls and automated application controls, rather than solely from substantive audit procedures
General Audit Procedures and Financial Statement Assertions. The eight general audit procedures produce evidence about the principal management assertions in financial statements.
One aspect of the ZZZ Best Case focused on client acceptance and the predecessor-successor auditor relationship. Integrate this article with the case and discuss how this has impacted the current Audit environment
Consider a health care organization with which you are familiar with and explain the difference between cash and accrual accounting in health care setting. Be sure to include a discussion of the revenue recognition and matching principles.
What is the two-tier test used to determine if a fixed asset has suffered impairment and to calculate the amount of the impairment loss?
question the final report that john wants you to prepare for him is for the audit client malos ojos limited mo who
Should rent new equipment and continue to make its subassemblies internally, or whether it should discontinue production of its subassemblies and buy them from an outside supplier.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd