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!
Detail work on stocks - Audit of Current Assets
Detail work on stocks is imperative in an audit, since there are other review tests that are equally important and these include:
a) Quantity reconciliation of changes in stocks at successive period ends along with records of movements that are issues and receipts.
b) Comparison of quantities of every kind of stock held in one year end along with those held on a previous year end and the related issues and receipts.
c) The gross profit ratio is compared to that of the previous year, other companies and budget.
d) Review of rate of stock turnover along with previous year.
e) Comparison of stock pictures and budgets for stocks, purchases and sales.
f) Consideration of standard costing records, the treatment of variances in such the valuation of work and stocks in progress.
Question: "The planning, testing, and evaluation of audit evidence for indicia of fraud are unlikely to be successful without that attitude, particularly because fraud is a cri
Companies Modes of Operation Some companies (especially small ones) operate without any overtly expressed plan and simply carry out the business as always, responding to market
Fraudulent financial reporting Involves intentional misstatements or errors of amounts or disclosures in financial statements to mislead financial statement users. Fraudulent f
The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has b
Research and Development - Audit Process The past of business is littered along with cases of companies which have collapsed as a convulsion of over indulgence in discover and
Capital allowances vs. Depreciation Whether the client can prove such they will keep the existing levels of investment in original terms, then there may be justification to ac
Techniques of Obtaining Evidence ISA 500 mentions them as such: Inspection of documents or records, Inspection of tangible assets, Observation, Inq
Responsibilities of the Auditor The Auditor has no duty for the prevention and recognition of fraud and error though the annual audit might act as a restraint. As explained
Final Review of the Financial Statements The work we have considered so far has shown which the auditor first gathers facts that the enterprise and the environment it operates
What is business risk and what controls should organizations have in place? Business Risk and Controls Business or operational risks related to the activities carried out
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd