Determine the analytical procedures of auditors, Financial Management

Assignment Help:

Analytical procedures of auditors

Auditors must apply analytical procedures at the planning and overall review stage of audit.

Analytical procedures include the consideration of comparisons of entity's financial information with, for illustration:

  • Comparable information for prior periods.
  • Anticipated results of the entity, from forecasts orbudgets.
  • Predictive estimates prepared by the auditors, like estimation of depreciation charge for the year end.
  • Similar industry information, like comparison of the entity's ratio of sales to trade debtors with industry averages, or with ratios relating to other entities of comparable size in same industry.
  • Between financial information and relevant non-financial information, like relationship of payroll costs to number of employees.

 


Related Discussions:- Determine the analytical procedures of auditors

Stream of expected returns, Stream of Expected Returns Investment retur...

Stream of Expected Returns Investment returns can take many forms. An investor must consider all these forms to evaluate an investment option accurately. A brief description of

Futures contract, Futures Contract It is an obligation to purchase or s...

Futures Contract It is an obligation to purchase or sell an asset at an agreed-upon price on an exact future date. The buyer commits himself or herself to buy the asset, and th

Define double-entry bookkeeping, Q. Define Double-Entry Bookkeeping? Do...

Q. Define Double-Entry Bookkeeping? Double-Entry Bookkeeping - Method of recording financial transactions in that every transaction is entered in two or more accounts and inclu

Accounting rate of return (arr), Accounting Rate of Return (ARR): This ...

Accounting Rate of Return (ARR): This technique relies on the rate of return every project will earn over its life. It takes the help of accounting profit while calculating the

Leverages, Leverages 'Leverages' are of prime importance in the analysi...

Leverages 'Leverages' are of prime importance in the analysis of a companies' risk. They give a good picture of the business, financial and the overall risk of a company's oper

Computation of working capital, Will you please define the working capital ...

Will you please define the working capital and Calculation of working capital? I need urgent help in my assignment. help me!

DIVIDEND DECISION, WHAT ARE THE IMPORTANCE OF DIVIDEND DECISION IN FINANACI...

WHAT ARE THE IMPORTANCE OF DIVIDEND DECISION IN FINANACIAL MANAGEMENT?

Social assistance program for the elderly, Social Assistance Program for th...

Social Assistance Program for the Elderly For the elderly destitutes, the Central and many State Governments have designed several social assistance programs. Under the nationa

Agency policy theorem, How might management try to solve the problems foun...

How might management try to solve the problems found in agency theorem

Functions of finance financial management, Q. Explain Functions of Finance ...

Q. Explain Functions of Finance Financial Management? Functions of Finance or else Financial Management: - The functions of Financial Management are: (1) Determining the Fin

Write Your Message!

Captcha
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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd