which exceeds materiality of $50‚000. c. The auditor should either propose an audit adjustment so that the unadjusted statement amount is less than materiality‚ and/or perform more testing to obtain a better estimate of the population misstatements. The additional testing will likely focus on receivables and inventory because they have the largest estimated misstatements. 9-28 a. The following terms are audit planning decisions requiring professional judgment: Preliminary judgment about materiality
Premium Auditing Risk Financial audit
Start • Click Computer • Double-click your student folder (the one with your login name) • Right-click in the window‚ and click “New” • Click “Folder” • Name this folder IBCA. You should now open Microsoft Word. • Click Start • Click All Programs • Find the Microsoft Office folder and click it • Click Microsoft Word 2010 • If any windows pop up concerning setting options‚ click “Use Recommended Settings” and then okay When you are ready to type in MS Word‚ put your name on the first
Free Microsoft Word Microsoft Microsoft Office
Beginning the Audit Report Peter Serunjoji ACC546 January 15‚ 2012 Arlette Peoples Beginning the Audit Report MEMORANDUM TO: Larry Lancaster‚ Chairman‚ President‚ and CEO of Apollo Shoes‚ Inc. FROM: Matrix Certified Public Accountants (MCPA) Inc.‚ DATE: January 15 2012 SUBJECT: Beginning the Audit Report (Engagement letter‚ Engagement checklist‚ Outline of timeframes and milestones of the audit) Dear Mr. Lancaster‚ This letter is to confirm the
Premium Audit Auditing Financial statements
Study Guide Apollo Shoes Case Study Guide www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-491-week-4-team-assignment-apollo-shoes-case-assignment-7/ Instantly Download! Get Better Grades in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: TUTORIAL: This tutorial includes 12 pages of questions with solutions. A+++ WORK! ACC 491 Week 4 Learning Team Assignment Apollo Shoes Case Assignment Resources: Apollo Shoes Case Materials
Premium Internal control Study skills Scientific method
Beginning the Audit Report Kimberly Cummings ACC/546 January 19‚ 2015 Jacob Mathews Beginning the Audit Report MEMORANDUM January 19‚ 2015 To: Senior Partner From: Kim Cummings Re: Apollo Shoes Audit Dear Senior Partner: As you know‚ our firm has been selected to perform the Apollo Shoes audit. The planning process has been the most delicate stage as we want to ensure we have a solid audit approach. The team I select will be dedicated in meeting the objectives and strategies for completing the
Premium Audit Auditing Internal control
CASE SUMMARY Jim Wells‚ owner of Wells Work and Casual Wear plan to establish a new business that focus on selling shoes for Moos. The main objective of the new business is to design a special shoe for cow that can improve the recovery rate of infected hoof by protecting the hoof from moisture and dirt on the ground. The next step would be finding the best way to introduce and market their new product. Currently there are only two competitors on the market who provide similar product for treating
Premium Marketing
expectations for revenue accounts Recognize factors that lead to precise expectations of account balances Appreciate the degree of professional judgment involved in evaluating differences between expected and reported account balances Understand the audit planning implications of using analytical procedures as substantive tests of account balances Burlington Bees‚ an independent‚ minor league baseball team‚ competes in the North-west Coast League. The team finished in second place in 200X with
Premium Financial audit Auditing Revenue
How Do You Effectively Engage Students in Learning? Topic: Student Engagement I. Activity The students will be grouped into four. Each group will be given a brown envelope enclosed with jumbled letters. Students will form words out of the jumbled letters and write it on the board. II. Discussion Activating Strategies- activate student’s prior knowledge through the use of engaging strategies designed to focus learning. * Carousel Brainstorming- students will rotate around the
Premium Learning Knowledge Concept
Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms‚ establishing standards for audit engagements‚ and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing
Premium Auditing Internal control Audit
456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
Premium Accounts receivable Revenue