CHAPTER 15 Completing the Audit LEARNING OBJECTIVES 1 2 3 4 5 6 7 8 Describe the balance sheet account groups that the major revenue and expense accounts are associated with‚ and the substantive analytical procedures applied to audit revenues and expenses. Outline the overall analytical procedures to be performed at the final stage of the audit‚ including analysis of the income statement‚ the cash flow statement‚ financial statement presentation and disclosures
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AUDITING CHAPTER-HEADS Chapter 1 : INTRODUCTION Chapter 2 : TYPES OF AUDIT Chapter 3 : INTERNAL CONTROL AND INTERNAL CHECK Chapter 4 : VOUCHING AND VERIFICATION Chapter 5 : AUDIT PLANNING AND DOCUMENTATION Chapter 6 : COMPANY AUDITOR Chapter 7 : COMPANY AUDIT Chapter 8 : TYPES OF REPORT UNIT 1 INTRODUCTION Q1. Define an ‘Audit’ and state the various objects of an audit. Or ‘Two main objects
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ORDER BY PART.ITEMCLSS‚ PART.PARTNUMB Query1 | PARTNUMB | PARTDESC | ITEMCLSS | WRHSNUMB | UNITPRCE | BT04 | STOVE | AP | 2 | $402.99 | BZ66 | WASHER | AP | 3 | $311.95 | AX12 | IRON | HW | 3 | $17.95 | BH22 | TOASTER | HW | 3 | $34.95 | CA14 | SKILLET | HW | 3 | $19.95 | CX11 | MIXER | HW | 3 | $57.95 | AZ52 | SKATES | SG | 2 | $24.95 | BA74 | BASEBALL | SG | 1 | $4.95 | CB03 | BIKE | SG | 1 | $187.50 | CZ81 | WEIGHTS | SG | 2 | $108.99 | 5. SELECT SUM(BALANCE) AS TOTAL
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accordance with an identified financial reporting framework. An auditor is setting out to achieve enhanced credibility of information disclosed to increase reliability for the users of the financial statements. A definition from the Committee on Basic Auditing is as follows: A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating
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Auditing – acc546 (3 credits) In this course‚ students focus on the auditing practice performed by public accountants. Topics include the CPA profession and the auditor’s role‚ planning the audit‚ audit reporting and required communications‚ evaluating internal controls‚ audit programs for current assets and liabilities‚ and audit programs for other business cycles. This graduate-level course is 6 weeks. To enroll‚ speak with an Enrollment Advisor. Topics and Objectives The CPA Profession
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Advanced Reservoir Engineering HW# 7- Solution Problem Statement The following Draw down test has been performed in a cylindrical reservoir assumed to have a drainage area equal to 5‚760‚000 sqft and the following data: Table 1: Reservoir Data Q h rw 90 stb/d 23 ft 0.401 ft φ μ ct B 0.14 1.5 cp 1.6 E-6 1/psi 1.15 Rb/stb 1. 2. 3. 4. Estimate Permeability Estimate the Skin factor S Estimate pressure drop due to skin Estimate flow efficiency Solution Part 1 In a drawdown test‚
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5(a) Prepare a memo to the partner making a recommendation as to whether Barnes and Fischer should or should not accept Ocean Manufacturing‚ Inc. as an audit client. Carefully justify your position in light of the information in the case. Include consideration of reasons both for and against acceptance and be sure to address both financial and nonfinancial issues to justify your recommendation. MEMORANDUM To: Jane Hunter From: Corrine Subject: Ocean Manufactory Should be Accepted Date:
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AUDIT TECHNIQUES I. NATURE and PURPOSE of AUDIT TECHNIQUES Auditing Techniques are the basic tools utilized by auditors to obtain audit evidences. Auditing Technique is defined as any technique as any technique used to determine deviations from actual accounting and controls established by a business or organization as well as uncovering problems in established processes and controls. Auditing Techniques can be used to aid organizations by uncovering errors in business practices and providing
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a) The Report’s main points The report identifies the complexities that exist within the economic paradigms with relations to uncertainties and economic instability that have characterized the markets and businesses at large. The report analyzes the imperatives of organizations identifying efficient approaches to governance‚ risk and compliance (GRC). This is a sensitization on the part of various business organizations and entities about business environment that involves a number of risks and
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1. a. To the Board of Directors and Shareholders of L Inc.: We have audited L Inc.’s internal control over financial reporting as of December 31‚ 2012‚ based on control criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of Treadway Commission (COSO). L Inc.’s management is responsible for maintaining effective internal control over financial reporting‚ and for its assessment of the effectiveness of internal control over financial
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