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28 Cards in this Set
- Front
- Back
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Vouch shipping documents to sales invoices and journal entries
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revenue cycle; completeness
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Vouch recorded payables to documentation
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payables/purchases cycle; rights/obligations
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Vouch additions and disposals
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PPE cycle; valuation/allocation
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Trace subsequent cash receipts
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revenue cycle; valuation/allocation
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Inquiries of management: revenue cycle?
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rights/obligations
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Inquiries of mgmt: cash cycle
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presentation/disclosure
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Inquiries of mgmt: payables/purchases cycle
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rights/obligations
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Inquiries of mgmt: inventory cycle
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presentation/disclosure (consigned goods, pledging, commitments) and valuation/allocation (obsolete, excess inventory)
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Inquiries of mgmt: PPE cycle
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presentation/disclosure
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Obtain management representation letter
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presentation/disclosure always
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Analytical procedures normally completeness except when?
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inventory cycle; completeness and valuation/allocation
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Reconciliation normally completeness except when?
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payables/purchases cycle: completeness and existence/occurrence for vendor stmts to accounts
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Purchases and sales cutoff tests: inventory cycle:
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completeness
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Inventory cutoff tests: inventory cycle:
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existence/occurrence
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Test additions and disposals cutoff:
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PPE cycle: existence/occurrence
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Track cash receipts to client bank accounts
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revenue cycle; rights/obligatios
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Confirm A/R
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existence
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Cash cycle: few tests in what assertion?
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rights/obligations
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Payables/Purchases cycle: few tests where?
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valuation/allocation
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Determine restricted cash reported as noncurrent asset
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cash cycle: presentation/disclosure
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Search for unrecorded payables
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payables/purchases cycle: completeness
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Review A/P for material debits, long term payables, and nontrade payables
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payables/purchases cycle: presentation/disclosure
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Review payables for items affected by cash discounts:
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payables/purchases cycle: valuation/allocation
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Review contracts or vendor statements for purchase commitments
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payables/purchases cycle: presentation/disclosure
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Consider and review industry practices for consigned goods
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inventory cycle: rights/obligations
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Compare recorded costs to current replacement costs
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inventory cycle: existence/occurrence
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Analyze repairs and maintenance
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PPE cycle: completeness
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Test depreciation
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PPE cycle: completeness
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