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7 Cards in this Set
- Front
- Back
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Where assertion should you spend the most time testing for accrued payroll liabilities? |
Completeness |
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Why do we care about inventory transactions? |
Because each affects the I/S |
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Main assertion concern under perpetual? |
Occurrence |
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Main assertion concern under periodic? |
Completeness |
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What are the big assertions for prepaid expenses? |
Completeness and classification |
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Most important assertions for intangible assets? |
Existence (balance)/completeness(amort txn) Valuation(impairment) R+O Classification |
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Biggest assertion for new clients for PPE? |
Existence, the R+O and V+A |
