ACCT 3222 Chapter 13_ Auditing
ACCT
Cash3222
& Inventory
Chapter–
13_Accounting
Auditing
ACCT
Cash
Exam
3222
& Study
Inventory
Chapter
Guide.pdf
–
13_Accounting
Auditing Cash
Exam& Study
Inventory
Guide.pdf
– Accounting Exam Study Guide.pdf
ACCT 3222 Chapter 13: Auditing Cash &
Inventory – Accounting Exam Study
Guide
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
ACCT 3222 Chapter 13_ Auditing
ACCT
Cash3222
& Inventory
Chapter–
13_Accounting
Auditing
ACCT
Cash
Exam
3222
& Study
Inventory
Chapter
Guide.pdf
–
13_Accounting
Auditing Cash
Exam& Study
Inventory
Guide.pdf
– Accounting Exam Study Guide.pdf
,ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
All What is the relevant assertion(s)?
Initial Procedures:
1. Obtain an understanding of the business
and industry to determine:
a. The significance of cash balances and
transactions to the entity
b. The entity's policies for maintaining
minimum cash balances, forecasting cash
balances, and investing surplus cash
ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
,ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
Accuracy, Valuation, and What is the relevant assertion(s)?
Allocation Initial Procedures:
2. Perform initial procedures on cash
balances and records that will be subjected
to further testing
a. Trace beginning balance for cash on hand
and in bank to the prior year's working
papers
b. Scan activity in general ledger accounts
for cash and investigate entries that appear
unusual in amount or source
c. Obtain client-prepared schedules of bank
balances, recalculate to verify mathematical
ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
, ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
accuracy, and determine agreement with
general ledger
All What is the relevant assertion(s)?
Analytical Procedures
3. Perform analytical procedures
a. Compare cash balances with budgeted
amounts, prior year's balances, or other
expected amounts
b. Calculate cash as a percent of total assets
and compare with auditor expectations
ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
ACCT
Cash3222
& Inventory
Chapter–
13_Accounting
Auditing
ACCT
Cash
Exam
3222
& Study
Inventory
Chapter
Guide.pdf
–
13_Accounting
Auditing Cash
Exam& Study
Inventory
Guide.pdf
– Accounting Exam Study Guide.pdf
ACCT 3222 Chapter 13: Auditing Cash &
Inventory – Accounting Exam Study
Guide
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
ACCT 3222 Chapter 13_ Auditing
ACCT
Cash3222
& Inventory
Chapter–
13_Accounting
Auditing
ACCT
Cash
Exam
3222
& Study
Inventory
Chapter
Guide.pdf
–
13_Accounting
Auditing Cash
Exam& Study
Inventory
Guide.pdf
– Accounting Exam Study Guide.pdf
,ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
All What is the relevant assertion(s)?
Initial Procedures:
1. Obtain an understanding of the business
and industry to determine:
a. The significance of cash balances and
transactions to the entity
b. The entity's policies for maintaining
minimum cash balances, forecasting cash
balances, and investing surplus cash
ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
,ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
Accuracy, Valuation, and What is the relevant assertion(s)?
Allocation Initial Procedures:
2. Perform initial procedures on cash
balances and records that will be subjected
to further testing
a. Trace beginning balance for cash on hand
and in bank to the prior year's working
papers
b. Scan activity in general ledger accounts
for cash and investigate entries that appear
unusual in amount or source
c. Obtain client-prepared schedules of bank
balances, recalculate to verify mathematical
ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
, ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
accuracy, and determine agreement with
general ledger
All What is the relevant assertion(s)?
Analytical Procedures
3. Perform analytical procedures
a. Compare cash balances with budgeted
amounts, prior year's balances, or other
expected amounts
b. Calculate cash as a percent of total assets
and compare with auditor expectations
ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf ACCT 3222 Ch. 13 Auditing Cash and Inventory.pdf
