Debtors reconciliations Study guides, Study notes & Summaries

CA TC Assurance and Reporting C19 Questions & Answers Substantive Testing - ANS-Involves performing audit procedures that are designed to detect material misstatements at the assertion level When is substantive procedures normally performed? - ANS-post YE Do auditors have to perform substantive testing - ANS-Yes Examples of Source Evidence - ANS-Invoices, GD/GRNs, bank statements, calculations of depreciation/accruals/prepayments, board minutes, fixed assets, stock Missing Method - ANS-...

AUE202M The Performing of the Audit Process Auditing Theory and Practice (University of South Africa) lOMoARcPSD| 1 Assignment 1 is compulsory and due 5 th March 2010 (study guide topics 1 – 5) - counts 5% towards final module mark Assignment 2 is compulsory and due 1 st April 2010 (study guide topics 6 & 7) - counts 5% towards final module mark Assignment 3 is NOT compulsory and doesn't count towards final mark (self assessment) Exam = 2 hours, consisting of : 30% of paper is app...

Aue3702 exam pack solutions AND explained NOTES. QUESTION 2 41 marks Librarians Ltd's (Librarians) main business involves the sale of books to various book stores all over South Africa. You are the audit senior in charge of the audit for the year ended 31 December 2015. Sales Librarians uses an automated sales system. Based on your identification and assessment of risk in the planning stage of the audit of Librarians, you decided to use a combination of tests of details and substantiv...

Covers the various sections relating to Reconciliations, as per the IEB Accounting SAG. Includes notes from the textbook, as well as additional class, video and research information. Applicable to all IEB Grade 12s. Written by a 90% < student.

MAY/JUNE 2014 QUESTION 1 MULTIPLE CHOICE 1-D 2-A 3-A 4-C 5-D 6-D 7-D 8-B 9-C 10-B QUESTION 2 2.1. Weaknesses Controls Overtime hours are not approved by section head of supervisors and employees work overtime as the feel. Having to work overtime should be approved by the section head or the supervisors The security personal who mans the entrance is only in place during busy periods. Security personnel should be present at all times to ensure th...

The following notes include theory concepts relating to debtors and creditors reconciliations. Unfortunately I learnt bank reconciliations with cheques, which are no longer valid, so i am currently unable to provide notes relating to those. These notes include: Debtors: internal control, errors which may occur and how to fix them in a recon, debtor's age analysis, ways in which debtors can be charged. Creditors: Internal control, reasons why the statement and ledger might differ, Errors whic...

Exam (elaborations) ANSWER KEY TO Applied Auditing, Ma. Elenita Balatbat Cabrera, 2011 Edition Auditor’s reports are important to users of financial statements because they inform users of the auditor’s opinion as to whether or not the statements are fairly stated or whether no conclusion can be made with regard to the fairness of their presentation. Users especially look for any deviation from the wording of the standard unqualified report and the reasons and implications of such devi...

Which Objective? Confirm a sample of receivables by direct communication with the debtors ↝↝- Existence Which Objective? Review confirmations of liabilities to determine if receivables have been sold ↝↝- Right to Assets (Rights and Obligations) Which Objective? Select a sample of sales invoices in the subsequent period, and examine the related shipping documents for date of shipment to ascertain whether some of those shipments at the end of the period were inadvertently n...

ANSWER KEY TO Applied Auditing, Ma. Elenita Balatbat Cabrera, 2011 Edition Applied Auditing, ISBN: 0204 CHAPTER 1 OVERVIEW OF THE AUDIT PROCESS 1-1. Auditor’s reports are important to users of financial statements because they inform users of the auditor’s opinion as to whether or not the statements are fairly stated or whether no conclusion can be made with regard to the fairness of their presentation. Users especially look for any deviation from the wording of the standard unquali...

7.33 Revenues are normally considered to have been earned when a. All possibility of return has expired b. The company has substantially accomplished what it must to be entitled to the benefits. c. The cash is collected. d. Goods have been shipped. - answer-b. Correct The earning process is complete at this point. 7.34 Sales are normally recorded on the date of the a. Customer purchase order. b. Bill of lading. c. Sales invoice. d. Payment check - answer-c. Corr...