Inventory and warehousing and cash cycle tests of controls

inventory and warehousing and cash cycle tests of controls Audit of the inventory and warehousing cycle slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising if you continue browsing the site, you agree to the use of cookies on this website.

Inventory is a large part of the auditing process for companies with physical goods inventory is a substantial portion of total assets for many companies in addition, there are many complex accounting issues surrounding the topic of inventory valuation companies have a temptation to overstate inventory and thus overstate assets. Design tests of controls, substantive tests of transactions, and analytical procedures for the following apollo shoes cycles: o inventory and warehousing cycle o cash cycle 1 abstract, inventory and warehousing cycle (tests of controls) yolanda 2 intro, inventory and warehousing (substantive tests of transaction) amy 3. Audit of the inventory and warehousing cycle chapter 21 ©2012 prentice hall business publishing, design tests of controls and substantive tests of transactions for the cost accounting system inventory tests.

Describe the business functions and the related documents and records in the inventory and warehousing cycle explain the five parts of the audit of the inventory and warehousing cycle design and perform audit tests of cost accounting apply analytical procedures to the accounts in the inventory and warehousing cycle. Inventory layers if you are using a fifo or lifo inventory valuation system, the auditors will test the inventory layers that you have recorded to verify that they are valid if the company uses cycle counts instead of a physical count, the auditors can still use the procedures related to a physical count they simply do so during one or more cycle counts, and can do so at any time there is no need to only observe a cycle count that occurs at the end of the reporting period.

Design tests of controls, substantive tests of transactions, and analytical procedures for the following apollo shoes cycles: o inventory and warehousing cycle o cash cycle 1 abstract, inventory and warehousing cycle ( tests of controls ) yolanda 2.

Inventory and warehousing and cash cycle tests of controls

Learning objectives after studying this chapter, students should be able to: describe the business functions and the related documents and records in the inventory and warehousing cycle. 8) the inventory and warehousing cycle can be thought of as having two separate but closely related systems, one involving the actual physical flow of goods, and the other the: a) related costs b) storage of the goods c) internal control over those goods d) prevention of waste, obsolescence, and theft.

3) internal controls over the ship finished goods function in the inventory and warehousing cycle are not normally tested by the auditor as a part of performing tests of controls and substantive tests of transactions in the sales and collection cycle.

inventory and warehousing and cash cycle tests of controls Audit of the inventory and warehousing cycle slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising if you continue browsing the site, you agree to the use of cookies on this website. inventory and warehousing and cash cycle tests of controls Audit of the inventory and warehousing cycle slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising if you continue browsing the site, you agree to the use of cookies on this website. inventory and warehousing and cash cycle tests of controls Audit of the inventory and warehousing cycle slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising if you continue browsing the site, you agree to the use of cookies on this website. inventory and warehousing and cash cycle tests of controls Audit of the inventory and warehousing cycle slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising if you continue browsing the site, you agree to the use of cookies on this website.
Inventory and warehousing and cash cycle tests of controls
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