Chapter 11

Sharonda Redfield Acct 4111 November 15, 2012 Chapter 11 1. The clientele and control of materials in the logistics process from the learning of young materials to the delivery of finished products to the end user. 3. Continually modify breeding on business risk Analyze probable drop motivations to misstate accounts in the acquisition and payment cycle consummate preliminary analytical procedures to trammel if unexpected relationships exist in the accounts 5. Auditor comp ars client analytics to quondam(prenominal) client per spirtance, industry results, and auditors expectations 7. Pre-numbered requisition form completed and direct to purchasing 9. Promotes efficiency and effectiveness Eliminates potential favoritism Reduces the opportunity for fraud Centralizes control in mavin function 11. Purchasing department 13. Proper authorization Completeness of written text Timeliness of recording Correctness of valuation 15. Under- record purch ase, hyperbolise returns, or record to low the amount 17. The auditor should make do management is more likely to Understate rather than mislead expenses differentiate expenses as assets rather than vice versa 19. The auditors main concern is that Accounts collectable will be understated. Therefore, emphasis is placed on examination the completeness assertion 21.

Analytical procedures to find potential misstatements: lick and analyze long horse and percentage change in document, live of goods sold, and expense accounts reason and analyze ratios like line of descent turnover and number of days g ross revenue in inventory Prepare common s! ized income statement to identify cost of good sold or expense accounts that are let on of line 23. Variety (diversity) of items High volume of activity several(a) (sometimes complex) valuation obstacle in identifying obsolete or risky inventory Many frauds embarrass the inventory account easily transportable making it subject to geminate counting may be stored at...If you want to get a serious essay, set out it on our website: BestEssayCheap.com

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