Chapter 11

Sharonda Redfield Acct 4111 November 15, 2012 Chapter 11 1. The concern and bid of materials in the logistics process from the acquisition of fresh materials to the delivery of finished products to the annul user. 3. Continually update engender on business risk essay potential motivations to misstate accounts in the acquisition and payment cycle discharge preliminary analytical procedures to bond certificate if unexpected relationships exist in the accounts 5. Auditor comp ars customer analytics to quondam(prenominal) client per recoilance, industry results, and tenders expectations 7. Pre-numbered requisition form completed and direct to purchasing 9. Promotes capability and effectiveness Eliminates potential favoritism Reduces the opportunity for fraud Centralizes control in ace function 11. purchasing department 13. Proper authorization Completeness of recording Timeliness of recording correctness of valuation 15. Under- record purchase, overstate returns, or record to low the amount 17. The auditor should consider management is more than likely to Understate sort of than overstate expenses differentiate expenses as assets rather than vice versa 19. The auditors of import concern is that Accounts collectable leave be understated. Therefore, emphasis is position on examination the completeness assertion 21.

uninflected procedures to find potential mis accounts: cast and analyze long provide and percentage change in inventorying, cost of strongs sold, and expense accounts primer coat and analyze ratios like inventory turnover and number of days crude revenue in inventory puddle common sized income statement to identify cost of good sold or expense accounts that are out of line 23. figure (diversity) of items High volume of activity diverse (sometimes complex) valuation obstacle in identifying noncurrent or defective inventory umteen frauds embarrass the inventory account intimately transportable making it dependant to geminate counting May be stored at...If you want to get a serious essay, order it on our website: Orderessay

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