completingthetestsintheacquisition(英文版)-wenkub
2023-03-19 11:24:16 本頁面
【正文】 ance Beginning balance Gain or Loss on Disposals Depreciation Expense Current period depreciation Ending balance Disposals Disposals Acquisitions 19 10 Auditing Manufacturing Equipment and Related Accounts Analytical procedures Current year disposals Ending balance in the asset account Depreciation expense Ending balance in accumulated depreciation Current year acquisitions 19 11 Analytical Procedures for Manufacturing Equipment Analytical Procedure Possible Misstatement Compare depreciation Misstatement in expense divided by gross depreciation expense manufacturing equipment and accumulated cost with previous years. depreciation Compare accumulated Misstatement in depreciation divided by gross accumulated manufacturing equipment depreciation cost with previous years. 19 12 Analytical Procedures for Manufacturing Equipment Analytical Procedure Possible Misstatement Compare monthly or annual Expensing amounts repairs and maintenance, that should be supplies expense, small tools capitalized expense, and similar accounts with previous years. Compare gross manufacturing Idle equipment or cost divided by some measure equipment that has of production with previous been disposed of, but years. not written off. 19 13 Verifying Current Year Acquisitions The proper recording of current year additions is important because of the longterm effect the assets have on the financial statements. Because of the importance of current period acquisitions, seven of the nine balancerelated audit objectives are used as a frame of reference. 19 14 Existing acquisitions are recorded. Major BalanceRelated Audit Objectives Completeness 1. Examine vendors’ invoices of closely related accounts to uncover items that should be manufacturing equipment. 2. Review lease and rental agreements. 19 15 Current year acquisitions as listed are accurate. Major BalanceRelated Audit Objectives Accuracy 1.
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