【正文】 2023 Prentice Hall Business Publishing, Auditing and Assurance Services 9/e, Arens/Elder/Beasley 19 40 End of Chapter 19 169。169。2023 Prentice Hall Business Publishing, Auditing and Assurance Services 9/e, Arens/Elder/Beasley 19 1 Completing the Tests in the Acquisition and Payment Cycle Chapter 19 19 2 Accounts Associated with Acquisition and Payment Cycle Transactions Assets Cash Inventory Supplies Property, plant, and equipment Patents, trademarks, and copyrights Prepaid rent Prepaid taxes Prepaid insurance 19 3 Accounts Associated with Acquisition and Payment Cycle Transactions Cost of goods sold Rent expense Property taxes Ine tax expense Insurance expense Professional fees Retirement benefits Utilities Expenses 19 4 Accounts Associated with Acquisition and Payment Cycle Transactions Accounts payable Rent payable Accrued professional fees Accrued property taxes Other accrued expenses Ine taxes payable Liabilities 19 5 Methodology for Designing Tests of Balances – Other Accounts Identify client business risks affecting other accounts. Set tolerable misstatement and assess inherent risk for accounts. Assess control risk for accounts. 19 6 Methodology for Designing Tests of Balances – Other Accounts Design and perform tests of controls and substantive tests of transactions for the acquisition and payment cycle. Design and perform analytical procedures for the acquisition and payment cycle. 19 7 Methodology for Designing Tests of Balances – Other Accounts Design tests of details of account balances to satisfy balancerelated audit objectives. Audit procedures Sample size Items to select Timing 19 8 Classification of Property, Plant, and Equipment Accounts ? Land and land improvements ? Building and building improvements ? Manufacturing equipment ? Furniture and fixtures ? Autos and trucks ? Leasehold improvements ? Constructioninprocess for property, plant, and equipment 19