completingthetestsintheacquisition(英文版)(編輯修改稿)
2025-03-18 11:24 本頁面
【文章內(nèi)容簡介】 1. Examine vendors’ invoices. 19 16 Current year acquisitions as listed are properly classified. Major BalanceRelated Audit Objectives Classification Examine: 1. Vendors’ invoices in mfg. equipment account. 2. Vendors’ invoices of closely related accounts. 3. Rent and lease expense for capitalizable leases. 19 17 Verifying Current Year Disposals Review whether newly acquired assets replace existing assets. Analyze gains and losses on disposal. Review documents for indications of deletion of equipment. Make inquiries about the possibility of the disposal of assets. 19 18 Verifying Ending Balance of Asset Accounts 1. All equipment owned is recorded. 2. All recorded equipment physically 3. exists on the balance sheet date. 19 19 Verifying Depreciation Expense The most important objective is accuracy. Consistent depreciation policy Correct calculations 19 20 Verifying Ending Balance in Accumulated Depreciation 1. Accumulated depreciation as stated in the property master file agrees with the general ledger. 2. Accumulated depreciation in the master file is accurate. 19 21 Audit of Prepaid Expenses ? Prepaid rent ? Organization cost ? Prepaid taxes ? Patents ? Prepaid insurance ? Trademarks ? Deferred charges ? Copyrights 19 22 Prepaid Insurance and Related Accounts Prepaid Insurance Insurance Expense Beginning balance Current period insurance expense Acquisitions Ending balance 19 23 Prepaid Insurance Internal Controls 1. Controls over the acquisition and recording of insurance 2. Controls over the insurance register 3. Controls over the chargeoff of insurance expense 19 24 Prepaid Insurance Audit Tests Compare total prepaid insurance and insurance expense with previous years. Compute the ratio of prepaid insurance to insurance expense and pare it with previous years. Compare the individual insurance policy coverage on the schedule of insurance obtained with the precedin
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