ACC 492 LEARN BEST EDUCATION / Snaptutorial.com

1
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
2
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 1 Current Issue Summary For more
classes visits www.snaptutorial.com     ACC 492
Week 1 Current Issue Summary Write a 175- to
350-word summary. Research a recent article on
sampling as it relates to financial statement
auditing. Apply what you learn to your future or
current job.
3
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 1 DQ 1 For more classes
visits www.snaptutorial.com     What account
balances are included in a revenue and collection
cycle? What specific control procedures should be
in place and operating in internal control
governing revenue recognition and cash
accounting? What assertions
4
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 1 DQ 2 For more classes
visits www.snaptutorial.com     Why is it
important to place emphasis on the existence and
rights (ownership) assertions when auditing
accounts receivable? Which audit procedures are
usually the most useful for auditing the
existence and rights assertions?
5
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 2 Current Issue Summary Auditing
Cash, Financial Instruments, Sales, or
Receivables For more classes visits www.snaptutori
al.com     ACC 492 Week 2 Current Issue
Summary Write a 175- to 350-word
summary. Research a recent article on auditing
cash, financial instruments, sales, or
receivables. Apply what you learn to your future
or current job.
6
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 2 DQ 1 For more classes
visits www.snaptutorial.com     How might a
purchasing manager use his or her position to
defraud the company? What can be done to prevent
it? Where could an auditor look to find evidence
of losses on purchase commitments and unrecorded
liabilities to vendors?
7
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 2 DQ 2 For more classes
visits www.snaptutorial.com   Why does the
auditor examine travel and entertainment
expenses? What would poor controls regarding
executive reimbursements say about the tone at
the top for purposes of evaluating and reporting
on internal control? How
8
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 2 Textbook Problem 23-20, 14-26 For
more classes visits www.snaptutorial.com     23-20
(Objectives 23-3, 23-4) The following are
misstatements that might be found in the client's
year-end cash balance (assume that the balance
sheet date is June 30) 1.The outstanding
checks on the June 30 bank reconciliation were
underfooted by 2,000.
9
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 2 Week 2 Quiz For more classes
visit www.snaptutorial.com   ACC 492 WEEK 2 Week
2 Quiz A CPA obtains a January 10 cutoff bank
statement for a client directly from the bank.
Very few of the outstanding checks listed on the
clients December 31 bank reconciliation cleared
during the cutoff period.
10
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 3 Current Issue Summary Auditing
Inventory, Warehouse, or Payroll Cycles For more
classes visits www.snaptutorial.com    ACC 492
Week 3 Current Issue Summary Auditing Inventory,
Warehouse, or Payroll Cycles  Write a 525- to
700-word summary. Research a recent article on
auditing inventory, warehousing, or
payroll. Apply what you learn to your future or
current job.
11
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 3 DQ 1 For more classes
visits www.snaptutorial.com   What internal
control components are common among long-term
assets, liabilities, and equity accounts? What
components are unique to each? How can an auditor
assess these controls
12
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 3 DQ 2 For more classes
visits www.snaptutorial.com   What are the key
management assertions related to equity? What are
the most important assertions related equity? How
will auditors test these assertions?
13
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 3 Quiz For more classes
visit www.snaptutorial.com   ACC 492 WEEK 3 Week
3 Quiz Control risk is the risk that a material
misstatement in an account will not be prevented
or detected on a timely basis by the clients
internal controls. The best control to prevent or
detect fictitious payroll transactions is to
14
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 3 Team Assignment Inventory,
Warehousing, and Payroll accounts and cycles
(Walmart, 2000 Words) For more classes
visits www.snaptutorial.com    Inventory,
Warehousing, and Payroll accounts and
cycles Consider and discuss the specific risks
and nature of the company you will be auditing
and create comprehensive work programs for the
Inventory, Warehousing, and Payroll accounts and
cycles.
15
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 3 textbook assignment 20-20,
21-21 For more classes visits www.snaptutorial.com
    ACC 492 Week 3 textbook assignment  20-20
(Objectives 20-2, 20-3) Following are some of the
tests of controls and substantive tests of
transactions procedures often performed in the
payroll and personnel cycle. (Each procedure is
to be done on a sample basis or using audit
software.)
16
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 4 Current Issue Summary auditing
acquisitions, payments, property plant and
equipment For more classes visits www.snaptutorial
.com     ACC 492 Week 4 Current Issue
Summary Write a 525- to 700-word
summary. Research a recent article on auditing
acquisitions, payments, property plant and
equipment (fixed assets), notes payable, or
owners equity.
17
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 4 DQ 1 For more classes
visits www.indigohelp.com     What are the steps
that are required for an auditor to finalize the
audit? Which steps are the most crucial to the
outcome of the audit? How will these steps affect
the final audit decision?
18
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 4 DQ 2 For more classes
visits www.indigohelp.com     What types of
opinions does an auditor issue other than
unqualified? How does an opinion other than
unqualified affect the client? In your opinion,
which is the worst? What are the circumstances
that warrant each type of opinion?
19
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 4 Team Assignment Acquisition,
Payment, Property Plant, and Equipment Notes
Payable and Owners Equity and cycles
(Walmart) For more classes visits www.snaptutorial
.com    ACC 492 Week 4 Team Assignment Consider
and discuss the specific risks and nature of the
company you will be auditing and create
comprehensive work programs for the Acquisition,
Payment, Property Plant, and Equipment (Fixed
Assets), Notes Payable and Owners Equity
accounts and cycles.
20
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 4 Textbook Problem 18-26 For more
classes visits www.snaptutorial.com     18-26
(Objectives 18-3, 18-4) In testing cash
disbursements for the Jay Klein Company, you
obtained an understanding of internal control.
The controls are reasonably good, and no unusual
audit problems arose in previous years.
21
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 4 Week 4 Quiz For more classes
visit www.snaptutorial.com   ACC 492 WEEK 4 Week
4 Quiz Budd, the purchasing agent of Lake
Hardware Wholesalers, has a relative who owns a
retail hardware store. Budd arranged for hardware
to be delivered by manufacturers to the
relatives retail store on a COD
22
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 5 Assignment importance of
considering contingent liabilities, letters from
client lawyers (Walmart) For more classes
visits www.snaptutorial.com     ACC 492 Week 5
Learning Team Assignment You and your team have
completed your fieldwork and have a handful of
other considerations before you complete the
audit and issue your report. These activities are
designed to ensure nothing significant has
occurred
23
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com
ACC 492 Week 5 Final Audit Paper (Walmart) For
more classes visits www.snaptutorial.com     ACC
492 Week 5 Final Paper Review the Form 10-K for
the company selected for team assignments. Write
a 1,050- to 1,400-word paper on the following 1.
Managements Report on Internal Control Over
Financial Reporting
24
ACC 492 LEARN BEST EDUCATION / Snaptutorial.com