All categories

2 years ago

The document that details the specific audit procedures for each type of test is the?

Business

1 answer:

solniwko [45]2 years ago

6 0

The document that details the specific audit procedures for each type of test is the audit program.

The procedures that auditors follow in order to gather enough relevant audit evidence to make a professional judgment about the efficacy of an organization's internal controls.

To determine if transactions were appropriately categorized in the accounting records, audit techniques are utilized. For instance, it is possible to check purchase records for fixed assets to determine whether they were properly categorized into the appropriate fixed asset account.

To check if transactions have been recorded during the appropriate reporting period, audit processes are utilized. For instance, the shipping log can be examined to determine whether shipments to clients on the final day of the month were properly documented.

Learn more about audits here:

brainly.com/question/14652228

#SPJ4

You might be interested in

When Anhueser Busch InBev sells Budweiser beer made in St. Louis, MO, to Germany, the sales of its product would be classified a

kvasek [131]

Answer:

Export.

Explanation:

When a company sells its assets to a buyer in another country it is considered an export as the company is no longer considered an asset of the country of origin.

So when Anhueser Busch InBev sold Budweiser beer made in St. Louis, MO, to Germany, it carried out a United States export to Germany.

6 0

3 years ago

ou open a business selling art supplies and lessons. In your first month, you had the following total sales: $4,000 in paint, $2

never [62]

8,400 is your answer all you have to do is add the 4 sales and subtract the discounts and the returns

8 0

3 years ago

Read 2 more answers

Pharoah Chemicals management identified the following cash flows as significant in its year-end meeting with analysts: During th

7nadin3 [17]

Answer:

Net cash provided by financing activities = $284,280

Explanation:

Net cash provided by financing activities = Additional debt - Repayment of existing debt - stock repurchase

Net cash provided by financing activities = $645,000 - $315,900 - $44,820

Net cash provided by financing activities = $284,280

4 0

3 years ago

Why is it difficult for most small business owners to raise the capital needed to start, operate, or expand their ventures?

Andre45 [30]

Answer:

1. It is not easy to get funds for a start up, as many banks do not consider it as a successful decision to provide loan to a start up, as the feasibility of recovery of loan cannot be identified and guaranteed.

2. Venture capitalists also faces the same issue as of bank, also they are large equity investors and tend to invest in even larger project.

3. Private investors do not blindly invest and rather are more cautious then banks or venture capitalists, as because they do not huge funds to invest, and with less amount of investment they need even higher assurance.

4. Public stock is never available for a start up as for public stock issue you need great credibility, and good previous record.

4 0

3 years ago

Nolan Company's cash account shows a $22,064 debit balance and its bank statement shows $22,531 on deposit at the close of busin

Bezzdna [24]

Answer:

Nolan Company

Bank Reconciliation

June 30

Balance per cash book 22,064

Less: Bank Service charges ( 24)

Add: Error in recording payment ( $ 59- $ 50) 9

Add: Interest earned 27

Adjusted balance per cash book 22,076

Balance per bank statement 22,531

Less: Outstanding checks ( 2,655)

Add; Deposits in Transit 2,200

Adjusted balance per bank statement 22,076

Explanation:

The bank service charges and the interest earned appear on the bank statement and has to be adjusted in the cash book balance. The errors found in recording the payment at $ 59 instead of $ 50 results in an overpayment and the correction needs to be added to the cash book balance

the outstanding checks has not yet been cleared by the bank so there is a reduction on the bank statement balance. The deposits in transit has not been received by the bank so needs to be adjusted as an addition on the bank statement balance.

3 0

3 years ago