Acc 491 - 1271 Words

Ch. 8: Comprehensive Questions: Analytical procedures ( 8-15 and 8-16) ï‚ · Ch. 10: Comprehensive Questions: Components of internal control (10-31 and 10-32) ï‚ · Ch. 11: Comprehensive Questions: Assessing control risk (11-21) 8-15 | (Analytical procedures) In audit planning the audit of Construction Industry Resources, Inc., a building supply company. You have completed analytic procedures relevant to purchases and inventory. The results of these procedures are included in Figure 8.13.Figure 8.13. Selected Financial Information ($000) | X1 | X2 | X3 | X4 | X5 | Building supply revenues | $ 90,100 | $ 99,380 | $ 117,468 | $ 137,085 | $ 160,800 | Lumber brokerage revenues | $ — | $ — | $ 45,021 | $ 63,480 | $ 90,141 |†¦show more content†¦Control activity 9. Suntron s internal audit staff periodically assesses the effectiveness of various ICS components. Monitoring 10. Policy manuals, accounting and financial reporting manuals, and a chart of accounts have been developed and implemented. Information and communication Required 11. Identify the components of internal control to which each policy or procedure relates. 12. For each item, identify one other policy or procedure for that internal control component that is not on the preceding list. * 10-32 (Components of internal control) Internal controls can be categorized using the following framework. 13. Control environment 14. Risk assessment 15. Information and communication 16. Control activities 4.1. | Authorization | 4.2. | Segregation of duties | 4.3. | Information processing controls 4.3.1. | Computer general controls | 4.3.2. | Computer application controls | 4.3.3. | Controls over the financial reporting process | | 4.4. | Physical controls | 4.5. | Performance reviews | 4.6. | Controls over management discretion in financial reporting | 17. Monitoring 18. Antifraud programs and controls Following is a list of controls prescribed by Waterfront, Inc. 1. Management has established a code of conduct that includes rules regardingShow MoreRelatedACC 491 Syllabus1437 Words   |  6 PagesSYLLABUS ACC/491 Contemporary Auditing I Copyright  ©2014 by University of Phoenix. All rights reserved. Course Description This course is the first in a two-part series that deals with auditing a company s financial reports, internal controls, and Electronic Data Processing (EDP) systems. Topics include auditing standards, evidence, audit planning and documentation, materiality and risk, internal control, statistical tools, and the overall audit plan and program. Course Dates Nov 11, 2014 - DecRead MoreAcc 491 7-22691 Words   |  3 PagesThe knowledge and understanding that we want for each of the eight categories is as follows: |Category |Knowledge and understanding needed | |Industry conditions |Is the overall music industry growing or shrinking? | | |What is the demand for on-line music? | Read MoreWarf Computers1666 Words   |  7 PagesDebt Total LT Liab Total Liab SE/OE 2010 262 71 158 491 2009 245 66 257 568 212 756 968 1459 2010 13 81 509 1558 -121 2040 2040 3499 103 736 839 1407 2009 13 80 499 1028 -81 1539 1539 2946 Fixed Assets PPE Less Acc Dep Net PPE Intangible Assets Total FA Total Assets Total Assets Angus Jones Partners, LLC 2631 2038 859 700 1772 1338 508 454 2280 1792 3499 2946 3499 2946 Preferred Stock Common Stock Capital Surplus Acc RE Less Treasury Stock Total Equity Total SE Total LiabRead MoreSkeletal Muscle Essay1306 Words   |  6 Pagesbottom right panel). Importantly, a decrease in both phosphorylation at Ser79 and total protein levels of acetyl-CoA carboxylase (ACC), a key downstream substrate of AMPK, were also observed (Fig. 2B, top panel, compare lane 2 to lane 1; bottom panels, compare red bars to blue bars). The decrease in total protein level of ACC was consistent with previous reports demonstrating ACC as a target of positive transcriptional regulation by PGC-1ï  ¡ (Tong, 2005) which is activated by AMPK phosphorylation (MounierRead MoreAuditing, Attestation, and Assurance Services Paper - Introduction1077 Words   |  5 PagesAuditing, Attestation, and Assurance Services Paper Jane Johnson Contemporary Auditing I ACC/491 Auditing, Attestation, and Assurance Services Paper Introduction Auditing is a subset of attestation, which is a subset of assurance. These services, which are governed by several organizations, are unique in their own way. Because of the constantly changing role of the auditor, particularly since the Sarbanes-Oxley Act of 2002, different types of services have become necessary. In thisRead MoreAudit Sampling1960 Words   |  8 PagesAuditing Sample Case Study Memo Team D (Wayne Brown, Melissa Ginez, Matthew Gourlie, Juel Rypka) University of Phoenix ACC/491 Alisa Dumond December 19, 2011 ------------------------------------------------- interoffice memorandum to: John Smith, CEO Key west company from: Audit Team D subject: Audit Findings for Key West Company date: 12/18/2011 ------------------------------------------------- Dear Mr. Smith The purpose of this memo is to communicate to you the resultsRead MoreAuto Parts Industry29258 Words   |  118 Pagescollision avoidance systems, and inattentive driver alert systems/driver drowsiness detection. Advanced adaptive cruise control began entering the market on European luxury cars in 2006. Adaptive cruise control (ACC) maintains a certain distance from the car in front, down to a crawl. Advanced ACC would bring the car to a stop and could resume its cruise control functions from a stop. Such technology raises legal and liability questions involving equipment that functions independently of the driver. TheRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesof company growth Categories Books Music Video Actions Electronics Software Tools Hardware Toys Video Games zShops Health Beauty Kitchen Lawn Patio Photo Services Jewellery Beauty Used@Amazon Wireless Computers Market Place Travel Apparel and Acc Web Services Magazines Sports Goods Launch 1995 1998 1998 1999 1999 1999 1999 1999 1999 1999 2000 2000 2000 2000 2004 2004 2000 2000 2001 2001 2001 2002 2002 2003 2003 International categories UK German Books UK German Music UK German AuctionsRead MoreSupporting the Development of English Literacy in English Language Learners22851 Words   |  92 Pagesfrom five elementary schools in a medium-sized metropolitan school district in the south central region of the U.S. The three instructional approaches examined were: English as a second 15 Note that miscue analysis was not used to d etermine acc uracy, b ut to determine whether miscues re sulted in sentences that were syntactically ac ceptable and made sense within the co ntext of the story. 16 Spelling improvement was also noted; students increased the number of words spelled correctly thatRead MoreMarketing and E-commerce Business65852 Words   |  264 Pages Understanding Ethical, Social, and Political Issues in E-commerce     486 A Model for Organizing the Issues     487 Basic Ethical Concepts: Responsibility, Accountability, and Liability     489 Analyzing Ethical Dilemmas    491 Candidate Ethical Principles    491 8.2 Privacy and Information Rights    493 Information Collected at E-commerce Sites     494 Social Networks and Privacy    495 Mobile and Location-Based Privacy Issues     497 Profiling and Behavioral Targeting    498