Acct Stuff Essay

CASE 5 raise1. For each of the following specific canvas procedures, indicate the type of audit procedure it represents (1) inspection of records or documents, (2) inspection of tangible assets, (3) observation, (4) inquiry, (5) confirmation, (6) recalculation, (7) reperformance, (8) analytical procedures, and (9) scanning. a. move a written request to the guests customers requesting that they report the descend owed to the leaf node. a. proofi. Existence trying to determine if A/R is overstated. b. Examining double sales invoices for a period of two days before and after year-end to determine if sales ar recorded in the beseeming period. b. Inspection of document/recordsii. Cutoff make sure sales are recorded in proper period. c. Agreeing the total of the accounts receivable subsidiary book to the accounts receivable general ledger account. c. Reperformance-does total agree?iii. completenessd. Discussing the adequacy of the accommodation for doubtful accounts with the cr edit manager. d. Inquiryiv. Valuation and allocatione. Comparing the current-year gain profit percentage with the gross profit percentage for the last four years. e. Analytical proceduresv. Valuation and allocationf. Examining a new plastic protuberance machine to ensure that this major acquisition was received. f. Inspection of tangible assetsvi. realityg. Watching the clients warehouse personnel count the edged materials inventory. g. Observationvii. Existence/completenessh. Performing test counts of the warehouse personnels count of the raw material. h. Reperformanceviii. Valuation and allocationi. Obtaining a letter from the clients attorney indicating that there were no lawsuits in progress against the client. i. Confirmationix. Existence/valuation and allocationj. Tracing the prices used by the clients billing program for pricing sales invoices to the clients approved price list. j. Inspection of documentsx. accuracyk. Reviewing the general ledger for different adjusting entries. k. Scanningxi. Valuation and allocation.2. For each of the audit procedures listed in 1 above, draw the primary assertion being tested.