Plan – The Bank Reconciliation Statement General Objectives: Students will: 1. Account for differences between the cash book and bank statement balances. 2. Construct a bank reconciliation statement using the adjusted trial balance. Specific Objectives: Students will: Cognitive: 1. Demonstrate knowledge of the concept of reconciling bank statements. 2. Explain the reasons as to why your cash book and bank statement may not balance. Psychomotor: 1. Construct a bank reconciliation
Premium 2007 1983 1965
Auditing Program Design Part II The purpose of this part of the audit process for Apollo Shoes is to design tests of controls‚ substantive tests of transactions‚ and analytical procedures for the sales‚ collection‚ payroll‚ personnel‚ acquisition‚ and payment cycles. These test and procedures are with intent to attest operating effectiveness of internal controls of Apollo Shoes on the basis of documentation provided. It is with the understanding that with the performing of test and procedures an
Premium Accounts receivable Invoice Balance sheet
Organizational and Operational Structure of Banks .................................................................... 22 Chapter 4: Internal Control Through Inspection and Internal Audit ............................................................. 28 Chapter 5: Legal Framework and KYC Policies.......................... 35 Part II: Domain of Concurrent Audit Chapter 1: Evolution of Concurrent Audits in Banks................... 59 Chapter 2: General Guidelines on Concurrent Audit .................. 62 Chapter
Premium Bank
How to Prepare a Bank Reconciliation Statement: To prepare the bank reconciliation statement‚ the following rules may be useful for the students: 1. Check the cash book receipts and payments against the bank statement. 2. Items not ticked on either side of the cash book will represent those which have not yet passed through the bank statement. 3. Make a list of these items. 4. Items not ticked on either side of the bank statement will represent those which have not yet been passed
Premium Bank Cheque Credit card
AP-3: ⇒Audit Program for Accounts Receivable Company Balance Sheet Date | | | The company has the following general ledger accounts that are classified in the accounts‚ notes‚ or other receivables captions of the | |balance sheet:
Premium Accounts receivable Invoice Audit
Recovery Audit Program (RAC) Christina W. Furbert Devry University HIT230 Health Insurance and Reimbursement Professor Ingram Table of Contents What is RAC?..............................................................................................................................................................3 What type of audits will the RAC program cover?.....................................................................................................3 What could happen if it
Premium Health care Appeal Health insurance
Last Monday‚ I started my day doing the Bank Reconciliation of Banco de Oro. It is where a report of bank balance as per company’s accounting records compares with the balance stated in the bank statement. Before I started this task‚ my supervisor told me that I should know first what the purpose of reconciling is. The purpose of preparing a Bank Reconciliation Statement is to detect any discrepancies between the accounting records of the entity and the bank besides those due to normal timing differences
Premium Management Employment Learning
AUDIT PROGRAM DESIGN PART II Sales and Collection Cycle The objective in the audit of the sales and collection cycle is to evaluate whether the account balance affected by the cycle are fairly presented in accordance with accounting standards. There are five classes of transactions in the sales and collection cycle. • Sales • Cash Receipts • Sales returns and allowances • Write-off of uncollectible accounts • Estimate of bad debt expense (Arens‚ 2012‚ p.442) The Key control
Premium Accounts receivable Invoice Balance sheet
the Aboriginal Spirituality and its approach to Reconciliation. The most predominant tradition through its campaigns and movements in asserting the Aboriginals is the Christian religious tradition. This can be seen through the ongoing support‚ the ACC‚ the media‚ protests and the formal apology for the abuse through the missionaries. This is highly effective as it recognises the wrongfulness and asserts the positivity in the process of Reconciliation. Interfaith initiatives have also been effective
Premium Indigenous Australians Australia Indigenous peoples
Information System Audit in Indian Banks CA Bharatish Ballal Information systems and audit Information itself is an important asset in today’s business. If information is lost‚ modified‚ misused huge loss can occur to business. Hence information security becomes important for any business. Information system in business including that of banking is becoming technology oriented. Computers are being used in all the areas of business including that of financial accounting. Internal
Premium Financial audit Audit Auditing