the matrix below. For each audit objective‚ briefly describe the ACL test procedure. Selected Financial data: Inventory Balance at 12/31/2004 $ 1‚108‚194.94 Management Assertion Audit Objective Audit Procedures to be Performed Using ACL Completeness Valuation or Allocation Accuracy To answer parts 3 and 4 requires that you install ACL™ Desktop Edition (full educational version) on your computer. To do so follow the instructions on the CD that came with the textbook. The ACL Project
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Vulnerability To MIS Risk To function effectively as an interacting‚ interrelated‚ and interdependent feedback tool for management and staff‚ MIS must be "useable." The five elements of a useable MIS system are: timeliness‚ accuracy‚ consistency‚ completeness‚ and relevance. The usefulness of MIS is hindered whenever one or more of these elements is compromised. Timeliness To simplify prompt decision making‚ an institution’s MIS should be capable of providing and distributing current information
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The Characteristics of an Archetypal Tragic Hero 1. Noble stature Tragedy involves the “fall” of a tragic hero. One theory suggests that the tragic hero must have a desirable/higher/lofty position to fall on‚ or else there is no tragedy (just pathos). Another explanation of this characteristic is that tragedies involving people of stature affect the lives of others. For example‚ in the case of a king‚ the tragedy would not only involve the individual and his family‚ but it would involve the whole
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and do not always operate in the best interests of society. Therefore‚ intervention in the form of regulation is necessary to govern the preparation of accounting standards. Firstly‚ without proper regulations‚ the degree of credibility and completeness of information is unclear. This would be due to information asymmetry which might lead to businesses not disclosing relevant information to users or maybe withholding some information unless disclosure
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Clinic Indianapolis Indiana Intake Clerk Updates each patient’s information in the computer for all appointments. Take co-pay and other insurance duties. Created and ran reports and initiated corrective action as necessary to insure accuracy and completeness of administrative information. Answers multi-line telephone system. Directs calls to the appropriate person or department. scheduling and registering of new patients maintaining and tracking of the providers’ schedule changes in reference to patient
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Middletons & Gramjon Limited a) Describe the matters that the partners of Middletons should have considered and the procedure(s) the firm should have carried out in determining whether it should accept the appointment as auditors to Gramjon Limited. The most general definition of an audit is an evaluation of a person‚ organization‚ system‚ process‚ project or product. Audits are performed to ascertain the validity and reliability of information‚ and also provide an assessment of a system ’s internal
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access to sales invoice blanks restricted? | Yes | Is locked up in a closet | 4. Are pre-numbered bills of lading or other shipping documents prepared or completed in the shipping department? | Yes | Completed in the shipping department | Completeness assertion: | 5. Are sales invoice blanks pre-numbered? | Yes | | 6. Is the sequence checked for missing invoices? | N/A | | 7. Is the shipping document numerical sequence checked for missing bills of lading numbers? | N/A | | Accuracy
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Short Story Unit: Using the HACC Library The HACC online library seems somewhat temperamental to navigate for me at least. Although‚ I was able to find the articles in question but not without notable time consumed as well as frustration traverse the site. Subsequently‚ sometimes inquiries are effectively accomplished in person. Easterly’s article takes the approach in dealing with ‘Where Are You Going‚ Where Have You Been?’ to be somewhat of a mythical with underlying evil tone. The story of
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bonus linkage with the sales situation. Second‚ the company boss has a monthly teleconference meeting with branch managers. The periodical communication and monitor increase the probability of occurrence the desirable results by readjustment or completeness timely in case of undesirable behaviors. 3. Philip recommends the highest profit choice (for the company) is not necessarily unethical. For company‚ its final target is to make profit as much as possible. But for clients‚ they trust the
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Top-Down and Bottom-Up are both strategies of information processing and knowledge ordering‚ used in a variety of fields including software‚ humanistic and scientific theories (see systemic)‚ and management and organization. In practice‚ they can be seen as a style of thinking and teaching. A Top-Down Approach (also known as stepwise design or deductive reasoning‚ and in many cases used as a synonym of analysis order composition) is essentially the breaking down of a system to gain insight into
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