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  • Apple Blossom Credit Sales Program Audit Steps

    Enviado por

    Adiet D' Matamaries
    2K visualizações1 página
    This document outlines 13 steps for auditing the accounts receivable and credit sales programs of Apple Blossom Cologne Company, including: 1) reviewing internal controls, 2) tracing sample transactions, 3) obtaining an aged trial balance, 4) testing account aging, 5) confirming select accounts, 6) reviewing collections, 7) establishing proper year-end cut-off, 8) reviewing collectibility with credit managers, 9) obtaining an analysis of the allowance for uncollectible accounts, 10) ascertaining approvals for write-offs, 11) preparing a comparative analysis of receivables, sales and costs, 12) ascertaining if any receivables were pledged or discounted, and 13) ascertaining proper

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    Audit Program Acc. Receivable

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    © Attribution Non-Commercial (BY-NC)

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    DOC, PDF, TXT ou leia online no Scribd

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    This document outlines 13 steps for auditing the accounts receivable and credit sales programs of Apple Blossom Cologne Company, including: 1) reviewing internal controls, 2) tracing sample transactions, 3) obtaining an aged trial balance, 4) testing account aging, 5) confirming select accounts, 6) reviewing collections, 7) establishing proper year-end cut-off, 8) reviewing collectibility with credit managers, 9) obtaining an analysis of the allowance for uncollectible accounts, 10) ascertaining approvals for write-offs, 11) preparing a comparative analysis of receivables, sales and costs, 12) ascertaining if any receivables were pledged or discounted, and 13) ascertaining proper

    Direitos autorais:

    Attribution Non-Commercial (BY-NC)
    Baixe no formato DOC, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    2K visualizações1 página

    Apple Blossom Credit Sales Program Audit Steps

    Enviado por

    Adiet D' Matamaries
    This document outlines 13 steps for auditing the accounts receivable and credit sales programs of Apple Blossom Cologne Company, including: 1) reviewing internal controls, 2) tracing sample transactions, 3) obtaining an aged trial balance, 4) testing account aging, 5) confirming select accounts, 6) reviewing collections, 7) establishing proper year-end cut-off, 8) reviewing collectibility with credit managers, 9) obtaining an analysis of the allowance for uncollectible accounts, 10) ascertaining approvals for write-offs, 11) preparing a comparative analysis of receivables, sales and costs, 12) ascertaining if any receivables were pledged or discounted, and 13) ascertaining proper

    Direitos autorais:

    Attribution Non-Commercial (BY-NC)
    Baixe no formato DOC, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 1

    Apple Blossom Cologne Company SP-1

    Credit Sales Program

    1. review and evaluate internal controls for account receivable


    2. trace sample transactions throughthe sales records
    3. obtain an aged trial balance of acc, receivable, foot columns, and trace to ledger
    4. test selected accounts for proper aging
    5. confirm selectaccounts receivable directly witjh customer
    6. review collections subsequent to tear end and related to year end receivables
    7. review selected transactions immediately before and after year end to establish
    proper cut-off
    8. review collectibility of accounts with credit manager and/or other appropriate
    personnel
    9. obtain or prepare analysis of allowance foe uncollectible accounts presenting
    beginning and ending balances, current year provision, and receivables written off
    10. ascertain that appropriate approvals were obtained for any receivables written off
    during the year
    11. prepare comparative analysis of receivable, sales, and cost of sales and review for
    significant changesw from prior year
    12. ascertain whether any receivables have been pledge, factored, or discounted
    13. ascertain proper financial statement presentation for account receicable and
    allowance

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