AuditoftheCapitalAcquisitionandRepaymentCycle(英文版)(ppt32页)课件.pptVIP

Audit of the CapitalAcquisition andRepayment Cycle Chapter 21 Characteristics of the CapitalAcquisition and Repayment Cycle Characteristics of the CapitalAcquisition and Repayment Cycle Finance and Investing Accounts Investments Gains and losses on investments Intangibles - goodwill, consolidations Long term debt Interest income/expense Dividend income Stock Accounts Accounts in the Cycle Accounts in the Cycle Segregation of Duties Authorization – Board of Directors minutes Custody Registrar list of stockholders Transfer agent issues/cancels shares Broker keeps stock/bond - confirm Officer keeps stocks/bonds – count Recordkeeping – accounting Reconciliation to broker reports, registrar Control Issues Transactions processed by high level management Separation of duties - compensating controls Special Audit Considerations Usually not sampled because there are few high dollar transactions Tests for details 100% of all items Assertions Existence and ownership of securities Valuation of income and expenses Completeness of liabilities. Methodology for Designing Tests ofBalances – Notes Payable Methodology for Designing Tests ofBalances – Notes Payable Methodology for Designing Tests ofBalances – Notes Payable Notes Payable Notes Payable and the Related Interest Accounts Internal Controls Tests of Controls and SubstantiveTests of Transactions Analytical Proceduresfor Notes Payable Analytical Proceduresfor Notes Payable Major Balance-Related Audit Objectives in Notes Payable Types of Audit Testsfor Notes Payable Types of Audit Testsfor Notes Payable Owners’ Equity Owners’ Equity andDividend Accounts Owners’ Equity andDividend Accounts Internal Controls Audit of Capital Stockand Paid-in Capital Audit of Capital Stockand Paid-in Capital Audit of Dividends Audit of Retained Earnings E-Commerce andCapital Acquisition Estimates Management communicates the need for proper accounting estimates Reliable data for estimates Preparation of estimates by qualified pers