AuditoftheSalesandCollectionCycle(英文版)(ppt36页)课件.ppt

Audit of the Sales andCollection Cycle Chapter 11 Learning Objective 1 Accounts in the Salesand Collection Cycle Accounts in the Salesand Collection Cycle Learning Objective 2 Processing Customer Orders Sales Transaction Cash Receipts Transaction Sales Returns andAllowances Transaction Charge-off of Uncollectible Accounts Transaction Bad Debt ExpenseTransaction Shipping Goods Learning Objective 3 Effect of E-Commerce on theSales and Collection Cycle Effect of E-Commerce on theSales and Collection Cycle Effect of E-Commerce on theSales and Collection Cycle Learning Objective 4 Understanding InternalControl – Sales Methodology for Designing Controlsand Substantive Tests: Sales Assess PlannedControl Risk – Sales Internal Verification Procedures Transaction-Related AuditObjectives for Sales Design Substantive Testsof Transactions for Sales Direction of Tests for Sales Summary of Methodologyfor Sales Learning Objective 5 Sales Returnsand Allowances Sales Returnsand Allowances Learning Objective 6 Tests of Controls and Substantive Testsof Transactions for Cash Receipts Learning Objective 7 Audit Tests forUncollectible Accounts Additional Internal ControlsOver Account Balances Effect of Results of Controls andSubstantive Tests of Transactions Role of all Audit Tests in theSales and Collection Cycle End of Chapter 11 Apply the methodology for controls over the sales and collection cycle to write-offs of uncollectible accounts receivable. Existence of recorded write-offs is the most important transaction-related audit objective. What is a major concern in testing accounts charged off as uncollectible? – covering up a defalcation by charging off accounts receivable that have been collected Realizable value Rights and obligations Presentation and disclosure The parts of the audit most affected by the tests for the sales and collection cycle are: Accounts receivable Cash Bad debt expense Allowance for doubtful accounts 11 - * ?2003 Prentice Hall Business P