Chapter14 Audit of the Sales and Collection Cycle Tests of Controls (审计学-英文版).pptVIP

Audit of the Sales and Collection Cycle:Tests of Controls and Substantive Tests of Transactions Chapter 14 Learning Objective 1 Identify the accounts and the classes of transactions in the sales and collection cycle. Accounts in the Sales and Collection Cycle Accounts in the Sales and Collection Cycle Learning Objective 2 Describe the business functions and the related documents and records in the sales and collection cycle. Sales Transaction Cash Receipts Transaction Sales Returns and Allowances Transaction Charge-off of Uncollectible Accounts Transaction Bad Debt Expense Transaction Processing Customer Orders Granting Credit Shipping Goods Billing Customers and Recording Sales Processing and Recording Cash Receipts Processing and Recording Sales Returns and Allowances Charging Off UncollectibleAccounts Receivable Providing for Bad Debts Learning Objective 3 Understand how e-commerce activities affect the sales and collection cycle. Effect of E-Commerce on the Sales and Collection Cycle Effect of E-Commerce on the Sales and Collection Cycle Effect of E-Commerce on the Sales and Collection Cycle Learning Objective 4 Understand internal control, and design and perform tests of controls and substantive tests of transactions for sales. Methodology for Designing Controls and Substantive Testsof Sales Transactions for Sales Understand Internal Control – Sales Assess Planned Control Risk – Sales Assess Planned Control Risk – Sales Determine Extent of Testing Controls Transaction-Related AuditObjectives for Sales Transaction-Related AuditObjectives for Sales Direction of Tests for Sales Summary of Methodology for Sales Learning Objective 5 Apply the methodology for controls over sales transactions to controls over sales returns and allowances. Sales Returns and Allowances Sales Returns and Allowances Learning Objective 6 Understand internal control, and design and perform tests of controls and substantive tests of transactions for cash receipts. Tests of Controls and