CH09 Revenue and Collection Cycle(审计学,英文版).ppt

Part 3 Audit Applications CHAPTER 4-5-6 划分业务循环 CHAPTER 9 Revenue and Collection Cycle 1. Typical Activities 2.Audit Evidence in Management Reports and Data Files 3.Control Risk Assessment 4.Audit Cases: Substantive Audit Procedures(4) CHAPTER 9 Revenue and Collection Cycle 5.Special Note: The Existence Assertion Using Confirmations Audit of Bank Reconciliation with Attention to Lapping and Kiting 1. Typical Activities （1）接受和处理顾客订单，包括批准信用； （2）向顾客提供货物和劳务； （3）开具账单给顾客并登记应收账款； （4）收集并存放向顾客收取的现金； （5）调整银行对账单。 P350，E9-1 Account/Records Cash in bank Cash receipts accounts receivable Allowance for doubtful accounts,write-offs Bad debt expense Sales revenue Sales returns, allowances, discounts Perpetual inventory records, shipping records Segregation of responsibility authorization Custody recording reconciliation Segregation of responsibility A.authorization of sales and accounts receivable Custody, recording, reconciliation B. Custody of inventory and cash .authorization , recording, reconciliation Segregation of responsibility C.recording(accounting) .authorization, Custody, reconciliation D. Reconciliation .authorization, Custody, recording combination of 2 of more （1）SALES AND ACCOUNTS RECEIVABLE AUTHORIZATION Enter the order entry in the computer terminal computer system perform automatic authorization procedures(be imbedded in) access to the master files (changes) must be limited pending order, packing slip ,updates the inventory master file, should be numbered in a numerical sequence. The price list master file. Custody Transfer, Packing slip Storekeepers or the shipping dep change the quantity(combine with a recording function) “custody” of accounts receivable records to alter the records(combine with authorization and recording responsibility) recording System: (1)produce a bill of lading shipping document (2)remove the order from the pending order master file (3)produce