Scribd Logo
Загрузить

Добро пожаловать в Scribd!

  • Summary of Assertions For Cash Receipts Transactions Flashcards - Quizlet

    Загружено:

    William Susetyo
    51 просмотров3 страницы
    This document summarizes assertions related to cash receipts transactions. It lists possible misstatements, control activities, and tests of controls for the assertions of occurrence, completeness, authorization, accuracy, cutoff, and classification. Control activities include segregation of duties, use of lock boxes, bank reconciliations, endorsement of checks, reconciliation of receipts to accounts, and use of a chart of accounts. Tests of controls include observation, inquiry, examination, testing of reconciliations, and tracing of transactions. The purpose is to identify risks and ensure cash receipts are properly received, recorded, and reported.

    Исходное описание:

    Summary of Assertions for Cash Receipts Transactions

    Оригинальное название

    Summary of Assertions for Cash Receipts Transactions Flashcards _ Quizlet

    Авторское право

    © © All Rights Reserved

    Доступные форматы

    PDF, TXT или читайте онлайн в Scribd

    Этот документ был вам полезен?

    Это неприемлемый материал?

    Пожаловаться на этот документ
    This document summarizes assertions related to cash receipts transactions. It lists possible misstatements, control activities, and tests of controls for the assertions of occurrence, completeness, authorization, accuracy, cutoff, and classification. Control activities include segregation of duties, use of lock boxes, bank reconciliations, endorsement of checks, reconciliation of receipts to accounts, and use of a chart of accounts. Tests of controls include observation, inquiry, examination, testing of reconciliations, and tracing of transactions. The purpose is to identify risks and ensure cash receipts are properly received, recorded, and reported.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    51 просмотров3 страницы

    Summary of Assertions For Cash Receipts Transactions Flashcards - Quizlet

    Загружено:

    William Susetyo
    This document summarizes assertions related to cash receipts transactions. It lists possible misstatements, control activities, and tests of controls for the assertions of occurrence, completeness, authorization, accuracy, cutoff, and classification. Control activities include segregation of duties, use of lock boxes, bank reconciliations, endorsement of checks, reconciliation of receipts to accounts, and use of a chart of accounts. Tests of controls include observation, inquiry, examination, testing of reconciliations, and tracing of transactions. The purpose is to identify risks and ensure cash receipts are properly received, recorded, and reported.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 3

    Summary of assertions for cash receipts transactions

    STUDY

    Flashcards

    Learn

    Write

    Spell

    Test

    PLAY

    Match

    Gravity

    Mach :PM: Possible misstatement, CA: Control Activity, TC: test of control to the Assertion Created by

    seanpaul_cottone

    Terms in this set (27)

    occurrence PM: Cash receipts recorded but not received or


    deposited

    occurrence CA: Segregation of duties

    occurrence CA: Use of lock box system

    occurrence CA: Monthly bank reconciliations prepared and


    independently reviewed

    occurrence TC: observation and evaluation of proper segregation


    of duties

    occurrence TC: inquiry of management about lock box policy

    completeness PM: cash receipts stolen or lost before recording


    occurrence CA: checks restrictively endorsed when received and
    daily cash list prepared

    occurrence CA: customer statements prepared on a regular basis

    occurrence TC: Observation of the endorsement of checks

    occurrence TC: Testing of reconciliation of daily cash receipts with


    posting to accounts receivable subsidiary ledger

    authorization PM: cash discounts not properly taken

    authorization CA: procedures specifying policies for cash discounts

    authorization TC: testing of a sample of cash receipts transactions


    for proper cash discounts

    accuracy PM: cash receipts recorded at incorrect amount

    accuracy CA: daily remittance report reconciled to control


    listing of remittance advices

    accuracy TC Review and testing of reconciliation

    accuracy CA: Monthly bank statements reconciled and


    independent reviewed

    accuracy TC: Examination of monthly bank reconciliation for


    independent review

    accuracy PM: cash receipts not properly posted to cash


    receipts journal, accounts receivable subsidiary
    ledger, and general ledger accounts

    accuracy CA: Account receivable subsidiary ledger reconciled


    to GL control acc

    cutoff PM Cash receipts recorded in wrong period

    cutoff CA: use of a lock box system or a control procedure


    to deposit cash receipts daily

    cutoff TC: examination of cash receipts for daily deposit

    classification PM: cash receipts recorded in wrong financial


    statement account

    classification CA: cart of accounts

    classification Tracing of cash receipts from listing to cash receipts


    journal for proper classification

    YOU MIGHT ALSO LIKE...

    STUDY GUIDE

    Series 7 Top-Off Exam CH 9 - Production Cycle PP


    Preparation | Knopman Marks 39 Terms
    Guide
    8 sets

    KnopmanMarks $44.99 sunnyday917

    Chapter 8 - Acquisition and AUDIT 470 CHAPTER 14


    Expenditure Cycle 37 Terms
    19 Terms

    ANDean xiaowen_aarons

    1/3

    Вам также может понравиться