Final Exam Review ACTG 460 PDF
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Uploaded by LeanYttrium
Chapman University
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Summary
This document contains a review of accounting and auditing concepts, including assertions, substantive procedures, and inventory valuation. It also includes free response questions about procedures and changing opinions in audit reports.
Full Transcript
Assertions -- substantive procedures Reviewing subsequent payment/after year end -- completeness Reviewing cash receipts -- existence Reviewing purchase documents to match inventory price - valuation Free response -- How do we do a procedure, what assertion does it relate to, what is the proced...
Assertions -- substantive procedures Reviewing subsequent payment/after year end -- completeness Reviewing cash receipts -- existence Reviewing purchase documents to match inventory price - valuation Free response -- How do we do a procedure, what assertion does it relate to, what is the procedure? Circumstances for changing opinion for audit report/general structure
