Q1. What is the difference between the substantive analytical procedures and the substantive test of details?...

Q1. What is the difference between the substantive analytical procedures and the substantive test of details? Explain in detail and provide an example of each one.

Solutions

Expert Solution

ekkarill92 answered 5 months ago

Next > < Previous

Related Solutions

The following are common tests of details of balances or substantive analytical procedures for the audit...

The following are common tests of details of balances or substantive analytical procedures for the audit of accounts receivable: Select 10 customer accounts from the accounts receivable master file and trace to the aged accounts receivable listing to verify name and amount. Select 10 customer accounts from the aged accounts receivable listing and trace to the accounts receivable master file for name, amount, and aging categories. Obtain a list of aged accounts receivable, foot and cross-foot the list, and trace...

The following are common tests of details of balances or substantive analytical procedures for the audit...

The following are common tests of details of balances or substantive analytical procedures for the audit of accounts? receivable 1. Select 10 customer accounts from the accounts receivable master file and trace to the aged accounts receivable listing to verify name and amount. 2. Select 10 customer accounts from the aged accounts receivable listing and trace to the accounts receivable master file for? name, amount, and aging categories. 3. Obtain a list of aged accounts? receivable, foot and? cross-foot the?...

Explain Analytical procedures as substantive tests.

Distinguish between substantive test of transaction and test of details of balance. Also provide an example...

Distinguish between substantive test of transaction and test of details of balance. Also provide an example of each for acquition and payment cycle.

2. What do we mean by the term substantive analytical procedures? Give an example of how...

2. What do we mean by the term substantive analytical procedures? Give an example of how an auditor would perform an analytical procedure for acquisitions? 3. What substantive analytical procedures might an auditor use to perform an analytical procedure for accounts payable?

Discuss how analytical procedures can be used as substantive audit procedures to provide audit evidence. Illustrate...

Discuss how analytical procedures can be used as substantive audit procedures to provide audit evidence. Illustrate your answer with an example.

Describe two types of substantive analytical procedures often performed in the audit of the sales and...

Describe two types of substantive analytical procedures often performed in the audit of the sales and collection cycle and describe how they might indicate a possible misstatement in the financial statements. Identify and select the two types of substantive analytical procedures and then choose the possible misstatement in the financial statements. compare aging categories as a percentage of net income with previous years compare bad debt expense as a percentage of net sales with precvious years compare gross margin percentage...

Describe common substantive analytical procedures that would be used for account balances related to inventory.

what is the difference between analytical solution and FEA??

Persuasiveness of evidence from substantive analytical procedures Iman has the task of reviewing the evidence from...

Persuasiveness of evidence from substantive analytical procedures Iman has the task of reviewing the evidence from substantive analytical procedures conducted by the audit associates on the audit of Smalley Services Inc. The audit associates have reported the results of these substantive analytical procedures: 1. Comparison of depreciation expense with the closing balance of each depreciable asset class in property, plant, and equipment. 2. Recalculation of sales commission expenses using the standard sales commission rate and total sales. 3. Comparison of...

Subjects