Question
In: Accounting
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
ekkarill92 answered 1 year agoRelated 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.
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.
Describe common substantive analytical procedures that would be
used for account balances related to inventory.
what is the difference between analytical solution and FEA??
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...
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