ACCT 444 Course Experience Tradition / snaptutorial.com

1
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
How do you think we build a future? I think we
build it by investing in our kids and investing
in education.
2
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Team Assignment Course Project
Group C Course Project Week 7 16-35   A.
Following are the relationships, ratios, and
trends that provide useful information about the
overall reasonableness of accounts payable
3
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 1 Homework 1-18, 2-19, 4-22, 26-25
ACCT 444 Week 1 Homework 1-18, 2-19, 4-22, 26-25
4
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 1 Quiz
1. (TCO 3) The organization that is responsible
for providing oversight for auditors of public
companies is called the _____   2. (TCO 1) Which
one of the following is not a field work
standard?   3. (TCO 1) Which of the following is
not an example of the application of professional
skepticism?
5
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 2 Homework Problems
Chapter5 5-23, Chapter5 5-24, Chapter 6 6-23,
Chapter 6 6-27,Chapter 11 11-30,
6
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 2 Quiz
1. (TCO 4) In connection with the audit of
financial statements, an independent auditor
could be responsible for failure to detect a
material fraud if 2. (TCO 4) "Absence of
reasonable care that can be expected of a person
is a set of circumstances" defines 3. (TCO 4)
While performing services for their clients,
professionals have a duty to provide a level of
care that is
7
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 3 Course Project
ACCT 444 Week 3 Course Project
8
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 3 Homework Problems
7-27 (Objective 7-4) The following are examples
of documentation typically obtained by
auditors 7-30 (Objective 7-4) Eight different
types of evidence were discussed. The following
questions concern the reliability of that
evidence 7-31 (Objective 7-4) As auditor of the
Star Manufacturing Company, you have
obtained 8-22 (Objective 8-7) Gale Gordon, CPA,
has found ratio and trend analysis relatively
useless as a tool in conducting audits.
9
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 3 Homework
ACCT 444 Week 3 Homework
10
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 3 Quiz
1. (TCO 6) Which of the following statements
regarding documentation is not correct?   2. (TCO
6) When analytical procedures reveal no unusual
fluctuations, the implication is that   3. (TCO
6) The primary purpose of performing analytical
procedures in the testing phase of an audit is to
11
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 4 Course Project
  ACCT 444 ACCT/444 ACCT 444 Week 4 Course Project
12
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 4 Homework Problems
ACCT 444 Week 4 Homework Problems
13
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 4 Quiz
1. (TCO 5) Which of the following parties
provides an assessment of the effectiveness of
internal control over financial reporting for
public companies?  2. (TCO 5) Internal control
reports issued by public companies must identify
the framework used to evaluate the effectiveness
of internal control. Which of the following is
the most common framework in the U.S.?  3. (TCO
5) Management's tests of operating effectiveness
might include which of the following types of
procedures?
14
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 5 Course Project
ACCT 444 Week 5 Course Project
15
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 5 Homework Problems
13-26 (Objectives 13-1, 13-2, 13-3, 13-6)The
following are audit procedures from different
transaction cycles 1. Use audit software to foot
and cross-foot the cash disbursements journal and
trace the balance to the general ledger. 2.
Select a sample of entries in the acquisitions
journal and trace each one to a related vendors
invoice to determine whether one exists. 3.
Examine documentation for acquisition
transactions before and after the balance sheet
date to determine whether they are recorded in
the proper period
16
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 5 Quiz
1. (TCO 6) For efficiency, tests of controls are
frequently done at the same time as   2. (TCO 6)
Which of the following is not a direct result of
performing analytical procedures?   3. (TCO 6)
Which of the following audit tests is usually the
most costly to perform?  
17
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 5 Team Memorandum
ACCT 444 Week 5 Team Memorandum
18
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 6 Homework Problems
Homework Chapter 14, pages 468469 Problems
14-21, 14-22, 14-23, and 14-24 Chapter 15, pages
509511 Problems 15-22, 15-24 and 15-25 Chapter
16, pages 543545 Problems 16-20, 16-21, 16-22,
and 16-24 Chapter 17, page 594 Problem 17-28
19
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 6 Quiz
1. (TCO 9) If the auditor decides to assess
control risk at the maximum level in a private
company audit, tests of controls are   2. (TCO 9)
When auditors wish to evaluate a sample
statistically, the only acceptable selection
method is   3. (TCO 9) One of the ways to
eliminate nonsampling risk is through
20
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 7 Course Project
Pinnacle Manufacturing Part VII  Assume that your
understanding of internal controls over
acquisitions and cash disbursements and the
related tests of controls and substantive tests
of transactions support an assessment of a low
control risk. The listing of the 519 accounts
making up the accounts payable balance of
12,969,686 at December 31, 2011 is included
under the Pinnacle link on the textbook Web
site.16-35 (Objectives 16-2, 16-3, 16-4)Parts III
21
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 7 Homework Problems
3-27 (Objectives 3-1, 3-2, 3-4, 3-6, 3-7)Patel,
CPA, has completed the audit of the financial
statements of Bellamy Corporation as of and for
the year ended December 31, 2011. Patel also
audited and reported on the Bellamy financial
statements for the prior year. Patel drafted the
following report for 2011. 3-32 (Objectives 3-1,
3-2, 3-4) The following tentative auditors
report was drafted by a staff accountant and
submitted to a partner in the accounting firm of
Better Best, CPAs
22
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 7 Homework
ACCT 444 Week 7 Homework
23
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 7 Quiz Set 2
1. (TCO 2) If a misstatement is immaterial to the
financial statements of the entity for the
current period, but is expected to have a
material effect in future periods, it is
appropriate to issue a(n) 2. (TCO 2) When the
auditor believes a company's financial statements
are misleading because they were not prepared in
conformity with GAAP, the auditor must issue
a(n) 3. (TCO 2) When qualifying an opinion
because of an insufficiency of audit evidence, an
auditor should refer to the situation in the
24
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
ACCT 444 Week 7 Quiz
1. (TCO 2) When determining whether an exception
is highly material the extent to which the
exception affects different elements of the
financial statements must be considered. This
concept is called  2. (TCO 2) When a client has
not applied GAAP consistently from the prior year
to the current year, the auditor does not concur
with the appropriateness of the change, and the
change in GAAP has a material effect on the
financial statements, the auditor should issue
a(n)  3. (TCO 2) The only unqualified opinion
which contains modified wording (excluding an
explanatory paragraph) relates to
25
ACCT 444
www.snaptutorial.com
ACCT 444 Course Experience Tradition
How do you think we build a future? I think we
build it by investing in our kids and investing
in education.
For more best Courses / Tutorials
Visit Now
www.snaptutorial.com