Acc 410 Week 5 Final Paper Audit Plan Keystone Computers

In: Other Topics

Submitted By samanthariversab
Words 485
Pages 2
ACC 410 Week 5 Final Paper Audit Plan Keystone Computers

Purchase here

http://chosecourses.com/ACC%20410/acc-410-week-5-final-paper-audit-plan-keystone-computers

Description

The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 237-244 in your text.

Write, in outline format but in complete sentences, a 6 to 10 page audit plan. It is recommended that you look at Figure 18.8 on page 708, which shows the control objectives related to accounts receivable.

In your audit plan cover the steps necessary to determine if you should select the client, the internal control procedures which need to be reviewed, the substantive tests [using accounts receivable a guide], and the final reporting steps. Based on the actual facts in the case determine the emphasis you want to place on various accounts. Also reflect back over your entire accounting program and think about how the accounts are interrelated. For example, when allowance for doubtful accounts is credited the offset is to bad debt expense. Therefore one of the steps should be to trace the debit side of the entry to the balance for bad debt expense.

Make your comments as specific as possible. Rather than say look for unusual entries, say look for entries from unusual sources and rounded amounts with focus on those near an accounting cut off. Use precise language. Rather than saying you “vouched accounts payable,” say that you looked at the item to determine that it was a bona fide business expense. Remember to focus on the key audit objectives and support needed after applying the audit risk model.

Remember, the purpose of the Final Paper is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of accounting.

The Final Paper should focus on real life, real…...

Similar Documents

Acc 410 Complete Course /Week 1- 5/ Auditing/ Homework-Aid

...ACC 410 Complete Course /Week 1- 5/ Auditing Click Link below To Purchase: http://homework-aid.com/ACC-410-Entire-Course-Ash-Auditing-1590.htm?categoryId=-1 ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time reviewing controls but instead to concentrate on proving the......

Words: 2917 - Pages: 12

Acc 410 Complete Course /Week 1- 5/ Auditing/ Homework-Aid

...ACC 410 Complete Course /Week 1- 5/ Auditing Click Link below To Purchase: http://homework-aid.com/ACC-410-Entire-Course-Ash-Auditing-1590.htm?categoryId=-1 ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time reviewing controls but instead to concentrate on proving the......

Words: 2917 - Pages: 12

Acc 410 Complete Course /Week 1- 5/ Auditing

...ACC 410 Complete Course /Week 1- 5/ Auditing Click Link below To Purchase: http://homework-aid.com/ACC-410-Entire-Course-Ash-Auditing-1590.htm?categoryId=-1 ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time reviewing controls but instead to concentrate on proving the......

Words: 2917 - Pages: 12

Acc 410 Complete Course /Week 1- 5/ Auditing

...ACC 410 Complete Course /Week 1- 5/ Auditing Click Link below To Purchase: http://homework-aid.com/ACC-410-Entire-Course-Ash-Auditing-1590.htm?categoryId=-1 ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time reviewing controls but instead to concentrate on proving the......

Words: 2917 - Pages: 12

Acc 410 Complete Course /Week 1- 5/ Auditing

...ACC 410 Complete Course /Week 1- 5/ Auditing Click Link below To Purchase: http://homework-aid.com/ACC-410-Entire-Course-Ash-Auditing-1590.htm?categoryId=-1 ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time reviewing controls but instead to concentrate on proving the......

Words: 2917 - Pages: 12

Acc 410 Week 5 Final Paper Audit Plan Keystone Computers

...ACC 410 Week 5 Final Paper Audit Plan Keystone Computers http://www.homeworkwarehouse.com/downloads/acc-410-week-5-final-paper-audit-plan-keystone-computers/ ACC 410 Week 5 Final Paper Audit Plan Keystone Computers The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 237-244 in your text. Write, in outline format but in complete sentences, a 6 to 10 page audit plan. It is recommended that you look at Figure 18.8 on page 708, which shows the control objectives related to accounts receivable. In your audit plan cover the steps necessary to determine if you should select the client, the internal control procedures which need to be reviewed, the substantive tests [using accounts receivable a guide], and the final reporting steps. Based on the actual facts in the case determine the emphasis you want to place on various accounts. Also reflect back over your entire accounting program and think about how the accounts are interrelated. For example, when allowance for doubtful accounts is credited the offset is to bad debt expense. Therefore one of the steps should be to trace the debit side of the entry to the balance for bad debt expense. Make your comments as specific as possible. Rather than say look for unusual entries, say look for entries from unusual sources and rounded amounts with focus on those near an accounting cut off. Use precise language. Rather than saying you “vouched accounts payable,” say that you looked at the......

Words: 356 - Pages: 2

Acc 410 Entire Class /Week 1- 5/ Auditing

...ACC 410 Entire Class /Week 1- 5/ Auditing Click Link Below To Buy: http://hwcampus.com/shop/acc-410-ashford/acc-410-entire-class-week-1-5-auditing/ Or Visit www.hwcampus.com ACC 410 Complete Course /Week 1- 5/ Auditing ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time......

Words: 2931 - Pages: 12

Acc 410 Week 5 Acc410 Week 5

...ACC 410 Complete Course ACC410 Complete Course Click Link for the Answer : http://workbank247.com/q/acc-410-complete-course-acc410-complete-course/13508 http://workbank247.com/q/acc-410-complete-course-acc410-complete-course/13508 ACC 410 WEEK 1 DQ 1 INTERNAL VS. EXTERNAL AUDIT STAFFS Internal vs. External Audit Staffs. Spacecraft, Inc., is a large corporation that is audited regularly by a public accounting firm but also maintains an internal auditing staff. Explain briefly how the relationship of the public accounting firm to Spacecraft differs from the relationship of the internal auditing staff to Spacecraft. Do not forget to show the necessary steps and explain how you attained that outcome. Respondtoatleasttwoofyourclassmates’ postings ACC 410 WEEK 1 DQ 2 AUDIT REPORTS Audit Reports. Evaluate the following question: “If a CPA firm completes a nonpublic company audit of Adam Company’s financial statements following IACPA generally accepted auditing standards and is satisfied with the results of an audit, an unmodified report may be issued. On the other hand, if no audit is performed of the current year’s financial statements, but the CPA firm has performed satisfactory audits in prior years, has confidence in the management of the company, and makes a quick review of the current year’s financial statements, a qualified report may be issued.” Do you agree? Give reasons to support your answer. Do not forget to show the necessary steps and explain how you......

Words: 2485 - Pages: 10

Acc 410 Entire Class /Week 1- 5/ Auditing

...ACC 410 Entire Class /Week 1- 5/ Auditing Click Link Below To Buy: http://hwcampus.com/shop/acc-410-ashford/acc-410-entire-class-week-1-5-auditing/ Or Visit www.hwcampus.com ACC 410 Complete Course /Week 1- 5/ Auditing ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time......

Words: 2931 - Pages: 12

Acc 410 Week 5 Assignment Audit Report

...ACC 410 WEEK 5 ASSIGNMENT AUDIT REPORT To purchase this visit here: http://www.nerdypupil.com/product/acc-410-week-5-assignment-audit-report/ Contact us at: nerdypupil@gmail.com ACC 410 WEEK 5 ASSIGNMENT AUDIT REPORT Audit Report Modifications. Complete problem below. List a represents the types of opinions the auditor ordinarily would issue and List B represents the report modifications [if any] that would be necessary. Select as the best answer for each situation [items 1 to 6] the type of opinion and modifications, if any, the auditor would normally select. The types of opinions in List A and the report modifications in List B may be selected once, more than once, or not at all. The paper should be 2-3 pages. Problem: Items 1 through 6 present various independent factual situations an auditor might encounter in conducting an audit. For each situation assume: Assume: •The auditor is independent. •The auditor previously expressed an unqualified opinion on the prior year’s financial statements. •Only single-year (not comparative) statements are presented for the current year. •The conditions for an unqualified opinion exist unless contradicted in the factual situations. •The conditions stated in the factual situations are material. • • No report modifications are to be made except in response to the factual situation. Situations: 1. In auditing the long-term investments account, an auditor is unable to obtain audited financial statements for an investee......

Words: 1545 - Pages: 7

Acc 410 Week 5 Final Paper Audit Plan

...ACC 410 WEEK 5 FINAL PAPER AUDIT PLAN To purchase this visit here: http://www.nerdypupil.com/product/acc-410-week-5-final-paper-audit-plan/ Contact us at: nerdypupil@gmail.com ACC 410 WEEK 5 FINAL PAPER AUDIT PLAN The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 237-244 in your text. Write, in outline format but in complete sentences, a 6 to 10 page audit plan. It is recommended that you look at Figure 18.8 on page 708, which shows the control objectives related to accounts receivable. In your audit plan cover the steps necessary to determine if you should select the client, the internal control procedures which need to be reviewed, the substantive tests [using accounts receivable a guide], and the final reporting steps. Based on the actual facts in the case determine the emphasis you want to place on various accounts. Also reflect back over your entire accounting program and think about how the accounts are interrelated. For example, when allowance for doubtful accounts is credited the offset is to bad debt expense. Therefore one of the steps should be to trace the debit side of the entry to the balance for bad debt expense. Make your comments as specific as possible. Rather than say look for unusual entries, say look for entries from unusual sources and rounded amounts with focus on those near an accounting cut off. Use precise language. Rather than saying you “vouched accounts payable,” say that you looked at the......

Words: 1168 - Pages: 5

Acc 410 Entire Class /Week 1- 5/ Auditing

...ACC 410 Entire Class /Week 1- 5/ Auditing Click Link Below To Buy: http://hwcampus.com/shop/acc-410-ashford/acc-410-entire-class-week-1-5-auditing/ Or Visit www.hwcampus.com ACC 410 Complete Course /Week 1- 5/ Auditing ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time......

Words: 2931 - Pages: 12

Acc 410 Entire Class /Week 1- 5/ Auditing

...ACC 410 Entire Class /Week 1- 5/ Auditing Click Link Below To Buy: http://hwcampus.com/shop/acc-410-ashford/acc-410-entire-class-week-1-5-auditing/ Or Visit www.hwcampus.com ACC 410 Complete Course /Week 1- 5/ Auditing ACC 410 Week 1 Assignment Generally Accepted Auditing Standards Generally Accepted Auditing Standards. Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones resulted in a failure to comply with each standard. Organize your answer as shown below; specifically with a column for the standard that was violated and a column for the required action. The paper should be 2-3 pages. Problem: John Clinton, owner of Clinton Company, applied for a bank loan and was informed by the banker that audited financial statements of the business had to be submitted before the bank could consider the loan application. Clinton then retained Arthur Jones, CPA, to perform an audit. Clinton informed Jones that audited financial statements were required by the bank and that the audit must be completed within three weeks. Clinton also promised to pay Jones a fixed fee plus a bonus if the bank approved the loan. Jones agreed and accepted the engagement. The first step taken by Jones was to hire two accounting students to conduct the audit. He spent several hours telling them exactly what to do. Jones told the students not to spend time......

Words: 2931 - Pages: 12

Acc 410 Week 5 Assignment Audit Report Modifications Paper

...ACC 410 Week 5 Assignment Audit Report Modifications Paper To Buy This material Click below link http://www.uoptutors.com/acc-410-ash/acc-410-week-5-assignment-audit-report-modifications-paper Audit Report Modifications. Complete problem below. List a represents the types of opinions the auditor ordinarily would issue and List B represents the report modifications [if any] that would be necessary. Select as the best answer for each situation [items 1 to 6] the type of opinion and modifications, if any, the auditor would normally select. The types of opinions in List A and the report modifications in List B may be selected once, more than once, or not at all. The paper should be 2-3 pages. Problem: Items 1 through 6 present various independent factual situations an auditor might encounter in conducting an audit. For each situation assume: Assume: •The auditor is independent. •The auditor previously expressed an unqualified opinion on the prior year’s financial statements. •Only single-year (not comparative) statements are presented for the current year. •The conditions for an unqualified opinion exist unless contradicted in the factual situations. •The conditions stated in the factual situations are material. • • No report modifications are to be made except in response to the factual situation. Situations: 1. In auditing the long-term investments account, an auditor is unable to obtain audited financial statements for an investee located in a foreign......

Words: 754 - Pages: 4

Acc 410 Week 5 Final Paper Audit Plan Keystone Computers

...ACC 410 Week 5 Final Paper Audit Plan Keystone Computers To Buy This material Click below link http://www.uoptutors.com/acc-410-ash/acc-410-week-5-final-paper-audit-plan-keystone-computers The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 237-244 in your text. Write, in outline format but in complete sentences, a 6 to 10 page audit plan. It is recommended that you look at Figure 18.8 on page 708, which shows the control objectives related to accounts receivable. In your audit plan cover the steps necessary to determine if you should select the client, the internal control procedures which need to be reviewed, the substantive tests [using accounts receivable a guide], and the final reporting steps. Based on the actual facts in the case determine the emphasis you want to place on various accounts. Also reflect back over your entire accounting program and think about how the accounts are interrelated. For example, when allowance for doubtful accounts is credited the offset is to bad debt expense. Therefore one of the steps should be to trace the debit side of the entry to the balance for bad debt expense. Make your comments as specific as possible. Rather than say look for unusual entries, say look for entries from unusual sources and rounded amounts with focus on those near an accounting cut off. Use precise language. Rather than saying you “vouched accounts payable,” say that you looked at the item to determine that it...

Words: 362 - Pages: 2