4510 - 5

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Author:
yhliuaa
ID:
309757
Filename:
4510 - 5
Updated:
2015-10-17 13:54:32
Tags:
4510
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Description:
4510 - 5
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The flashcards below were created by user yhliuaa on FreezingBlue Flashcards. What would you like to do?


  1. Assertions about Classes of Transactions and Events (5)

    • Occurrence - have been occurred
    • Completeness - have been recorded
    • Accuracy - correct amount
    • Cut-off - correct accounting period
    • Classification- properly classified and recorded in the proper accounts

  2. Assertions about Account Balances(4)

    • Existence
    • Completeness
    • Rights and obligations - rights to assets and liabilities
    • Valuation and allocation - valuation or allocation adjustments are appropriately recorded

  3. Assertions about Presentation and Disclosures(4)
    Occurrence and rights and obligations

    Completeness

    Classification and understandability

    Accuracy and valuation

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