Audit Exam 2 revenue and collection cycle

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Author:
Anonymous
ID:
74435
Filename:
Audit Exam 2 revenue and collection cycle
Updated:
2011-03-22 04:56:03
Tags:
revenue collection audit
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Description:
assertions w4rjkm
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  1. Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
    Occurence
    sales/purchases and related events that have been recorded have occurred and pertain to the entity
  2. Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
    Completeness
    all sales/purchases and related events that should have been recorded have been recorded
  3. Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
    Accuracy
    Amounts and other data related to sales/purchase transactions and events have been recorded properly
  4. Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
    Cutoff
    Sales/purchases and related events have been recorded in the correct period
  5. Revenue and Collection cycle/Acquisition and Expenditure cycle assertions
    Classification
    Sales/purchases and related events have been recorded in the proper accounts

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