How do the independent auditors use the clients backlog of unfilled sales orders in the examination of

Question:

How do the independent auditors use the client’s backlog of unfilled sales orders in the examination of inventories?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Auditing and Other Assurance Services

ISBN: 978-0078025617

19th edition

Authors: Ray Whittington, Kurt Pany

See More Books

Question Posted: Oct 27, 2014 04:56 AM

See More Questions

How is an auditors examination affected when a client has engaged in significant related-party transactions? What measures should an auditor take to determine that such transactions have been...
What part, if any, do the independent auditors play in the planning for a clients physical inventory?
Auditors often use client budgets for revenue and expenses as part of their substantive testing. Explain how and why this is done.
Engineers observe that about 90% of graphite samples fracture within five hours when subjected to a certain stress. (a) If the time to fracture is modeled with an exponential distribution, what would...
Here the same stone is being accelerated vertically upward. (a) Draw force vectors to some suitable scale showing relative forces acting on the stone. (b) Which is the longer vector, and why?
Find Vbd in the circuit shown. + 4V- 12 V 2 V
A common procedure in metallurgy is solidification from a melt in a cylindrical mold. If the Jacob number is small we can use the pseudo-steady-state model, which should now include the conduction in...
The City of Monroe maintains a Water and Sewer Fund to provide utility services to its citizens. As of January 1, 2017, the City of Monroe Water and Sewer Fund had the following account balances:...
What should be the current price of a stock if the expected dividend is $5, the stock has a required return of 10 percent, and a constant dividend growth rate of 3 percent?
Olympiakos, SA, provides outsourcing services and advice to both government and corporate clients. For costing purposes, Olympiakos classifies its departments into two support departments...
If the auditors can determine that all goods in the physical inventory have been accurately counted and properly priced, they will have discharged fully their responsibility with respect to...
Enumerate specific steps to be taken by the auditors to ascertain that a clients inventories have not been pledged or subjected to a lien of any kind.
Special software might keep track of web-pages that employees download to their PCs. Do you think this practice violates employee privacy?
With which of the following gatekeepers did WorldComs Bankruptcy Examiner find fault? (a) The board of directors. (b) The investment banking company. (c) Both (a) and (b). (d) None of the above.
Which of the following would not be a signal that a company may have understated its reserve for doubtful debts? (a) Accounts receivable increases as a percentage of sales. (b) The reserve for bad...
WorldCom passed journal entries after the close of each quarter: (a) To reduce line costs incurred. (b) To overstate the property, plant, and equipment. (c) Without any supporting documents and...
Unusually long periods for depreciation of assets is a sign of fictitious reporting in Livents case. True/False
Which of the following is not a signal of overstatement of earnings by improper use of merger reserves? (a) When goodwill on acquisition relates to a company that does not have or is unlikely to have...
What is the magnitude of the centripetal acceleration of a car following a curve of radius 500 m at a speed of 25.0 m/s (about 90 km/h)? Compare the acceleration with that due to gravity for this...
X-1 Find the domain of the function f(x) : x 1 2 - O (-00, -1) U (-1, ) O (-00, 1) U (1, ) O -00, -1) U (-1, 1) U (1, 0) O (- 1, 1)
The current price of a stock is $$25$ per share. You have $$10$,000 to invest. You borrow an additional $$10$,000 from your broker and invest $$20$,000 in the stock. If the maintenance margin...
How can a proof of cash reveal unrecorded cash deposit and cash payment transactions?
In Case 6.1, if the petty cash custodian were replaced and the frequency of fund reimbursement decreased from every two days to every four days, what might you suspect?
What is the difference between a normal procedure and an extended procedure?
The Morrit Corporation has $1,200,000 of debt outstanding, and it pays an interest rate of 8% annually. Morrit's annual sales are $6 million, its average tax rate is 25%, and its net profit margin on...
As an Investor, if I purchase a Corp Bond with a Coupon rate of 9%, and I am in the 30% tax bracket, effectively what rate will I be earning? Hint: If I purchased a Muni-Bond with an 8% Coupon rate,...
How can performance management systems be used to identify and nurture high-potential talent within the organization ?

How do the independent auditors use the clients backlog of unfilled sales orders in the examination of

Question:

Step by Step Answer:

The independent auditors utilize the clients backlog of unfill...View the full answer

Principles of Auditing and Other Assurance Services

Students also viewed these Auditing questions