One type of descriptive analytics is age analysis. Why are auditors particularly interested in the aging of
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One type of descriptive analytics is age analysis. Why are auditors particularly interested in the aging of accounts receivable and accounts payable? How does this analysis help evaluate management judgment on collect ability of receivables and potential payment of payables? Would a dashboard item reflecting this aging be useful in a continuous audit?
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Managers use the aging of accounts receivable to estimate the bad debt expense ...View the full answer
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