Question: I am looking for a sample memo summarizing the acquisitions and cash disbursement dual purpose test of controls and substantive tests of transactions for Valley

I am looking for a sample memo summarizing the acquisitions and cash disbursement dual purpose test of controls and substantive tests of transactions for Valley Publishing Company an audit case. Also a sample of the work papers and a list of adjusting journal entries. This is for Assignment 2 Test of controls and substantive test of transaction acquisition and disbursement cycle. I need a sample to help me start a substantive tests to determine occurrence of the recorded expenditure, whether the amounts recorded are accurate. I am not an auditor so I do not know what to ask. I need help trying to start the assignment.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Assignment #1 from Valley Publishing Company audit case, A control matrix for the acquisition and disbursement cycle. This should list the controls and weaknesses for the cycle keyed off the the...

I need to finish assignment Assignment 6 WPs 21-1, 21-2, 21-3, 21-5, 21-6, 21-17, 21-18, 21-19, 21-20, 21-21 Assignment 7 WPs 30-1, 30-2, 30-4, 30-5, 30-21, 30-22, 30-23, 30-24 Assignment 8 WPs 20-1,...

ACC555 FINAL EXAM NAME _______________________________ 1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts...

ASSIGNMENT 1 RISK ASSESSMENT, PRELIMINARY ANALYTICAL PROCEDURES, AND INTERNAL CONTROL EVALUATION Assume that you are a senior accountant on the staff of Baynes & Grey. You are preparing to perform a...

Please assist me with questions 2 and 3: 2A. Identify key deficiencies for acquisitions and for cash disbursements. After you decide on the deficiencies, include each deficiency in the bottom portion...

understandine you want GRATED CASE APPLICATION- ACLE MANUFACTURING: PART V of internal control and made an initial assessment of control risk for each transaction- 14-35 (OBJECTIVES 14-3, 14-5) In...

In Parts I and II of this case, you performed preliminary analytical procedures and assessed acceptable audit risk and inherent risk for Pinnacle Manufacturing. Your team has been assigned the...

can you help me completed audit program of test PRE Section 4 Audit Program and Workpapers.pdf X G File |...

REVIEW QUESTIONS 13-1 (ORJECTIvE Ia-) What is the purpose of risk assessment procedures and how do differ from the four other types of audit tests? evi- 13-2 OJECTIVE 13-n Can a system additional...

AUDITING AND ASSURANCE SERVICES - QUESTION 12 & 13 - PLEASE AND THANK YOU! (BOTH QUESTION ANSWERS MUST BE 100-200 WORDS LONG) 12. You purchased a company's stocks and you suffered a big loss as a...

The director of a management training program wants to test whether there is a positive association between an applicant's score on a test prior to her or his being admitted to the program and the...

The beginning inventory for Waldo Co and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold...

16.48 At a private university in southern California, 334 freshman (197 males and 137 females) reported their frequency of drinking alcoholic beverages and also completed a test of personality and...

Lawrence Weinbachfrom Unisys Corporation to Yankee Hill Capital Management This is a case about a rising-star leader who flew for a while, but fell. Unisys Corporation has been in business for more...

2. In this chapter, the reader should reflect on the following concepts:

1. To provide an understanding that a person in a communication situation conveys three things at the same time: their position, basic interests and values.

4. What is meant by the statement: We are extremely limited in our willingness to allow others to put their own case in a social situation?.