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Skip HeaderToggle navigationCourse HomeACCT638-99-1904BSkip NavigationSkip Class Navigation Assignment OverviewAssignment: Unit 5 – Individual ProjectType: Advanced Auditing Deliverable Length: See Assignment DetailsView objectives for this assignmentDetailsScenarioLearnReadMy Work Assignment DescriptionKey AssignmentPart A (from Unit 4)As an auditor, you must have a general understanding of the aspects of a company-both a financial and an operational perspective. This entails understanding the 5 business cycles processes of a company, which are as follows:RevenuePurchasingHuman ResourcesInventory ManagementFinancing/Investing Select 2 business cycles for which you will prepare an audit program. After you have selected the two business cycles, you will need to develop an assertion, possible error, control, and test step for each. You will complete the exercise with 2 5×4 charts. An example of the chart is as follows:AssertionPossible ErrorControlTest StepPart B (500-1,000 words) Discuss potential misstatements as they relate to your two business cycles. Determine how they would affect the audit as well as the report.Please submit your assignment.Assignment MUST BE IN APA FORMAT, HAVE IN-TEXT CITATIONS AND HAVE WEB REFERENCES AND TEXT REFERENCES Other InformationThe format of this assignment needs to be formatted like my Unit 4 Outline that I will attach or past here.
Unit Four Discussion Board I. IntroductionII. Transaction Periodsa. Examine all of the transaction periodsb. Address the issues of each transaction periods(Messier Jr, Glover, & Prawitt, 2017)III. Revenuea. Exchanges and Inventoryb. Administration for the consumersc. Transaction bills of salesd. Transaction accounts ledgerIV. Purchasing Cyclea. Discuss the reflections of what guarantee the provisions required concerning the organization.b. Acquiring securities or Funds c. The financial obligations stems fromd. Suppliers analysis solidnessV. Human Resourcesa. Secures subsidizing with the expenditure seriesb. Administers work to the generation periodc. Prepares documentation to the accounting log and recording frameworkVI. Inventory Managementa. Discuss in depth of what inventory management entails.b. Obtaining fundingc. Financial resourcesVII. Two Business Cyclesa. Create an assertionb. Create an possible errorc. Create an controld. Create an test stepVIII. Misstatementsa. Address the plausible misstatements that may occurb. Disadvantages this has on potential auditsIX. Conclusion ReferencesCFI Education Inc. (2018, July 5). Audit Sampling – Why Sampling is Used, Methods and Risks. Retrieved from https://corporatefinanceinstitute.com/resources/knowledge/accounting/audit-samplingLoughran, M. (n.d.). Important Auditing Vocabulary and Key Terms. Retrieved from https://www.dummies.com/business/accounting/auditing/important-auditing-vocabulary-and-key-termsMessier Jr, W., Glover, S., & Prawitt, D. (2017). Auditing & Assurance Services: A Systematic Approach (10th ed.). Retrieved from https://ebooksbvd.my-education-connection.com/read/9781260282917/chapter006_xhtml#ch6Word Count: 243Similarity Score (86%)Reply
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RE: UNIT 4 – DISCUSSION BOARDWed 12/11/2019 5:19 PM
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CandaceNice outline. You provided all the relevant sections. I appreciate the bullet points you provided for each section. I was hoping to see the 2 business cycles mention in your outline. Also, remember to use the format in the assignment details. Excel would be the best format to use when completing the project.Overall, you did a great job, I can’t wait to see your final project.Doc RocReply
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