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ACC 492 - Week 1 - Complete

ACC 492 - Week 1 - Complete
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  • ACC 492 - Week 1 - DQ 1.doc
    ACC 492 - Week 1 - DQ 2.doc
    ACC 492 - Week 1 - DQ 3.doc
    ACC 492 - Week 1 - Summary.doc
    ACC 492 - Week 1 - Assignments from the Text.doc
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ACC 492 - Week 1 - Complete

DQ1.State two inherent risk factors that might motivate management to deliberately misstate revenues and receivables and two factors that might cause unintentional misstatements. Have you ever had experience with management trying to overstate/understate revenues?

 

DQ2.Discuss several management controls that may help ensure that all sales transactions are properly recorded. If you have sales where you work, please describe the controls in place to make sure all transactions are recorded.

 

DQ3.Explain the materiality and inherent risk associated with the personnel services cycle. What is the auditor’s usual audit strategy for this cycle? Why?

 

Individual Assignment - Assignments From the Text

Resource: Ch. 14 of Modern Auditing

 Dowload the Adobe® Reader® version of Ch. 14 to complete this assignment.

• Click on the link for Ch. 14 of Modern Auditing on the course website.

• Click Download eBook on the left-hand side of the page.

• Download Ch. 14 of Modern Auditing

Prepare written answers for the following assignments:

• Learning Check 14-4

• Comprehensive Question: 14-28 Controls over Cash Receipts Processing at a Church

• Comprehensive Question: 14-30 Substantive Tests of Accounts Receivable

 

Weekly Summary

Post a short summary of what you have learned this week.