ACC 492 - Week 3 - Complete

ACC 492 - Week 3 - Complete
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  • ACC 492 - Week 3 - DQ 1.doc
    ACC 492 - Week 3 - DQ 2.doc
    ACC 492 - Week 3 - DQ 3.doc
    ACC 492 - Week 3 - Apollo Shoe Case Assignment.doc
    ACC 492 - Week 3 - Application of learning objectives.doc
    ACC 492 - Week 3 - Assignments from the Text.doc
    ACC 492 - Week 3 - Summary.doc
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ACC 492 - Week 3 - Complete

DQ1.What internal control components are common among long-term assets, liabilities, and equity accounts? What components are unique to each? How can an auditor assess these controls?


DQ2.What are the key management assertions related to long-term assets and liabilities? What are the most important assertions related to long-term assets and liabilities? How will auditors test these assertions? 


DQ3.Identify three different value-added services that a CPA might perform for a client, related to the investment and financing cycles.


Individual Assignment - Assignments From the Text Resource:

Modern Auditing Prepare written answers to the following assignments

• Ch. 16: Comprehensive Question 16-26: Evaluation of Internal Controls – Raw Materials and Supplies Inventory

• Ch. 16: Comprehensive Question 16-29: Computer-Assisted Substantive Tests for Inventory


Learning Team Deliverable - Application of learning objectives  

Discuss this week’s assignments and learning objectives in the Learning Team Forum.


Write a summary of your team’s discussion and submit your summary to the Assignments link by Day 7. Make sure you discuss each member’s contribution to the discussions and the assignments. Include a title page that indicates that each member of the team has substantively participated in the discussions.


Learning Team Assignment - Apollo Shoe Case Assignment      

Resource: Apollo Shoe Case link in Week Three on the Materials page

Review the Planning section with emphasis on the Work paper Indexing, Trial Balances, and Apollo Shoes Minutes and the Accounts Receivable section with emphasis on the Audit of Accounts Receivable – confirmations.

Complete the Inventory audit section

Weekly Summary

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