sales cutoff test (what can it detect?) *
lapping concept most effective way to detect * kiting nature of and how to test for * evidence regarding year end cash balances auditing cash best primary evidence * common procedures for testing completeness of cash * Chapter 11 AP and Inventory (BISK Ch 26) e.g. ap confirms and GAAS * ap confirms and audit objectives search for unrecorded liabilities approach audit objective cutoff tests * what can it detect * using test counts inventory valuation how to test LCM test * purpose of testing standard overhead rates * physical inventory typical controls audit objectives inventory listing purpose of tests inventory turnover how to calculate what does it tell you reasons for inventory turnover ratio change Chapter 13 Fixed Assets section only (BISK Ch 26) e.g. testing property and equipment transactions (including like-kind exchanges * testing depreciation Chapter 15 Completing the Audit (part of BISK Ch 25) eg legal rep letter nature and content * management representation letters purpose
