Questions from Accounting for Government and Non-Profit

Q: Distinguish between internal documentation and external documentation as audit evidence and give

Distinguish between internal documentation and external documentation as audit evidence and give three examples of each.

Q: Explain the importance of analytical procedures as evidence in determining the fair

Explain the importance of analytical procedures as evidence in determining the fair presentation of the financial statements.

Q: Identify the most important reasons for performing analytical procedures.

Identify the most important reasons for performing analytical procedures.

Q: Your client, Harper Company, has a contractual commitment as a

Your client, Harper Company, has a contractual commitment as a part of a bond indenture to maintain a current ratio of 2.0. If the ratio falls below that level on the balance sheet date, the entire bo...

Q: What major characteristics of the organization and conduct of CPA firms permit

What major characteristics of the organization and conduct of CPA firms permit them to fulfill their social function competently and independently?

Q: Distinguish between attention-directing analytical procedures and those intended to eliminate

Distinguish between attention-directing analytical procedures and those intended to eliminate or reduce detailed substantive procedures.

Q: List the purposes of audit documentation and explain why each purpose is

List the purposes of audit documentation and explain why each purpose is important.

Q: Explain why it is important for audit documentation to include each of

Explain why it is important for audit documentation to include each of the following: identification of the name of the client, period covered, description of the contents, initials of the preparer, d...

Q: Define what is meant by a permanent file, and list several

Define what is meant by a permanent file, and list several types of information typically included. Why does the auditor not include the contents of the permanent file with the current year's audit fi...

Q: Distinguish between the following types of current period supporting schedules and state

Distinguish between the following types of current period supporting schedules and state the purpose of each: analysis, trial balance, and tests of reasonableness.