Udemy
    •  
    •  
    •  
    •  
    •  
    •  
    •  
    •  
Subscribe
Turn what you know into an opportunity and reach millions around the world.
Learn More
Your cart is empty.
Keep shopping
Financial Audit Procedures - Current Assets
Rating: 4.5 out of 5(1 rating)
19 students

Financial Audit Procedures - Current Assets

Learn HAW to test the Current Assets' accounts balances
Created byMk HAW
Last updated 11/2020
English

What you'll learn

  • Learn HAW to audit the accounts balances classified in the Current Assets
  • Learn HAW to audit Inventory: Quantity count, Pricing for Purchased and Produce stock, Fair value based on sales price and Obsolescence
  • Learn HAW to audit Account Receivables, Bad Debt Provision, Related Parties balances and Factor
  • Learn HAW to audit Cash & cash equivalent, including Bank reconciliation

Course content

1 section • 13 lectures • 4h 47m total length

  • Audit test - Current Assets Overview * n. 6.16:17
  • Audit test - Inventory Count & Tracing * n. 6.1123:04

    Audit tests verify inventory existence, location, and quantity through pre-count planning, during-count testing, and post-count reconciliation with cut-off and tracing of movements.

  • Audit test - Inventory Deposit * n. 6.1222:00
  • Audit test - Inventory Cut-off & In Transit * n. 6.1328:07
  • Audit test - Inventory: Obsolescence - Slow moving * n. 6.1429:01
  • Audit test - Inventory: Pricing for Purchased Stock * n. 6.1531:31
  • Audit test - Inventory: Pricing for Produced Stock * n. 6.1626:31

    Auditors perform pricing tests for produced stock, requiring understanding of business costs, unit price calculations, and allocation methods; they reconcile quantities, movements, and location data to validate inventory valuation.

  • Audit test - Inventory: Sales Unit Price * n. 6.1718:42

    demonstrates audit procedures to test inventory valuation by comparing finished product sales unit price to invoices and sales data, and assessing impairment when prices diverge.

  • Audit test - AR - Reply to Confirmation Letter & Alternative Procedure * n. 6.1816:32
  • Audit test - Account Receivables - Rollback & Rollforward on Confirmat * n. 6.1915:24
  • Audit test - Account Receivables - Bad Debt Analysis * n. 6.2021:36
  • Audit test - Account Receivables - Factor * n. 6.5225:15
  • Audit test - Financial - Cash & Bank Reconciliation * n. 6.2523:48

Requirements

  • No particular advanced knowledge required even if a basic knowledge of accounting and audit could improve the learning experience
  • Each course can be taken individually, but learning also from the others 10 HAW courses provide a complete understanding of the Financial Statement Audit process

Description

The Financial Statements Audit - Current Assets course teach how to test the following account balances:

-  Inventory: Inventory Count, Deposit confirmation letter, Cut-off & In transit material, Pricing of purchased and produced material, Obsolescence, Fair value based on sales price

-  Account Receivables: Reply to customer confirmation letter, Alternative procedure, Roll-back and roll-forward, Bad debt provision, Factor

-  Cash & Cash Equivalents: Reply to bank confirmation, Bank reconciliation, Cash count

-  Related Parties balances, including Intercompany reconciliation


The course is presented by the founder of HAW - How Audit Work that is an organization that provide audit related service, including teaching. The founder, Mk, is an auditor with soon 10 years audit experience in different countries (as US, UK, Netherlands and Italy) always working in Big4 audit firms.


Contact us by email, Facebook, LinkedIn or Youtube to know about the available multi-course promotions.


List of HAW - How Audit Work courses available:

1   -  Audit Planning

2   -  Accounting Procedures & Internal Controls

3   -  Confirmation Letter

4   -  Audit test - Non-curent Assets

5   -  Audit Test - Current Assets

6   -  Audit Test - Equity & Liabilities

7   -  Audit Test - Income Statement

8   -  Audit Test - All Others

9   -  Audit Operative Overview

10 -  Audit High Level Overview

11 -  Audit Summary

12 -  Audit Insight - Become & Evolve to be a Top Auditor - FREE

13 -  Audit Insight - Career & Lifestyle of Auditors - FREE

14 -  Audit Insight - Audit Perception & Career After Audit - FREE


Don't fall behind the best version of yourself and improve now your Audit skills !

"Just focus, learn & do it!" 

- Mk -

Who this course is for:

  • Student that want to understand what is the audit of financial statements and learn how to audit
  • Beginner and experienced auditor that need operative knowledge to perform an audit planning
  • Anyone that is interested to know what is an audit of the financial statements and what auditors do

Report abuse