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Audit of Cash Balances

Learning Objective 1. Show the relationship ofcash in the bank to thevarious transaction cycles.. Relationships of Cash in the Bank and Transaction Cycles. Cash in Bank. Capital Stock

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Audit of Cash Balances

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    1. Audit of Cash Balances Chapter 23 Final step of sales cycle – cash reciept – debit cash, cr. A/R. Remember CASH affected by almost every other cylce – financing, payroll, inventoryFinal step of sales cycle – cash reciept – debit cash, cr. A/R. Remember CASH affected by almost every other cylce – financing, payroll, inventory

    2. Learning Objective 1

    3. Relationships of Cash in the Bank and Transaction Cycles

    4. Relationships of Cash in the Bank and Transaction Cycles

    5. Relationships of Cash in the Bank and Transaction Cycles

    6. Relationships of Cash in the Bank and Transaction Cycles

    7. Cash in the Bank and Transaction Cycles

    8. Cash in the Bank and Transaction Cycles

    9. Cash in the Bank and Transaction Cycles

    10. Learning Objective 2

    11. Types of Cash Accounts

    12. Relationship of General Cash to Other Cash Accounts

    13. Learning Objective 3

    14. Methodology for Designing Tests of Balances – Cash In the Bank

    15. Methodology for Designing Tests of Balances – Cash In the Bank

    16. Methodology for Designing Tests of Balances – Cash In the Bank

    17. Audit Schedule for a Bank Reconciliation

    18. Audit Tests Confirm Balance per Bank. Deposits in Transit – sample from listing – trace sample from listing to cutoff of Jan. bank statement plus trace to cash remittance doc (pre-12/31?). Existence/Cutoff test. O/S Checks – sample (search) from reductions on cutoff or Jan. bank statement, obtain check – if pre-12/31 – trace to O/S check listing. If post 12-31, is it properly excluded? Completeness/Cutoff test.

    19. Audit Schedule for a Bank Reconciliation

    20. Audit Tests Trace all reconciling items to December bank statement. Review December statement for items missed. Trace all adjustments for Balance for Books to general ledger. Make sure final balance per accounting = $ 66,525

    21. Existence, Accuracy, and Completeness

    22. Learning Objective 4

    23. Tests of Interbank Transfers – Fig 23-7 p. 748

    24. Tests of Interbank Transfers – Fig 23-7 p. 748

    25. End of Chapter 23

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