AUDITING+ASSURANCE 12MONTH ACCESS CARD
AUDITING+ASSURANCE 12MONTH ACCESS CARD
17th Edition
ISBN: 9780135635131
Author: ARENS
Publisher: WILEY
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Chapter 16, Problem 31DQP

a.

To determine

Identify and describe the two primary forms of accounts receivable confirmation requests and indicate what factors C will consider in determining when to use each.

b.

To determine

Describe how C may use a confirmation service provider to facilitate the process.

c.

To determine

Describe how C can evaluate collectability of the trade accounts receivable.

d.

To determine

Determine the implications to a CPA if, during an audit of accounts receivable, some of a client’s trade customers do not respond to a request for positive confirmation of their accounts.

e.

To determine

Determine auditing steps that should a CPA perform if there is no response to a second request for a positive confirmation.

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ABF's metal spare parts manufacturing company uses the customised production method by attributing the GST to the products it produces with the help of predetermined attribution coefficients. The processing of metal parts is carried out in two production departments: the Cutting and Drilling department, and the Assembly department. The GIS attribution coefficients for the two departments are based on the operating hours of machines and the cost of direct work respectively. At the beginning of the year, the following budgets were implemented:   Cutting and Drilling Department Assembly Department Direct Labor Costs (in euros) 1.320.000 2.000.000 G.B.E. (in euros) 4.800.000 2.400.000 Machinery Operating Hours 80.000 5.000 Direct Work Hours 27.000 12.000   Requested: To calculate the coefficient of attribution of the General Secretariat that will be used in each department. (4 units) To determine the production cost per unit for order 158 which…
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