CAST: An Integrated Auditing and AIS Simulation / Edition 1

CAST: An Integrated Auditing and AIS Simulation / Edition 1

by Frank A. Buckless, Laura R. Ingraham, James G. Jenkins
     
 

ISBN-10: 013045186X

ISBN-13: 9780130451866

Pub. Date: 04/16/2004

Publisher: Prentice Hall

CAST: Comprehensive Assurance & Systems Tool is an integrated practice set based on a real winery. Using actual source documents, users receive hands-on experience in preparing and using accounting information to complete an audit of the organization.

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Overview

CAST: Comprehensive Assurance & Systems Tool is an integrated practice set based on a real winery. Using actual source documents, users receive hands-on experience in preparing and using accounting information to complete an audit of the organization.

Product Details

ISBN-13:
9780130451866
Publisher:
Prentice Hall
Publication date:
04/16/2004
Edition description:
Older Edition
Pages:
150
Product dimensions:
8.12(w) x 11.02(h) x 0.90(d)

Table of Contents

CAST: AIS Simulation and Student CD

1. Prepare Various Common Documents Relating to Sales, Cash Receipts, Purchases, Cash Disbursements and Payroll.

2. Prepare Journal Entries.

3. Prepare Specialized Journal Entries.

4. Post Entries to Subsidiary Ledgers and General Ledgers.

5. Prepare Month-End and Year-End Reconciliation Documents, Trial Balances, etc.

6. Prepare Year-End Worksheet.
CAST: Auditing Simulation and Student CD

Excel Assignment

1. Introduction. 2. Creation of Financial Statements. 3. Reporting. 4. Journals. 5. Financial Statement Analysis. 6. Pivot Tables.

Peachtree Assignment

1. Set Up. 2. Transaction Entry. 3. Month-end/Year-end Procedures. 4. Financial Reports.

Access Assignment

1. Introduction to Database Concepts. 2. Creating a Database. 3. Creating Tables. 4. Creating Forms. 5. Creating Relationships. 6. Creating Reports.CAST: Integrated Auditing and AIS Simulation

Understanding the Business Environment and Related Risks

1. Company Information. 2. Industry Information.

Client Acceptance and Initial Audit Planning.

1. Company Background. 2. Industry Background. 3. Financial Statements and Basic Facts about the Company.

Obtain an Understanding of Control Activities and Tests of Controls for the Expenditure Cycle

1. Objectives of the Assignment. 2. Brief Background Information about the Company and Industry. 3. Brief Background Information about the Expenditure Cycle. 4. Assignment Requirements. 5. Audit Planning Program. 6. Flowcharts of Purchasing Activities. 7. Flowcharts of Cash Disbursement Activities. 8. Audit Schedule(s) for Control Activities. 9. Audit Schedule for Tests of Controls.10. Audit Schedule for Reportable Conditions.

Design of Substantive Tests of Transactions for the Expenditure Cycle

1. Objectives of the Assignment. 2. Brief Background Information about the Company and Industry. 3. Brief Background Information about the Expenditure Cycle. 4. Assignment Requirements. 5. Audit Planning Program. 6. Flowchart(s) of Purchasing Activities. 7. Flowchart(s) of Cash Disbursement Activities. 8. Audit Schedule(s) for Substantive Tests of Transactions.

Design Analytical Tests and Substantive Tests of Balances for the Expenditure Cycle

1. Objectives of the Assignment. 2. Brief Background Information about the Company and Industry. 3. Brief Background Information about the Expenditure Cycle. 4. Brief Background Information on How Accounts Payable Records are Maintained. 5. Assignment Requirements. 6. Audit Planning Program. 7. Audit Schedule(s) for Analytical Tests and Substantive Tests of Balances.

Develop an Overall Audit Strategy for the Expenditure Cycle

1. Objectives of the Assignment. 2. Brief Background Information about the Company and Industry. 3. Brief Background Information about the Expenditure Cycle. 4. Brief Background Information on Fraud and Control Environment Assessment. 5. Assignment Requirements. 6. Audit Planning Program. 7. Flowchart(s) of Purchasing Activities. 8. Flowchart(s) of Cash Disbursement Activities. 9. Audit Schedule(s) for Tests of Controls, Tests of Transactions, Analytical Tests, and Substantive Tests of Balances.10. Audit Schedule for Inherent Risk, Control Risk, and Detection Risk Assessment.11. Audit Schedule for Reportable Conditions and Material Weaknesses.

Performance of Tests of Controls and Transactions for the Revenue Cycle

1. Objectives of the Assignment. 2. Brief Background Information about the Company and Industry. 3. Brief Background Information about the Revenue Cycle. 4. Assignment Requirements. 5. Audit Performance Program. 6. Flowcharts of Sales Activities. 7. Flowcharts of Cash Receipt Activities. 8. Audit Program. 9. Audit Lead Schedule.10. Supporting Schedules for Audit Tests.11. Audit Schedule for Proposed Audit Adjustments.12. Sales Journal.13. Cash Receipts Journal.14. Selected Sales Documents.15. Selected Cash Receipt Documents.

Performance of Tests of Balances for the Revenue Cycles

1. Objectives of the Assignment. 2. Brief Background Information about the Company and Industry. 3. Brief Background Information about the Revenue Cycle. 4. Brief Background Information about How Accounts Receivable are Maintained. 5. Assignment Requirements. 6. Audit Performance Program. 7. Audit Program. 8. Audit Lead Schedule. 9. Supporting Schedules for Audit Tests.10. Audit Schedule for Proposed Audit Adjustments.11. Aged Accounts Receivable Trial Balance.12. Selected Accounts Receivable Confirmations.13. Sales Journal.14. Selected Sales Documents.15. Selected Cash Receipt Documents.

Completing the Audit

1. Final Analytical Procedures and Review of Supplemental Disclosures. 2. Potential Litigation. 3. Summary of Adjustments and Significant Audit Issues. 4. Mock Interview with Client Regarding Proposed Adjustments. 5. Issuance of Appropriate Audit Report.

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