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ste B I U OA 2 O Delete $ % ) Conditional Format Cell Formatting as Table Styles Format x fox REQUIRED: IDENTIFY THE ACCOUNTS AND ASSERTION[SFOR EACH CONDITION (Some situations may affect more than one assertion class) IDENTIFY THE ACCOUNTS/TRANSACTIONS STREAMS AFFECTED. CONDITION IDENTIFY THE ACCOUNTS/TRANSACTIONS STREAMS AFFECTED. AFFECTED ASSERTIONIS EXAMPLE The accounting department's chief bookkeeper handles and processes cash receipts. By deferring the recording of cash received from customers, the bookkeeper can conceala cash shortage. This is done by applying cash received from one customer to the account of another customer who has already made a payment. As long as there is a steady payment stream by customers, cash can be pulled out" of the stream and covered by subsequent payments. CASH ACCOUNTS RECEIVABLE CASH-COMPLETENESS A/R - EXISTENCE 1. The vales department has septed and entered into orders with customers whose credit is questionable and who are in default Management has not properly provided for bad d. Client billed customer for goods that it did not ship, a bill and hold situation to which the customers did not wee Misstatement Conditions Procedures Riskiness + Ready HIE tv AA REQUIRED: IDENTIFY THE ACCOUNTS AND ASSERTION(S) FOR EACH CONDITION (Some situations may affect more than one assertion class) IDENTIFY THE ACCOUNTS/TRANSACTIONS STREAMS AFFECTED. CONDITION IDENTIFY THE ACCOUNTS/TRANSACTIONS STREAMS AFFECTED. EXAMPLE The accounting department's chief bookkeeper handles and processes cash receipts. By deferring the recording of cash received from customers, the bookkeeper can conceal a cash shortage. This is done by applying cash received from one customer to the account of another customer who has already made a payment. As long as there is a steady payment stream by customers, cash can be pulled out" of the stream and covered by subsequent payments. CASH ACCOUNTS RECEIVABLE b. The sales department has accepted and entered into orders with customers whose credit is questionable and who are in default. Management has not properly provided for bad debts. d. Client billed customer for goods that it did not ship, a bill-and-hold situation to which the customers did not agree 2 IDENTIFY THE ACCOUNTS/TRANSACTIONS STREAMS AFFECTED. IDENTIFY THE ACCOUNTS/TRANSACTIONS STREAMS AFFECTED. AFFECTED ASSERTIONISI thief ipts. of CASH ACCOUNTS RECEIVABLE CASH-COMPLETENESS A/R - EXISTENCE ment credit For bad not stomers LO BI U y A x V fx B REQUIRED: IDENTIFY THE ACCOUNTS AND ASSERTION[S] FOR EACH CONDITION (Some situations may affect more than one assertion class) CONDITION EXAMPLE The accounting department's chief bookkeeper handles and processes cashreceipts. By deferring the recording of cash received from customers, the bookkeeper can conceal a cash shortage. This is done by applying cash received from one customer to the account of another customer who has already made a payment. As long as there is a steady payment stream by customers, cash can be "pulled out" of the stream and covered by subsequent payments. b. The sales department has accepted and entered into orders with customers whose credit is questionable and who are in default. Management has not properly provided for bad debts. 1 d. Client billed customer for goods that it did not ship, a bill-and-hold situation to which the customers did not agree 2 Misstatement Conditions Proced