If cut-off bank statement is not available to a cash-balance auditor, any other bank document that can used as the substitution?

Please identify and describe important internal controls over the cash disbursement cycle.

Please identify and describe important important internal controls over the cash receipt process.

What is voucher (in the A/P recognition process)? Why it is useful to corporate accountants?

Client's cash balance per book and cash balance per bank are often different and this difference is moistly driven by timing difference. Please list at least 3 factors which may create timing difference

When auditors audit A/R, they can send either positive confirmations or negative confirmation. Please tell me the differences between those two kinds of confirmations.

When auditors send two rounds of A/R confirmations and still receive no responses, audit standards allow them to use alternative audit procedures. Please list at least 4 useful documents

Auditors often use analytical procedures when they perform substantive tests of A/R accounts. please list at least 3 ratios that are useful to auditors.

How to review the year-end cutoff of sales transactions? Shall an auditors rely on client's invoices and dates on invoice document? why or why not?

Please tell me the two revenue recognition criteria under the current FASB revenue recognition standard( aka. The old FASB revenue recognition standard and briefly explain them.

Please explain the difference between FOB shipping point and FOB destination and the implication of this difference in revenue recognition ( tip difference in timing )

Under the new FASB revenue standard (effective after December 15, 2017 for publicly traded firms in the U.S. ) when revenue could be recognized?...

What are the key supporting documents involved in a credit sale transaction at manufacturing firm? Which department issue which document? Please list at least 4 document.

What is open order? What is remittance advice? What is credit memo?

When you audit manufacturing firms or retailers, why inventory is often the most vulnerable account that could subject to high risk of material misstatement? Do you have to worry about inventory account when you audit a local community bank? Why?...

Please identify and describe important internal controls over the credit purchase process (tip: Chapter 14, flowchart of a purchase system)...

How does the presence of perpetual records affect the audit? ( Tip from the professor: Unless there are well-controlled perpetual records, auditing standards require the auditor to observe the physical count of inventory at year-end. If the client has well-kept perpetual inventory records, the observation can correspond to the client's periodic counts if taken during its fiscal year)

For manufacturing firms, their inventories should be valued based on the lower of cost or market price. Please explain how to decide the market price? If the cost is higher than the market price, what kind of accounting adjustment a firm should make?