Accounting department Archives

Which of the following internal control procedures most likely would be used to maintain accurate inventory records?

Posted on February 18, 2023 by Assessments

The following questions concern internal controls, and the testing of internal controls, in the inventory and warehousing cycle. Choose the best response. a. For control purposes, the quantities of materials ordered may be omitted from the copy of the purchase order that is (1) returned to the requisitioner. (2) forwarded to the receiving department. (3) […]

What transaction-related and balance-related audit objectives would the auditors be most concerned about based on the process currently in place?

Posted on February 11, 2023 by Assessments

Parts for Wheels, Inc., has historically sold auto parts directly to consumers through its retail stores. Due to competitive pressure, Parts for Wheels installed an Internet-based sales system that allows customers to place orders through the company’s website. The company hired an outside website design consultant to create the sales system because the company’s IT […]

Write a professional executive level mission statement representing an accounting department at a large corporation.

Posted on March 11, 2021 by Ambrose

Write a professional executive level mission statement representing an accounting department at a large corporation.

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Which of the following internal control procedures most likely would be used to maintain accurate inventory records?

What transaction-related and balance-related audit objectives would the auditors be most concerned about based on the process currently in place?

Write a professional executive level mission statement representing an accounting department at a large corporation.