Nature of Purchasing process.docx - Nature of Purchasing process(in nghi\u00eang l\u00e0 l\u1eddi d\u1eabn c\u1ea7n \u0111\u1ecdc k cho v\u00e0o slide The acquisition of goods and

Nature of Purchasing process.docx - Nature of Purchasing...

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- Nature of Purchasing process: (in nghiêng là l i d n c n đ c k cho vào slide) The acquisition of goods and services includes the purchase of raw materials, supplies, manufacturing equipment, furniture, and fixtures and payment for repairs and maintenance, utilities, and professional services. This process does not include hiring and paying employees or the internal allocation of costs within an entity. Many transactions processed through a typical purchasing process involve the recognition of an expense and its corresponding liability. As a result, the auditor should understand the basic underlying concepts of expense and liability recognition in order to audit the purchasing process: ( ho c nói luôn là - Nature of Purchasing process are expenses and liability.) - Expenses are outflows or other using up of assets or incurrences of from delivering or
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