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Unformatted text preview: with the money Erase entry in A/R master file but leave total gross. Hope nobody foots the master file. Erase entry in A/R master file reduce total A/R of master file. Hope no one compares the A/R master file balance with the A/R G/L balance. Lapping © W.R. Knechel Prioritize objectives for Revenue Process A/R - Existence and Valuation SR&A - Materiality Existence Authorization ship to salesmen return in January credit memo authorized? authorization of credit approval and price terms Allowance for Doubtful Accts - Validity and Authorization Sales Occurrence ex: supporting doc. monthly statement follow-up on complaints valuation SR&A, SD, write-offs...
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- Fall '08
- Generally Accepted Accounting Principles, invoice, A/R master file, W.R. Knechel, Foot A/R T/B