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L17 Notes_Part_14 - Are all PP&E owned by the company...

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Management’s Assertions: PP&E Does recorded PP&E actually exist? documentation and observation, Ex: Jefferson Ward authorization procedures to acquire new assets, capital budgeting committee, physical to actual periodically Are all existing PP&E recorded? (Leases, R & M expense
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Unformatted text preview: Are all PP&E owned by the company? Is PP&E correctly valued? accumulated depreciation, proper cost, impairment. Are PP&E transaction recorded in proper period? Are PP&E balances properly classified? financing leases, R&M, mfr. eq -> office equipment...
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