MR. ALAN'S STYLES.
MONSEY PRODUCTS CO
RALEIGH USA BICYCLE % NTA INC
DES CHAMPS WHITE
SAMUEL PLUMBING & HTG
PUERTO RICO HOSP SPLY
PHYSICIAN SALES & SVC INC
# a. Key Internal Control
b. Transaction Related Audit Objectives
c. Test of Control
d. Substantive Test of Transaction
Recorded acquisitions are for goods and services
actually received (occurrence).
Discuss segregation of duties
with personnel and ob
Client: Pinnacle Manufacturing
Audit Area: Tests of Controls and Substantive Test of Transactions-Acquisitions.
Define the Objective(s): Examine vendors' invoices, receiving reports, purchase orders, and other related documents
to determine whether the sy
Pinnacle Manufacturing Part III
A. Debt Covenants Pinnacle is not in compliance with its debt covenant for its long-term debt
due to its current ratio being less than 2.0 for the last two years.
B. Sale of Machine-Tech The board of
Pinnacle Manufacturing Part VII
1. Relationships Compare current listing of accounts payable with that of the previous audit and
note any significant changes in the amounts and makeup, such as changes in suppliers.
a. Accounts payable / Purc
Pinnacle Manufacturing Part II
External users reliance on financial statements:
Based on the financial statements, there is a large amount of debt. The financial statements
will be used by the external users. This is especially true since management is
Axia College Material
Appendix B Cash Management Matrix
Directions: Using the matrix, list how each of the principles of internal control works, and give an example for each. Next, list how each of the principles of cash management works, and give an exam