1. Initial audit planning involves four matters. Which of the following is not one of these?
a. Develop an overall audit strategy
b. Request that bank balances be confirmed.
c. Schedule engagement staff and audit specialist.
d. Identify the clients r
TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
ON-THE-JOB TRAINING / PRACTICUM WEEKLY REPORT
Jolie V. Catina
PHILIPPINE PIZZA INC.
D A I LY W O R K A C T I V I T I E S
In regard to personal financial planning, is the
purpose a particular portfolio serves for the
individuals or the investment advisory clients
financial needs. Once the objective is
determined, it will then dictate what particular
Rambuyon, Christine Diane M.
October 7, 2016
CHAPTER 7 The Conversion Cycle
There are different types of business one can engage into. One of those is
manufacturing. Manufacturing company transforms (converts) input resources, such
Tax Remedies Quizzer
1. Which is not a taxpayers remedy after paying a tax?
a. Claim for Tax credit
b. Claim for Tax refund
c. Motion for reinvestigation
d. Criminal action against corrupt revenue officer
2. Which is not a government remedy
1. "Code of Ethics" for which is none Senior Financial Officer?
2. Management is accountable for the short-term planning and coordination of activities
necessary to finish organizational objectives.
3. Management is responsible for longer-te
THE AWESOME NOTES
Page 1 of 14
I. GENERAL PRINCIPLES
A. DEFINITION AND CONCEPT
is the power by which
the sovereign raises revenue
to defray the expenses of the
is a way of apportioning the cost of
government among t
1.) _ provides the internal financial information needed
to manage a business
d.) none of the above
6.) receipt of cash by the seller in payment of the accounts
a.) Physical Phase
b.) Financial Phase
c.) Delivery Phas
"Code of Ethics" for which is none Senior Financial Officer CONFLICT OF
INTEREST, FULL AND FAIR DISCLOSURE, LEGAL COMPLIANCE, INTERNAL
NONFINANCIAL TRANSACTIONS are events that do not meet the narrow
definition of a financial tra
Knowledge Engineer / Reviewer:
ARIEL C. NACION
Home of Topnotch Professionals!
MULTIPLE CHOICE QUESTIONS
It involves establishing the overall audit strategy for the engagement
and developing an audit plan.
The Accountancy Law provided that a CPA certificate
may be suspended or revoked on grounds except
a. Immoral or dishonorable conduct.
b. Gross negligence or incompetence in the practice
c. Refusal to acc
To learn what the conversion cycle
business activities are.
To learn how to flow chart the
conversion cycle business activities.
To understand the processing of
conversion cycle transactions using
To know the control practi
Accounting Information Systems
The Conversion Cycle
Dr. Hisham Madi
The Conversion Cycle
Transforms input resources, raw materials,
labor, and overhead into finished products or
services for sale
Consists of two subsystems:
June 22, 2017
1. Basic Elements of Data Processing System
Input - the information entered into a computer system, examples include: typed text, mouse
Process - the process of transforming input inform
Audit of the Revenue and Collection Cycle:
Tests of Controls and Substantive Tests of
Audit Plan: Revenue and Collection Cycle
Audit Scope: Revenue and Collection Cycle
Objectives relating to Revenue and Collection Cycle =
Stocks are literally certificates that say you
own a portion of a company. More broadly
speaking, all traded securities,
from futures to currency swaps, are ownership
investments, even though all you may own is
a contract. When you buy one of these
Sta. Elena High School
Senior High School Department
September 5th, 2016
City Council/ Barangay Council
We are Grade 11 Humanities and Social Sciences students of Sta. Elena High
school. A particular subject of ours is Philippines Politics
Assessment of Control Risk
Which of the following is ordinarily considered a test of
internal control procedures?
confirmation letters to banks.
and list cash on hand.
signatures on checks.
THEORETICAL AND CONCEPTUAL PARADIGM
S OF INTERNAL
Hello hello grabe lang talaga yung nangyare kanina? Ewan ko may
urge lang ako itype to wala lang ano bang nangyare ang saya naman natin
kasi. Napapaisip ako na wala ba talaga akong tunay na kaibigan o sadyang
hindi lang ako sumusunod sa flow ng mundo? Bak
ASSESSMENT OF EFFECTIVENESS OF INTERNAL CONTROL IN
GOVERNMENT MINISTRIES: A STUDY OF BENUE STATE
MINISTRY OF FINANCE.
This study tackles the importance of evaluating the effectiveness of internal control
system in government ministries (units).
Audit Evidence and Audit Programs
The permanent file section of the working papers
kept for each audit client most likely contains
a. Review notes pertaining to questions and
regarding the audit work
b. A sc
The basic concept of internal control which recognizes that
the cost of internal control should not exceed the benefits
expected to be derived is known as
Management by exception.
Chapter 4 Audit Evidence and Audit Programs
Audit Evidence and Audit Programs
The permanent file section of the working papers that is
for each audit client most likely contains
Review notes pertaining to questions and comments
Auditing, Attestation, and Assurance
The single feature that most clearly distinguishes auditing,
attestation, and assurance is
Type of service.
Training required to perform the service.
Scope of services.
CPAs approach to the service.
SBMF International Marketing Inc.
#13 Peaceful Lane Sanville Subd., Brgy. Tandang Sora, Quezon City
January 8, 2015
195 Eulogio Rodriguez Jr. Ave, Bagumbayan,
Our Independent auditor, Gloria S. Delos Reyes, CPA, is auditing our fina
1) Engagement Letter (identify the parts)
2) How to better understand the clients business?
WHY We Need to Know the Client's Business ?
Obtaining an understanding of the clients business is key to an effective and efficient audit. It enables us
not only t
DETERMINE APPROPRIATE RESPONSES TO IDENTIFIED RISKS OF
MATERIAL MISSTATEMENT FOR REVENUE CYCLE ACCOUNTS,
DISCLOSURES, AND ASSERTIONS
Responding to Identified Risks of Material
Develop an audit approach that contains
substantive procedures an