Auditing Payroll Accounts скачать в хорошем качестве

Auditing Payroll Accounts

Once the auditor has a solid understanding of the payroll cycle, the auditor can identify (a) significant accounts and (b) relevant assertions. An account is significant if there is a reasonable chance it could contain a material misstatement. Significant accounts for the payroll cycle include: • Cash • Labor expense (direct labor, indirect labor, sales commission expense, G&A expense) • Inventory • Cost of goods sold • Payroll-related liabilities The auditor should also identify the relevant assertions management is making about payroll transactions and significant accounts. An assertion is relevant if there is a reasonable chance it could contain a misstatement that leads to the financial statements being materially misstated. Assertions about account balances include existence, rights and obligations, completeness, valuation, and classification. Assertions about payroll transactions include occurrence, completeness, authorization, accuracy, cutoff, and classification. 0:00 Introduction 0:24 Significant accounts 1:01 Considerations for manufacturers 2:09 Stock-based compensation expense 2:45 Relevant assertions 3:02 Assertions about account balances and transactions 3:20 Existence 4:16 Completeness 5:21 Authorization 5:49 Accuracy 6:11 Cutoff 6:16 Classification 7:23 PDF guide — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *  / prof_mclaughlin   — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/4WaNTqV... Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK   / prof_mclaughlin   — ACCESS INDEX OF VIDEOS https://www.edspira.com/index — CONNECT WITH EDSPIRA Facebook:   / edspira   Instagram:   / edspiradotcom   LinkedIn:   / edspira   — CONNECT WITH MICHAEL Twitter:   / prof_mclaughlin   LinkedIn:   / prof-michael-mclaughlin   — ABOUT EDSPIRA AND ITS CREATOR https://www.edspira.com/about/ https://michaelmclaughlin.com