ACCT7103:InClassActivities

Topic8:CompletingtheTestsintheSalesandCollectionCycle:
AccountsReceivable
(Arensetal.,2013Chapter13)

Activity13.27

PROCEDURE

1.

a.
TYPEOFTEST

b.
BALANCERELATEDAUDIT
OBJECTIVEFOREACHTEST
(1TO14)

Test of details of
balances

Existence and accuracy

Test of details of
balances

Cutoff

Substantive Test of
Transactions

Cutoff

Test of details of
balances

Accuracy and existence (may also include

realisable value if cash receipts examined are
for older accounts)

Substantive Test of
Transactions

Classification

Substantive Test of
Transactions

Rights

Test of details of
balances

Completeness

Test of control

Occurrence

Test of control

Accuracy

10

Substantive Test of
Transactions

Completeness

11

Test of details of
balances

Detail tie-in

12

Substantive Test of
Transactions

Detail tie-in

13

Test of details of
balances

Classification (related party receivables and

notes should be segregated from trade
receivables)

14

Test of details of
balances

Classification

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