SCREEN SCRIPT

Stock card Now, let’s proceed in auditing the inventory of J

marketing. The Company policy stated that
inventory level must not be lower than 50. The
total amount of inventory per count is not equal
to the amount per GL so I am required to
reconcile the inventory per log book and per GL. I
am also instructed to conduct additional audit
procedure aside from reconciliation so just like
on the sales audit, we need to import all the
necessary data – the stock card, cost list. And the
general ledger.
Stock card So first, we need to data cleanse the stock card
and this will be the result. After data cleansing, I
will reconcile first if the subsidiary ledger is equal
to general ledger.
Cost list Before reconciling, I need to identify first the
balance per subsidiary ledger so I copy the data
to the cost list sheet. Now I have inventory per
subsidiary ledger by using the sumif function in
the stock card.(show stock card)
Inventory per SL, stock card, codes Now we have the inventory SL and stock card as
our absolute reference and the codes as our
relative reference so we can have 55 inventories.
Inventory limit Next, we need to identify the inventory limit
because it was stated that the inventory count
should not below under 50 inventories. So, to
check if the inventory falls under the stated
inventory count, we can find it using the if
function. If the inventory in the subsidiary ledger
is greater than 50,then it is oKay but if not, it will
result “findings”
Point on the “findings” As you can see there are so many “findings” so
we need to filter it out and copy those findings
and paste in finding number 1.
Findings 1 Now we have the inventories for the findings
costlist Next, we will get the balance for the subsidiary
ledger since we have the necessary data.
Cost list We just need to multiply the cost and the
inventory per SL to get the balance per SL. Later
on, we can use the balance per SL in the
reconciliation (show reconcialiation sheet)
Reconciliation In the reconciliation, you just need to copy the
balance per SL from the cost list and get the
balance per GL by using the sumif function and
the absolute reference is the general ledger sheet
and the codes as our relative reference.
 Now, we have the balance per SL and the balance
per GL, we need to find if there is a difference
between the two balances and if there is, it will
be our findings number 2.
Findings 2 All the differences are copied and paste to a new
sheet and named it to findings number 2.
Total If we are to total all the findings, it will result to
5,940,392. And that’s it in auditing inventories.
Thank you!