Colegio de San Gabriel Arcangel, Inc.

Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686

READING REPORT in: COGM2 AUDITING AND ASSURANCE:

CONCEPT AND APPLICATION 1
(Subject Code & Description)
Date: DECEMBER 10, 2022

The title of the book/ article I have read is: Completing the Audit by accaglobal.com

AUTHOR’S LOGIC: The author is conveying the message/idea of:

Example: “Green” branding of businesses has gone too far and no longer carries the same sort of impact it
once did. Today, so many people are concerned with the environment that many businesses try to represent
themselves as being “green.” They want to have a reputation for being environmentally conscious.
The completion stage of the audit is of crucial importance. It is during the completion stage that the
auditor reviews the evidence obtained during the audit together with the final version of the financial
statements with the objective of forming the auditor’s opinion. This article explores some of the key
requirements of International Standards on Auditing (ISA) that are relevant at the completion stage,
and discusses the practical implications of those requirements.

STUDENT’S LOGIC: Provides learners with an opportunity to reflect and think about how they actually solve problems and
how a particular set of problem solving strategies is appropriate for achieving their goal. What is to be accomplished/learned?
Example: In support of the Supermarket “Green” initiatives, I bring my own shopping bags for grocery shopping and
say no to plastic bags.

By the knowledge that I gained Once the various business processes, controls, and related financial
statement accounts have been audited, the evidence is summarized and evaluated. Before determining
the appropriate audit report, the auditor considers a number of additional issues that may impact the
client’s system of internal control over financial reporting and financial statements. The auditors’
report should not be dated prior to the date they have gathered sufficient, appropriate evidence. This
date is often the last day of fieldwork but it may be a later date.

VISION: MAN OF GOD – VIR ENIM DEI. “A leading transformational leadership institution with a unique
Gabrielian Culture of Discipline, Socially Responsible, Interdependent, Functionally Productive, Godly
Individuals and reaching the marginalized to thrive in the global community.
In aligning to the Vision and Mission of the College, I can apply what I have learned from my readings by:
Example: Being more aware about eco-friendly practices you can adopt at home so that we can make a positive difference as
socially responsible graduates.

In connection to the vision mission, I can apply what i have learn to do more efficient in planning good
for myself and my family and also as a student who must employ the gabrielian culture.

Prepared by: Checked by:

Mark Anthony M. Gutierrez PROF. GIL ANASIN
Student Professor/Instructor
 Colegio de San Gabriel Arcangel, Inc.
Founded 1993
Area E, Fatima 1, Sapang Palay, City of San Jose del Monte, Bulacan
Recognized by the Government: DepEd, TESDA and CHED
PACUCOA Accredited – Level 1 Status
 Telefax No. (044) 7600-301 /  0915-810-5686

LEARNING DIARY in: COGM2 AUDITING AND ASSURANCE:

CONCEPT AND APPLICATION 1
(Subject Code & Description)

Date: DECEMBER 10, 2022

I learned in our prayer that : In the prayer I learned that our God is always there to help us in any struggles
that we face on, so if something bothering you always pray and ask God for help because He knows the best
for you, Godbless.

My action today is to: Today I want to make my day productive and more focus on my study for me to have
a nice day. I want to change my laziness that’s why I start my day into productive I hope I maintain it.

In our lessons for today, I have learned about:

1. Deposit demand are measured using the exchange rates in effect on the reporting dates.
2. Workings fund is cash segregated for current use in the ordinary conduct of business.
3. Cash on hand is cash items availing deposit that customers checks, travelers check, banks draft,
and money orders.
4. Cash item is any item use as standard medium of exchange.
5. Cash equivalents are highly liquid financial instruments that are so near their maturity and that
there is insignificant risk of change in value due to fluctuation of interest rates.
6. Temporary investment, these are not included as part of cash equivalents because these equity
securities do not have maturity dates.
7. Cash belongs to the broad category of asset called financial assets.
8. Financial assets are cash or contractual right to receive cash or another financial instruments in the
future.
9. The nature of cash is not all of the cash items qualify for reporting as part of the account title cash
or cash on hand and in banks on the statements or financial position.
10. Cash in banks are include deposits, there are unrestricted funds deposited in a bank that can be
withdrawn upon demand such as amounts in checking and savings account.

I will memorize the above learning points, explain them in my own words, and apply them in our activities.

VISION: MAN OF GOD – VIR ENIM DEI. “A leading transformational leadership institution with a unique
Gabrielian Culture of Discipline, Socially Responsible, Interdependent, Functionally Productive, Godly
Individuals and reaching the marginalized to thrive in the global community.
I can connect my learning today with the vision and mission of our school by: adapting what I’ve learned to this
subject in my basis of analyzing specially in arts that can cause t functionally productive person.

Prepared by: Checked by:

Mark Anthony M. Gutierrez PROF. GIL ANASIN
Student Professor/Instructor