GAP DETECTION & AGING

STUDENT NAME:-Bhargav Parikh

REGISTRATION NO. : WRO0684867
SUBMITTED TO ICAI BHAWAN,RAJKOT

PREPARED BY:- Bhargav Parikh 1

(A)GAP DETECTION

PREPARED BY:- Bhargav Parikh 2

INDEX
❖INTRODUCTION.
❖LEARNING OBJECTIVES.
❖LOCATION.
❖ADVANTAGES.
❖TECHNICALITY.
❖STEPS TO DETERMINE GAP DETECTION.

PREPARED BY:- Bhargav Parikh 3

INTRODUCTION
❑Idea Includes Two Keys to Identify Exceptions ,
Irregularities , Anomalies and Errors.
❑These Functions Assist the User to Shift Through
Large Volumes of Data and Help Pin-Point Specific
Duplicate Entries or Specific Missing Entries.
❑These are 1. Duplicate Detection.
2. Gap Detection.

PREPARED BY:- Bhargav Parikh 4

CONTINUED…..
❑Gap Detection Tests are Standard Passing Tests
which are Run in Every Database Right at the
Inception Prior to Detailed Excepting and
Analytical Testing within IDEA .

PREPARED BY:- Bhargav Parikh 5

LEARNING OBJECTIVES
❑To Test for Completeness.

❑To Test for Gaps in the Invoice Number Sequence.

❑To Ensure that Transaction is the Active Database.

PREPARED BY:- Bhargav Parikh 6

LOCATION

Gap
Analysis > Detection

PREPARED BY:- Bhargav Parikh 7

CONTINUED…..

PREPARED BY:- Bhargav Parikh 8

ADVANTAGES
❑The Test do Not Requires Much Querying
Experience and Resemble Plug-n-Play Tests.

❑Gap Detection Runs on Largely Formatted

Sequential Data Fields Like Invoice number ,
Purchase order , Number , Cheque number etc.

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CONTINUED…..
❑Easily Determines Unique Transaction ID and
Helps to Identify the Same.

❑Mainly Done at the Beginning of the Certification

Journey to Assess What is Currently Recorded.

PREPARED BY:- Bhargav Parikh 10

TECHNICALITY
❑Idea has a Maximum Limit of 10,000 Gaps.
❑If There are More than 10,000 Gaps, Then Only
First 10,000 are Displayed.
❑It is Not Expected that an Auditor Would be Not
Interested in Examining Gaps of More than 10,000.
❑However, for a Large POS-System Database there
May be More than 10,000 Gaps then Zapper
Software is Used to Delete Many Sale Transactions.

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GAP DETECTION
14

12

10

8 Series 3
Series 2
6
Series 1
4

0
Category 1 Category 2 Category 3 Category 4

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CONTINUED…..
⚫ Gap Detection Result….

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STEPS TO DETERMINE GAP DETECTION
1. In the Field to Use List Box, Select INVOICE NO.

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CONTINUED…..
2. In the Output Area , Ensure the Create Result Check
Box is Selected.

3. In the Result Name Box, Enter Gap Detection Sales.

4. On Clicking OK, the Result Database Contains the

Gaps Occuring From:
INVOICENO. ; TO: INVOICE and Number in the Active
Database.

PREPARED BY:- Bhargav Parikh 15

LEARNING OBJECTIVES
❑To Age Selected Database from a Particular Data
for Upto 6 Specified Intervals.
❑These Intervals Can be Days, Months, or Years.
❑To Age the Outstanding Debts at the Year End in
order to Determine Provisions Required Against
Bad Debts.

PREPARED BY:- Bhargav Parikh 16

(B) AGING
⚫*INDEX*
❑FUNCTION DESCRIPTION.
❑USE OF AGING.
❑ASPECTS.
❑LOCATION.
❑PROCEDURES.

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FUNCTION DESCRIPTION
❑Aging Functions Presents Aged Summaries of Data.
❑This Summary may be Based on the Current Date or
a Specified Cut Off Date.
❑Use the Aging Task to Age a Selected Database from
a Particular Date for Upto Six Specified Intervals.
❑These Intervals Can be Days ,Months, or Years.
❑For Example,You Can Edge Outstanding Dates at
the Year End in Order to Determine Provisions
Required Against Bad Debts.

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USE OF AGING
❑The Most Common Use of the Aging Task is with
Accounts Receivables or Debtor legders.
❑ Consider Using Aging on Inventory
Database(date of last movements) or on Short-
Term Loan Databases.

PREPARED BY:- Bhargav Parikh 19

ASPECTS
❑The Aging Task Optionally Produces:
1. A Detailed Aging Database.
2. A Key Summary Database.
3. A Result Output.

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LOCATION

ANALYSIS > AGING

PREPARED BY:- Bhargav Parikh 21

CONTINUED…..

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PROCEDURE
a)Enter the Aging Date to 2012/06/27 i.e.
yy yy/mm/ dd Format.
b)Set the Aging Field to Use to DATE.
c)Set the amount field to total to SALES.
d)Aging Intervals in Days. The Other Options are
Months and Years.
e)The Aging Task Optionally Produces:
1.A detailed aging database.
2.A key summary database.
3.A result output.

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CONTINUED…..
f) Select only create result option.
g) In the name box enter Aging Sales.
h)On clicking ok,the below output is displayed.

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CONTINUED…..
❑Aging result.

PREPARED BY:- Bhargav Parikh 25

THANK
YOU

PREPARED BY:- Bhargav Parikh 26