The fourth edition of the Peach Blossom Cologne Company Audit Case contains many new features, most significantly exercises dealing with the audit of internal control over financial reporting. Optional exercises simulate the planning phase of a real audit, including preparation of an engagement letter, completing a time budget, and conducting analytical procedures. In analyzing the potential problems uncovered by analytical procedures, students are required to provide an analysis of risks and a discussion of those accounts that may present potential problems. The optional internal control flowcharting exercises are based on the client’s computer system. Two statistical sampling exercises are included: an attributes sampling application and a variables sampling exercise using dollar-unit (PPS) sampling. New to this edition is a table that cross-references exhibits to their related assignments. Additionally, students are provided a CD that contains working paper templates enabling students to complete some or all of the working papers electronically. For those instructors who would like to provide audit programs to their students, a CD containing audit programs is available. Students can use these programs as a starting point for developing their own audit programs.
Paul
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Weitere Infos & Material
I.General Instructions and PreparationsII.Permanent File Materials1.History and Background2.Organizational Structure3.Internal Control 4.Chart of Accounts5.Minutes of Board of Directors' MeetingsIII.Problem AssignmentsAssignment #1: Planning the Integrated AuditAssignment #2: CashAssignment #3: Accounts Receivable and Credit SalesAssignment #4: Inventory and PurchasesAssignment #5: Property, Plant, and Equipment (Fixed Assets)Assignment #6: Accounts Payable Processing and Unrecorded LiabilitiesAssignment #7: Notes Payable and Accrued InterestAssignment #8: Completing the AuditIV.Current Year's Working Trial BalanceV.Prior Year's Working Papers
Paul, Jack
Jack W. Paul is a professor of Accounting at Lehigh University. He has authored this and another successful audit case for McGraw-Hill(Apple Blossom). He received his Ph.D. from Lehigh in 1978.
