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ACC 492 Week 1 Individual Assignment Payroll Flowchart
ACC 492 Week 1 Individual Multiple Choice
ACC 492 Week 1 Quiz
ACC 492 Week 1 Individual Assignment Assignments From the Text
ACC 492 Week 2 Individual Multiple Choice
ACC 492 Week 2 Quiz
ACC 492 Week 2 Individual Assignment from the Text
ACC 492 Week 2 Team Assignment Internal Control Questionnaire
ACC 492 Week 3 Individual Multiple Choice Quiz
ACC 492 Week 3 Quiz
ACC 492 Week 3 Team Assignment Audit Program Development
ACC 492 Week 4 Individual Multiple Choice Quiz
ACC 492 Week 4 Quiz
ACC 492 Week 4 Team Assignment Audit Program Presentation
ACC 492 Week 5 Individual Assignment Issuing Audit Program Simulation

ACC 492 Week 5 Team Assignment Case study assignment

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ACC 492 Week 1 Individual Assignment Assignments From the Text

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Click on the link for Ch. 14 of Modern Auditing on the course website.

Click Download eBook on the left-hand side of the page.

Download Ch. 14 of Modern Auditing

Prepare written answers for the following assignments:

Learning Check 14-4

Comprehensive Question: 14-28 Controls over Cash Receipts Processing at a Church

Comprehensive Question: 14-30 Substantive Tests of Accounts Receivable

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ACC 492 Week 1 Individual Assignment Payroll Flowchart

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Post your flowchart in the Assignments folder. Prepare flowcharts of the revenue and payroll cycle in your organization. Then, prepare a 300-500-word examination of the cycles. Be sure to examine the internal controls within each cycle and any internal controls lim

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ACC 492 Week 1 Individual Multiple Choice

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Post your answers to the Multiple Choice Questions in the Assignments folder.

Be prepared to take a quiz on topics covered in the assigned readings for Week one.

1. Which of the following accounts in a merchandising company is affected by both the revenue cycle and another cycle?

a. sales

b. sales returns and allowances

c. inventory

d. accounts receivable

e. accounts payable

2. The audit objective, “The accounts receivable balance represents gross claims on customers and agrees with the sum of the accounts receivable subsidiary ledger” is derived from the assertion of:

a. existence or occurrence

b. completeness

c. rights and obligations

d. valuation or allocation

e. presentation or disclosure

3. All sales, cash receipts, and sales adjustments are accurately valued using GAAP and correctly journalized, summarized and posted are transaction objectives for:

a. occurrence

b. completeness

c. accuracy

d. cutoff

e. classification

4. Disclosure objectives includes all of the following ex

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ACC 492 Week 1 Quiz

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1. In an accrual accounting system, revenues are recognized as goods are delivered or as services are rendered. (True/False)

2. Give a brief definition of revenue. (30%)

3. How are revenues measured? [Not asking for currency here](30%)

4. List any three types of transactions normally processed by the revenue process. (30%)

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ACC 492 Week 2 Individual Assignment from the Text

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Post your answers to the following assignments from the text in your Assignments folder. Prepare responses to the questions posed by the following:

Learning Check 15:5 from the text, Modern Auditing: Assurance Services and the Integrity of Financial Reporting (8th ed.) by Boynton and Johnson.

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ACC 492 Week 2 Individual Multiple Choice

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Post your answers to the Multiple Choice Questions in the Assignments folder.

Please post your answers to the Multiple Choice questions to the Assignments section.

1. Which of the following accounts does not appear in the acquisition and expenditure cycle?

a. Cash.

b. Purchases Returns.

c. Sales Returns.

d. Prepaid Insurance.

2. For which of the following accounts would the matching concept be the most

appropriate?

a. Cost of Goods Sold.

b. Research and Development.

c. Depreciation Expense.

d. Sales.

3. Which of the following would not overstate current period net income?

a. Capitalizing an expenditure that should be expensed.

b. Failing to record a liability for an expenditure.

c. Failing to record a check paying an item in Vouchers Payable.

d. All of the above would overstate net income.

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ACC 492 Week 2 Quiz

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Be prepared to take a quiz on topics covered in the assigned readings for Week two.

1. Expenses are normally accrued at the end of the accounting period by a small business that follows the cash method of accounting. (True/False).

2. List two expense accounts that are usually accrued at the end of an accounting period. (30%)

3. Name the document that is usually completed before a purchase order is executed. (30%)

4. Which assertion is of primary importance to the auditor in auditing accounts payable? Why

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ACC 492 Week 2 Team Assignment Internal Control Questionnaire

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Internal Controls Questionnaire. Select a Learning Team member’s organization as the basis for this and subsequent Learning Team meeting assignments. Develop and complete an internal controls questionnaire for either an asset- or liability-related business cycle within the selected organization. Include questions regarding important characteristics of the following process components:

a. Control environment

b. Risk assessment

c. Control activities

d. Information systems and communications

e. Monitoring

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ACC 492 Week 3 Individual Multiple Choice Quiz

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Post your answers to the Multiple Choice Questions in your Assignments folder.

1. Which of the following approaches is most suitable for auditing the finance and investment cycle?

a. Perform extensive tests of controls and limit substantive procedures to analytical procedures.

b. Ignore internal controls and perform extensive substantive procedures.

c. Review internal controls, and perform extensive substantive procedures.

d. Ignore internal controls and limit substantive procedures to analytical procedures.

2. Loan covenants are used for which of the following reasons?

a. To protect the lender from the borrower substantially weakening the borrower’s financial position.

b. To protect the borrower from the lender calling the loan early.

c. To protect the auditor from false information by the borrower.

d. To protect shareholders from management taking on too much debt.

3. A related-party is a person or entity that

a. Has a family tie to a management member.

b. Does business with the company.

c. Can exert significant influence over or be influenced by the company.

d. Is a member of the company’s management.

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ACC 492 Week 3 Quiz

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1. Internal control is a process effected by an entity’s board of directors, management, and other personnel that is designed to provide reasonable assurance regarding the achievement of objectives. (True/False) (10%)

2. What are the two main objectives for conducting preliminary analytical procedures? (30%)

3. List the two types of audit tests. (30%)

4. List three factors that affect an organization's control environment. (30%)

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