Modern Auditing: Assurance Services and the Integrity of Financial Reporting, 8th Edition William C. Boynton California Polytechnic State University at San Luis Obispo Raymond N. Johnson Portland State University Chapter 17 – Auditing the Investing and Financing Cycles
Chapter Overview
Sifat Siklus Investasi dan Pembiayaan Penelaahan atas siklus investasi dan pembiayaan Aktivitas investasi Aktivitas pembiayaan Pemahaman tentang bisnis dan industri untuk mengembangkan strategi audit
Understanding the Entity and Environment
Ikhtisar Aktiva tetap bersih dan bagaimana aktiva itu dibiayai untuk industri tertentu Hotel Sekolah Pengecer makanan Pabrikan perabot RT Komputer elektronik AT bersih sebagai % dari total aktiva 75% 57% 42% 36% 16% Hutang operasi sbg % dari total aktiva 25% 23% 47% 56% Pembiayaan dengan hutang sbg % daritotal aktiva 65% 19% 33% 10% Ekuitas sbg % dari total aktiva 58% 31% 30% 34% 100% Penjulanan terhadap aktiva tetap bersih 0,8 1,3 1,6 3,7 17,3 Penjualan terhadap total aktiva 0,6 0,7 1,4 2,8
Siklus Investasi-Tujuan audit Siklus investasi difokuskan pada investasi aktiva tetap Tujuan Audit assersi manajemen Perencanaan dan Metodologi Audit Materialitas Inherent Risk Analytical Risk Controling Risk
Investing Cycle – Analytical Procedures
Pengujian Subtantif Atas Saldo Aktiva Tetap Prosedur Awal Prosedur Analisis Pengujian Rincian Transaksi Memvouching penambahan Aktiva tetap Memvouching pelepasan aktiva tetap Mereview ayat jurnal beban reparasi dan pemeliharaan
Substantive Tests for Plant Assets Tests of Details of Balances Menginspeksi Aktiva Tetap Memeriksa dokumen dan kontrak hak kepemilikan Pengujian rincian saldo : Estimasi Akuntansi Review Penyisihan untuk Penyusutan Penurunan Nilai Aktiva Tetap
Financing Cycle
Financing Cycle – Audit Objectives
Financing Cycle – Analytical Procedures
Financing Cycle Inherent Risk Consideration of Internal Control Common Documents and Records
Financing Cycle – Functions and Related Controls Authorizing bonds and capital stock Issuing bonds and capital stock Paying bond interest and cash dividends Redeeming and reacquiring bonds and capital stock Recording financing transactions
Preliminary Audit Strategies for Long-Term Debt
Substantive Tests of Long-Term Debt Initial Procedures Analytical Procedures Tests of Details of Transactions
Substantive Tests of Long-Term Debt Tests of Details of Balances Tests of Details of Presentation and Disclosure
Study Break 4. This cycle involves activities such as acquiring debt, issuing bonds, and issuing common stock. Investing Cycle Financing Cycle Cash Disbursements Cycle Cash Receipts Cycle B. Financing Cycle
Study Break This financing function involves making payments to the proper payees in according with board of director or management authorizations. Authorizing bonds Authorizing capital stock Paying bond interest and cash dividends Recording financing transactions C. Paying bond interest and cash dividends
Study Break All of the following are tests of details of balances for the financing cycle, except: Confirmation of accounts payable Confirmation of long-term debt Review authorization and contracts Recalculate interest expense A. Confirmation of accounts payable
Preliminary Audit Strategies for Shareholders’ Equity
Analytical Procedures
Substantive Tests of Stockholders’ Equity Initial Procedures Analytical Procedures Tests of Details of Transactions Vouch Entries to Paid-in Capital Accounts Vouch Entries to Retained Earnings
Substantive Tests of Stockholders’ Equity Tests of Details of Balances Review Articles of Incorporation and Bylaws Review Authorization and Terms of Stock Issues Confirm Shares Outstanding with Registrar and Transfer Agent Inspect Stock Certificate Book Inspect Certificates of Shares Held in Treasury Tests of Details of Presentation and Disclosure