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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 AT bersih sebagai % dari total aktiva Hutang operasi sbg % dari total aktiva Pembiayaan dengan hutang sbg % daritotal aktiva Ekuitas sbg % dari total aktiva 75% Sekolah 57% Pengecer makanan 42% Pabrikan perabot RT 36% Komputer elektronik 16%

25%

23%

36%

47%

56%

65%

19%

33%

23%

10%

10%

58%

31%

30%

34%

100% Penjulanan terhadap aktiva tetap bersih Penjualan terhadap total aktiva 0,8

100% 1,3

100% 1,6

100% 3,7

100% 17,3

0,6

0,8

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.
A. B. C. D. Investing Cycle Financing Cycle Cash Disbursements Cycle Cash Receipts Cycle

B. Financing Cycle

Study Break
5. This financing function involves making payments to the proper payees in according with board of director or management authorizations.
A. B. C. D. Authorizing bonds Authorizing capital stock Paying bond interest and cash dividends Recording financing transactions

C. Paying bond interest and cash dividends

Study Break
6. All of the following are tests of details of balances for the financing cycle, except:
A. B. C. D. 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