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Ch 21: AUDIT OF THE INVENTORY AND WAREHOUSING CYCLE (Business functions in…
Ch 21: AUDIT OF THE INVENTORY AND WAREHOUSING CYCLE
Business functions in the cycle and related documents and records
Process the goods
Store finished goods
Store raw materials
Ship finished goods
Receive raw materials
Perpetual inventory master files
Process purchase orders
Audit of cost accounting
Cost accounting controls
Test of cost accounting
Documents and record for transferring inventory
Perpetual inventory master files.
Physical controls
Parts of the audit of inventory
Ship goods and record revenue and costs
Phisically observe inventory
Transfer assets and costs
Price and compile inventory
Acquire and record raw materials, labor, and overhead
Physical observation of inventory
Audit decisions
Controls over physical count
Physical observation test
Inventory observation requiremwnts
Audit of pricing and compilation
Pricing and compilation proxedures
Valuation of inventory
Pricing manufactured inventory
Cost or market
Pricing purchased inventory
Pricing and compilation controls
Integration of the test
Re still of the sales and collection cycle
Test of cost accountinf
Test of the payroll and personnel cycle
Physical inventory, pricing, and compilation
SAP