Help me study for my Accounting class. I’m stuck and don’t understand.
The assignment is to go over the different test of controls from the text book while pointing out the different forms of evidence used to audit sales accounts and to explain audit steps for sales accounts. Then compare sales account totals from Walmart’s schedule 10-K report in the brief summary.
- Specific texts of controls used for the account
- Evidence needed for the account
- Explain audit steps
- Go over sample size and sample methodology first 4 bullets should be 200 words all together
- For the brief summary- go over the trends for the account found on balance sheet. May have to compare prior years and look at how the account affects other cash accounts. Make sure this is separate from the other objectives in its own paragraph to make it easy to copy into the brief summary later. This section should be about 100 to 140 words.