文档介绍：Chapter21 Audit of the Inventory and Warehousing Cycle(审计学
Audit of the Inventory
and Warehousing Cycle
Chapter 21
Learning Objective 1
Describe the business functions
and the related documents and
records in the inventory and
warehousing cycle.
Flow of Inventory and Costs
Actual
Raw Materials
Beginning
inventory
Raw
materials
used
Purchases
Ending
inventory
Direct Labor
Actual
Applied
Applied
Manufacturing Overhead
Work in Process
Beginning
inventory
Ending
inventory
Cost of
goods
manufactured
Cost of
goods sold
Finished Goods
Beginning
inventory
Ending
inventory
Cost of
goods sold
Functions in the Inventory and Warehousing Cycle
Process
purchase
orders
Receive
raw
materials
Store
raw
materials
Process
the
goods
Store
finished
goods
Ship
finished
goods
Receive
raw
materials
Put
materials
in
storage
Put
materials
in
production
Put
completed
goods in
storage
Ship
finished
goods
Flow
of
inventory
Learning Objective 2
Describe how merce
affects inventory management.
How merce Affects Inventory Management
The enables clients to provide
expanded descriptions of their
inventory on a real-time basis.
The use of the and other merce
applications may lead to financial reporting
risks if access to inventory databases and
systems is not adequately controlled.
Learning Objective 3
Explain the five parts of the audit
of the inventory and warehousing
cycle.
Audit of Inventory
Acquire and record
raw materials, labor,
and overhead.
Part of audit
Cycle in which tested
Acquisition and
payment plus
5>payroll and 7>personnel
Internally transfer
assets and costs.
Inventory and
warehousing
Audit of Inventory
Ship goods and record
revenue and costs.
Cycle in which tested
Part of audit
Sales and collection
Physically observe
inventory.
Inventory and
warehousing
Price pile
inventory.
Inventory and
warehousing
Learning Objective 4
Design and perform audit tests
of