Your client is preparing financial statements to show the bank. You know that he has incurred a computer repair expense during the month, but you see no such expense on the books. When you question the client, he tells you that he has not received the official bill, although he knows the expense was $1,250. Your client is on the accrual basis of accounting. He does not want the computer repair...

denemotley

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• May 12th, 2010

Is your client behaving ethically by suggesting that the computer repair expense not be booked until the officail bill is presented?

karamshree

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• Nov 23rd, 2009

It depends on what was the catagary of business if the computer repairing expense is mendatory field in the head of indierect expense in P&L then he should show because at time of assessment there may be some problem.

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An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for each account listed on the income statement and balance sheet. Your team has been assigned the duty to diagram the audit trail for your company. In your diagram, show several...

snjsanthosh

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• Sep 1st, 2010

Audit trial is a chronological sequence of audit records, each of which contains evidence directly pertaining to and resulting from the execution of a business process or system function

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