- Fundamentals of Financial Accounting
- BILLS OF EXCHANGE AND PROMISSORY NOTE (PROBLEMS 2)
- Nature & Scope of Cost Accounting
- Important Tips
- Previous Years University Papers
- Labour Cost — Accounting and Control
- Previous Years University Papers
- Procedure For Appointment of First Auditor
- VERIFICATION OF BANK BALANCE
- AUDIT COMMITTEE
- LIABILITIES OF AN AUDITOR
- DUTIES OF AN AUDITOR
- RIGHTS OF AN AUDITOR
- Personal Qualities of Auditor
- QUALITIES OF AN AUDITOR
Accounting TagsAccounting & Control Accounting Definitions ACCOUNTS PARTNERSHIP Auditing auditing standards audit planning audit sampling Bank Reconciliation Statement BASIC TERMS BILLS OF EXCHANGE Business Profits Business Transaction Capital CAPITAL AND REVENUE Cash Book CASH TRANSACTIONS Completing the Cost Cycle For Job-Order CONSIGNMENT ACCOUNTS Cost Accounting Departmentalization errors and frauds EXTRA REVISIONARY PROBLEMS Factory Overhead Fundamentals of Financial Accounting internal control Kinds of Audit Labour Cost LEARNING OBJECTIVES: Material Control — Storing and Issuing Nature & Scope of Cost Accounting OBJECTIVE QUESTIONS PARTNERSHIP ACCOUNTS PRACTICAL PROBLEMS Previous Years University Papers PROBLEMS Process Costing PROMISSORY NOTE Rectification of Errors Revenue Sampling SHORT ANSWER QUESTIONS Single Entry System The Auditor Verification vouching
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You can also find definition,rules, types, formula, illustration, problems, transaction and example of random accounts in an accounting cycle using direct and indirect method.All subjective and objective question are given here as well.
audit sampling definition with examples and formulaDefinition of audit sampling with formula and example to solve the problems with the suitable solution using concept in accounting keeping in mind the limitations and errors. How to calculate audit sampling with disadvantages and advantages using the rules in Cost and Management Accounting.
Haphazard sampling is a sampling method that does not follow any systematic way of selecting participants. An example of Haphazard Sampling would be standing on a busy corner during rush hour and interviewing people who pass by. A method of … Continue reading
Discovery Sampling is a method of sampling to assess whether the percentage error is not in excess of a specified percentage of the population. The sampling considers the population size, minimum unacceptable error rate and the confidence level. If the … Continue reading
Block Sampling is defined as a type of judgment sample whereby accounts or items are chosen in a sequential order. Once the initial item in the block has been chosen, then the balance of the block will be automatically selected. … Continue reading
Difference between Routine Checking & test Checking are Routine checking is for verification of each and every items of books of a/c’s Test checking refers to examination of selected number of items. Routine checking is to check all the transactions … Continue reading
Disadvantages of routine checking is that it is done without care, in this planned fraud are not disclosed, errors of principle not disclosed, the routine work is boring & time consuming. The drawback of routine checking is that work is … Continue reading
Advantages of routine checking are to check accuracy, frauds, to verify posting made in ledger. Calculate that there must be no change in figures & final checking of routine work. The benefit of routine checking is that books of accounts … Continue reading
The purpose of routine checking is to check the arithmetical accuracy of books of accounts; to examine the accuracy of posting; to see that there is no alteration of figures by client staff. The auditor can check the arithmetical accuracy … Continue reading
Sub-Cast is a part of routine checking. Sub-total is possible in accounts matters. The sub-cast must be correct. Cast is part of routing checking. Total in journal and ledger accounts should be examined for accurate results. Carry forward is a … Continue reading
The demerit of test checking is that errors are not disclosed by it. In the presence of error true and fair view is not possible. The demerit of test checking is that planned frauds may not be disclosed. The fraud … Continue reading
The drawbacks of test checking include errors are not disclosed; planned frauds are not disclosed; responsibility of auditor can not be shifted; report may fail to disclose true position: