View notes - answer to biltrite case from finance finance at business management & finance high school biltrite bicycles inc module iii - control testing: sales processing 1 the plan used does not. Acc-651 internal auditing full course throughout this course, you will be completing the biltrite practice case found in your loudcloud classroom this practice case allows you to apply auditing concepts to a “real-life” client and to use your computer as an audit-assist device 3 module ii apa format is not required, but solid. Accounts receivable aging analysis richard derick has asked you to review the accounts receivable aging analysis and the allowance for doubtful accounts and to recommend any audit adjustments or reclassifications you consider necessary shelly ross had prepared the aging analysis and the allowance for doubtful accounts document before being temporarily transferred to the joplin mills. Biltrite practice case module xi, substantive testing of plant asset additions and disposals, may be completed at this time module xi: plant asset additions and disposals in module iv, you applied mus sampling procedures in evaluating the correct- ness of a subset of debits to the “factory equipment” account. View notes - biltrite - module iii from bu 7280 at the college at old westbury based on the results of your testing, should the aggregate materiality threshold be changed for any part of the revenue.
In recording the 2009 disposals, janel james, biltrite’s plant assets accountant, miscalculated the accumulated depreciation on the assets sold and thereby overstated the gain on disposal by $3,090,000. The design of an mus sample requires the auditor to determine (1) detection risk, (2) tolerable misstatement (based on materiality), and (3) expected misstatement in the account balance the use of detection risk as sampling risk in an mus sample is based on the view that non-sampling risk has been reduced to a negligible level. Biltrite case – chapter 6 module 2 module ii part i 1 sales processing: (see exhibit br7) hint: invoice, bills of lading ref 1 describe weakness there is no indication. In module xi, you will analyze this subset of additions, as well as disposals you will also complete the “plant assets” lead schedule in recording the 2009 disposals, janel james, biltrite’s plant assets accountant, miscalculated the accumulated depreciation on the assets sold and.
Biltrite case module i through x essay posted on july 11, 2017 by bros2qet1 the biltrite company is in misdemeanor of one of the restrictive compacts in the bank two understanding because if the dealing was recorded right it would demo that the balance was below $ 10 000 000 counterbalancing balance. The biltrite company is in violation of one of the restrictive covenants in the bank two agreement because if the transaction was recorded correctly, it would show that the balance was below $10,000,000 compensating balance. Manual integrated audit practice biltrite case pdf online solution manual integrated audit practice biltrite case answer to biltrite module week 6 biltrite practice case part 3 sku 104983,.
Biltrite practice case module iv may be completed after either chapter 10 or chapter 14 check with your instructor module iv: mus sampling—factory equipment additions richard derick has asked you to develop a sampling plan to determine the. Module 4 – spreadsheets in this module you can learn how to accomplish the tasks associated with developing, formatting, modifying and using applications microsoft excel 2010 and openofficeorg calc. Accounts receivable aging analysis richard derick has asked you to review the accounts receivable aging analysis and the allowance for doubtful accounts and to recommend any audit adjustments or reclassifications you consider necessary shelly ross had prepared the aging analysis. The biltrite computer audit practice case has been revised to enable students to begin the case earlier in the course this has been achieved by dividing the former module i into two parts: module i: inherent risk analysis to be completed following chapter 5 and module ii: control risk analysis to be completed following chapter 8. Wp a6 biltrite bicycles, inc prepared by: budgeted v actual income statements date: reviewed by: (in thousands of dollars) variance as % variance of budget actual budget favorable (unfavorable)-sales revenue cost of goods sold: beginning inventories cost of goods manufactured.
Module xii: estimated liability for product warranty all biltrite products are sold under a one-year warranty covering all parts and labor repairs are performed locally, either by the dealer who sold the bicycle or by local entities licensed as official biltrite bicycle repair shops. Preview of solution---acc651-week-6--biltrite-practice-case--part-3docx 109 year be adjusted expense, retained because the a changes to be prospectively biltrite inc estimated product 2009 2070 estimated $1,139,000 expense xiii - payable to two 1 objectives notes are a is. Module 2 homework + answers total points: 40 chapter 3 1) unearned revenues are reported as liabilities on the balance sheet true or false answer: unearned revenues are payments provided to a company before the goods or services are provided. Acc651 full course latest [ all discussions and all week 2,4,6 and 8 biltrite practice case ] gcu week 1 complete the following modules from the biltrite case: 1 module iii 2 module iv 3 module v 4 module vi 5 module vii 6 module viii 7 module ix 8 module x.
Solutions for the biltrite bicycles inc case module i - assessment of inherent risk3 module ii education index biltrite corp biltrite corp 23490 words 94 pages show more solutions for the biltrite bicycles inc case module i - assessment of inherent. Biltrite module 8 meyer plastics, inc sign & graphic materials, meyer plastics, inc knows that you depend on your supplier for availability of all the products you could possibly need and our goal is to offer as many lines of sign supplies as your needs could dictate. 1 biltrite adjusting journal entries (ajes) and reclassifications wp d biltrite skateboards ltd audit adjustments and reclassifications. Description of the practice case this case has two learning objectives - audit module introduction first, it provides the student an opportunity to apply auditing concepts to a “real-life” audit client the client, biltrite bicycles, inc, operates within a unique business climate and internal control environment, and the student must assess inherent risk and control.
Biltrite bicycles inc – module iii control testing – sales processing 1 based on the deficiencies in the design of controls identified in the sales processing subset of the revenue cycle, does the above sampling plan test address all relevant financial statement assertions to sale and accounts receivable. Biltrite practice case module iii: control testing – sales processing 1the sampling plan in the design of controls does not provide tests about revenues and accounts receivables the weakness that i could see is the fact that goods that were delivered to customers were not billed which result in bill of lading not being pre-numbered. Words 568 - pages 3 intro to nas research paper health care and native american indians it’s not often in university that you, as a student, take a class that impacts you emotionally, changes you and leaves you with so many questions about the society you live in. Preview: through xxxxxxxx earnings xxxxxxx the adjustment xxxxxxxxxx a change xx estimate xxxxxxx xxxx to xx accounted for xxxxxxxxxxxxx and not xxxxxxxxxxxxx biltrite xxxxxxxxx xxx estimated xxxxxxxxx for product xxxxxxxx december 31, xxxx account xxxx xxxxxxxxx liability xxxxxxxx $1,139,000 & xxxxxxxxxx warranty expense xxxxxxxxxxxxxxxx xiii x xxxxxxxx note xxxxxxx and note xxxxxxx to bank.
The client norfolk general is a full service community hospital located in simcoe, ontario (norfolk county) its services include: emergency, icu, surgery, nursing, diagnostic imaging, obstetrics, rehabilitation services and several others.