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Study Break - 17

This document discusses auditing the investing and financing cycles. It provides examples of transactions typically included in these cycles and sample audit procedures used to test them. The investing cycle involves acquiring and disposing of long-term operating assets. Typical transactions in the financing cycle are acquiring debt, issuing bonds or stock. Tests of details for these cycles include inspecting assets, examining contracts, confirming debt amounts, and recalculating interest expense.

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Chacha Yanuariska
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77 views

Study Break - 17

This document discusses auditing the investing and financing cycles. It provides examples of transactions typically included in these cycles and sample audit procedures used to test them. The investing cycle involves acquiring and disposing of long-term operating assets. Typical transactions in the financing cycle are acquiring debt, issuing bonds or stock. Tests of details for these cycles include inspecting assets, examining contracts, confirming debt amounts, and recalculating interest expense.

Uploaded by

Chacha Yanuariska
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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STUDY BREAK CHAPTER 17 Auditing the Investing and Financing Cycles

1. This cycle involves activities such as the purchase and sale of land, buildings, and equipment not generally held for resale. A. Investing Cycle B. Financing Cycle C. Cash Disbursements Cycle D. Cash Receipts Cycle A. Investing Cycle ALASAN : (B) Financing Cycle meliputi kegiatan berhutang, sewa guna usaha (leasing), menerbitkan obigasi dll (C) Cash Disbursements Cycle meliputi kegiatan pengeluaran kas (pembelian aset tetap, pembelian bahan baku dll) (D) Cash Receipts Cycle meliputi kegiatan penerimaan kas (pengembalian piutang, penjualan dll)

2. All of the following are classes of transactions associated with the audit of plant assets, except: A. Depreciation Expense B. Disposal of Fixed Assets C. Payroll Expense D. Acquiring of Fixed Assets C. Payroll Expense ALASAN : Yang termasuk transaksi yang terkait dengan audit plant assets antara lain : Depreciation Expense, Disposal of Fixed Assets, Acquiring of Fixed Assets, Return on Assets dll. Sedangkan Payroll Expense tidak termasuk karena beban penggajian tidak berhubungan
YANUARISKA E. 040913211 PENGAUDITAN II (J)

dengan aset tetap perusahaan, ada atau tidaknya beban gaji tidak mempengaruhi adanya aset tetap secara langsung.

3. While auditing the investing cycle, this test of details of balances allows the auditor to obtain direct personal knowledge of the existence of the plant assets. A. Inspect plant assets B. Examine title documents and contracts C. Impairment of plant assets D. Review provisions for depreciation A. Inspect plant assets ALASAN : Karena dengan melakukan pemeriksaan pada aset tetap (inspect plant assets) auditor dapat secara langsung mengetahui keberadaan/adanya aset tetap yang dimiliki kliennya

4. This cycle involves activities such as acquiring debt, issuing bonds, and issuing common stock. A. Investing Cycle B. Financing Cycle C. Cash Disbursements Cycle D. Cash Receipts Cycle B. Financing Cycle ALASAN : (A) Investing Cycle meliputi kegiatan pembelian dan penjualan tanah, bangunan, dan peralatan umumnya tidak dimiliki untuk dijual kembali (C) Cash Disbursements Cycle meliputi kegiatan pengeluaran kas (pembelian aset tetap, pembelian bahan baku dll) (D) Cash Receipts Cycle meliputi kegiatan penerimaan kas (pengembalian piutang, penjualan dll)

5. This financing function involves making payments to the proper payees in according with board of director or management authorizations. A. Authorizing bonds
YANUARISKA E. 040913211 PENGAUDITAN II (J)

B. Authorizing capital stock C. Paying bond interest and cash dividends D. Recording financing transactions C. Paying bond interest and cash dividends ALASAN : (A) & (B) Fungsi pembiayaan dimana dewan direksi biasanya mengotorisasi transaksi pembiayaan berdasarkan aktivitas perencanaan dan investasi strategis (D) Pencatatan transaksi pembiayaan dimana transaksi dicatat secara tepat dalam hal jumlah, klasifikasi, dan periode akuntansi berdasarkan otorisasi serta dokumentasi pendukung; tugas pelaksanaan dan pencatatan transaksi pembiayaan dipisahkan; pengecekan periodik yg independen dilakukan untuk kesesuaian buku besar pembantu dan akun-akun pengendali, termasuk konfirmasi dg perwalian obligasi (bond trustee), atau agen transfer (transfer agent), jika dapat dilakukan 6. All of the following are tests of details of balances for the financing cycle, except: A. Confirmation of accounts payable B. Confirmation of long-term debt C. Review authorization and contracts D. Recalculate interest expense A. Confirmation of accounts payable ALASAN : Karena tests of details of balances pada financing cycle terdiri dari : Review authorization and contracts Confirm debt Recalculate interest expense

YANUARISKA E. 040913211 PENGAUDITAN II (J)

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