How should documents removed from workpapers be treated?

Q: What type of internal control would recalculating the totals on a computer report be?

A: Step 1:   The rules and procedures implemented by a company to ensure the integrity of the…

Q: Why are office equipments important?

A: Office Equipment: Office Equipment is the assets that a company uses in its office premises for…

Q: What is a memorandum entry? Why it is done?

A: A memorandum entry is different from the journal entries. The memorandum entry is not recorded by…

Q: What document is used to determine which tables of data are necessary?

A:

Q: How long must audit workpapers be maintained?

A: Definition:   Audit planning: Audit planning includes the designing of audit strategy for the…

Q: What is the definition and explanation of the closure procedure and closing entries

A: Entries that have been closed : When the accounting period concludes, a closing entry is a journal…

Q: Which of the following principles of internal control relates to having prenumbered documents? O…

A: The correct answer is "Documentation procedures." This principle of internal control relates to…

Q: What is computer ethics?

A: Ethics: Ethics can be defined as a conduct adopted by an individual in making the selection between…

Q: Identify and provide examples of controls related to the use of files and data.

A: INTRODUCTION Data control is the administration of information policy for the data of an…

Q: What is a recurring journal entry? How it affects the whole entry system?

A: REcurring journal entries are the entries which get repeated in every accounting period for example…

Q: What are the classes of transcription errors?

A: Definition: Internal control: Internal control is a process which ensures continuous reliability of…

Q: How should documents added to work papers be treated?

A: Work papers The work papers are a set of documents that an auditor assembles while looking at the…

Q: What information is contained in the general ledger master file?

A: General Ledger:  The financial information required for the preparation of financial reports of…

Q: What is the effect of not returning all client-provided documents upon request?

A: If an auditor is not returning all client provided documents upon request, then this act is an…

Q: What types of controls are in place to protect data (such as company information or customer…

A: There are many controls which can be put to protect the data as these are very confidential and they…

Q: What exactly are reversing entries, and why do we need them?

A: Journal entry is the entry which is made at the date on which the transaction which relates to the…

Q: What would the Accounting Memo and Email to Client look like?

A: When the merchandise is sold, the company estimates the possible returns and accordingly provides…

Q: What are the categories of processing controls?

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: How to make adjuting entries in journal form?

A: Adjustment entries are the type of journal entries which are prepared to rectify the transactions…

Q: Explain discretionary access privileges.

A: In discretionary access privilege, the proprietor of the item indicates which subjects can get to…

Q: Why are denormalized tables used in data ware-houses?

A: Data Warehouse:   Data warehouse is also termed as enterprise data warehouse. It can be defined as…

Q: terized accounting

A: Computerised accounting system is a software that assists organizations with dealing with the large…

Q: What is involved in the posting process?

A: Posting: Posting process means posting of all transactions of business into general ledgers. Every…

Q: How are run charts useful in process control?

A: A run chart is a graph of data that is plotted over time. For a particular process if you collect…

Q: ow is forcasting part of the bookkeeping proces

A: Bookkeeping involves several tasks, including recording transactions, posting debits and credits,…