Assignment: Production Cycle 1.What are the specific audit objectives of production cycle audit? 2.What are the documents normally support the production.

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Presentation transcript:

Assignment: Production Cycle 1.What are the specific audit objectives of production cycle audit? 2.What are the documents normally support the production report? 3.Describe the sequence of production activities. 4.State the normal functions and related controls of manufacturing activities. 5.Prepare tick-mark for the audit of production report, involving tick-mark for: production data*, manufacturing costs, unit equivalent product, and allocation of production costs. * Production data consists of beginning WIP Inventory, current production units, finished goods, ending WIP Inventory. 6.Beginning WIP 200 unit (80% RM, 70% CC), Goods Manufactured units, ending WIP 300 units (70%RM, 60%CC). Compute the product equivalent units for Raw Material, Direct Labor, and Overhead Cost, that should be used by client to determine costs/unit per item costs.

UNIVERSITAS ISLAM INDONESIA Lecture Highlight Tuestday, 6 December 2011

Auditing Personnel Service Cycle 1.List the key transactions in the PS Cycle. 2.State the specific audit objectives, particularly on the account balance side of the payroll. 3.List the common documents and records. 4.List the common functions in the payroll transactions. 5.State the possible tests of detail of transactions for the payroll transactions. 6.State the possible tests of detail of account balances for the payroll accounts. 7.Transform the audit procedures in the instructions no. 5 and 6 into form of tick-mark which will be written down in your working papers.