RMM = Control risk + Internal risk Control risk and inherent risk are the components of the risk of material misstatement (RMM). Detection risk The only risk the auditor directly controls is detection risk. The auditor can achieve the desired audit risk based on the assessed RMMs and the acceptable level of detection risk. Detection risk has an inverse relationship with the RMMs.
CPAs are not encouraged or required to refrain from solicitation unless it is false, misleading, or deceptive. ■ The AICPA does not make endorsements. -AICPA 멤버라고 하는 것은 괜찮지만, Endorsed by라고 쓰는 것은 사기임. ■ Advertising free consultation is acceptable. -공짜라고 광고해도 상관 없음. ■ 학력(Education Attainment)은 정확하게 표기만 했으면 Okay.
Cost of Benefit 문제 Control 결함을 경영진(Management)이 고치느냐 마느냐는 Cost of Benefit 문제임. Fraud Risk Factor Fraud risk factors relate to misstatements arising from (1) fraudulent financial reporting and (2) misappropriation of assets. Each of these categories may be further classified according to the three conditions that ordinarily exist when fraud occurs: (1) incentives/pressures, (2) opportunities, and..
Non-Financial Data is Also Used. Although analytical procedures used in planning the audit often use only financial data, sometimes relevant nonfinancial information is considered as well. For example, number of employees, square footage of selling space, volume of goods produced, and similar information may contribute to accomplishing the purpose of the procedures. Analytical Procedures of Risk..
매출채권전환율이란? ■ The accounts receivable turnover is the ratio of sales to average receivables. The accounts receivable turnover ratio equals net credit sales divided by average accounts receivable. 즉, 매출채권 전환율 = Sales/ Average Receivables ■ The accounts receivable turnover ratio를 다른 말로 하면, = Net Credit Sales/ Average Accounts Receivables The accounts receivable turnover ratio equals net credit sale..
BEC 원가관리 부분의 GLEIM CPA REVIEW의 STUDY UNIT은 다음과 같이 이루어져 있습니다. SU 17: BUDGET COMPONENTS SU18: COSTING FUNDAMENTALS SU19: COSTING METHODS SU20: COSTING SYSTEMS AND VARIANCE ANALYSIS
GLEIM CPA REVIEW의 BEC IT 부분은 다음과 같이 이루어져 있습니다. SU12: IT ROLES, SYSTEMS, AND PROCESSING SU13: IT SOFTWARE, DATA, AND CONTINGENCY PLANNING SU14: IT NETWORKS AND ELECTRONIC COMMERCE SU15: IT SECURITY AND CONTROLS
경제학 부분의 GLEIM CPA REVIEW의 SUTDY UNIT은 다음과 같이 이루어져 있습니다. SU3: MICROECONOMICS(미시경제학) SU4: MACROECONOMICS(거시경제학) SU5: INTERNATIONAL ECONOMICS(국제경제학)
재무관리를 다루는 GLEIM BEC STUDY UNIT 구성을 분석하겠습니다. SU6: RISK RETURN PRINCIPELS SU7: FINANCIAL RISK MANAGEMENT SU8: CORPORATE CAPITAL STRUCTURE SU9: WORKING CAPITAL I: CASH AND RECEIVABLES SU10: WORKING CAPITAL II: INVENTORY AND SHORT-TERM FINANCING SU11: CAPITAL BUDGETING
Overall responses apply to the assessed RMMs at the financial statement level. The following are examples of overall responses: (1) An emphasis on professional skepticism in evidence gathering and evaluation; (2) increased supervision; (3) assignment of staff with greater experience or expertise; (4) greater unpredictability in the choice of further audit procedures; and (5) changing the nature,..
What is Substantive Procedures? Substantive procedures are designed to detect material misstatements at the assertion level. Analytic Procedure 와의 차이점은? Test of detail도 Analytical Procedure이긴 함. 근데 Tests of balances and transactions (tests of details) are not analytical procedures. SubstantiveTest = Test of Detail 의 예시 Reconciling Recalculating Confirmation 어울리는 Sampling? Variable Sampling
What is Parallel Simulation? ■ Parallel simulation uses a controlled program to reprocess sets of client transactions and compares those results with those of the client. ■ Parallel simulation is a test of the controls in a client’s application program. -근데 꼭 Client's Application Program만으로 해야하는 건 아님. An auditor-developed program(not the client’s program) is used to process actual client data an..