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Modern Auditing:Modern Auditing:Assurance Services and the Assurance Services and the
Integrity of Financial Reporting, 8Integrity of Financial Reporting, 8thth EditionEdition
Modern Auditing:Modern Auditing:Assurance Services and the Assurance Services and the
Integrity of Financial Reporting, 8Integrity of Financial Reporting, 8thth EditionEdition
William C. BoyntonWilliam C. BoyntonCalifornia Polytechnic State California Polytechnic State
University at San Luis ObispoUniversity at San Luis Obispo
Raymond N. Raymond N. JohnsonJohnson
Portland State UniversityPortland State University
Chapter 17 – Auditing the Investing and Financing Cycles
Chapter OverviewChapter OverviewChapter OverviewChapter Overview
Sifat Siklus Investasi dan Sifat Siklus Investasi dan PembiayaanPembiayaan
Sifat Siklus Investasi dan Sifat Siklus Investasi dan PembiayaanPembiayaan
• Penelaahan atas siklus investasi dan pembiayaan– Aktivitas investasi
– Aktivitas pembiayaan
• Pemahaman tentang bisnis dan industri untuk mengembangkan strategi audit
Understanding the Entity and Understanding the Entity and EnvironmentEnvironment
Understanding the Entity and Understanding the Entity and EnvironmentEnvironment
Ikhtisar Aktiva tetap bersih dan bagaimana aktiva itu Ikhtisar Aktiva tetap bersih dan bagaimana aktiva itu dibiayai untuk industri tertentudibiayai untuk industri tertentu
Ikhtisar Aktiva tetap bersih dan bagaimana aktiva itu Ikhtisar Aktiva tetap bersih dan bagaimana aktiva itu dibiayai untuk industri tertentudibiayai untuk industri tertentu
Hotel Sekolah Pengecer makanan
Pabrikan perabot RT
Komputer elektronik
AT bersih sebagai % dari total aktiva
75% 57% 42% 36% 16%
Hutang operasi sbg % dari total aktiva
25% 23% 36% 47% 56%
Pembiayaan dengan hutang sbg % daritotal aktiva
65% 19% 33% 23% 10%
Ekuitas sbg % dari total aktiva
10% 58% 31% 30% 34%
100% 100% 100% 100% 100%
Penjulanan terhadap aktiva tetap bersih
0,8 1,3 1,6 3,7 17,3
Penjualan terhadap total aktiva
0,6 0,8 0,7 1,4 2,8
Siklus Investasi-Tujuan auditSiklus Investasi-Tujuan auditSiklus Investasi-Tujuan auditSiklus Investasi-Tujuan audit
• Siklus investasi difokuskan pada investasi aktiva tetap
• Tujuan Audit assersi manajemen
• Perencanaan dan Metodologi Audit – Materialitas– Inherent Risk– Analytical Risk– Controling Risk
Investing Cycle – Analytical Investing Cycle – Analytical ProceduresProcedures
Investing Cycle – Analytical Investing Cycle – Analytical ProceduresProcedures
Pengujian Subtantif Atas Saldo Pengujian Subtantif Atas Saldo Aktiva TetapAktiva Tetap
Pengujian Subtantif Atas Saldo Pengujian Subtantif Atas Saldo Aktiva TetapAktiva Tetap
• Prosedur Awal
• Prosedur Analisis
• Pengujian Rincian Transaksi– Memvouching penambahan Aktiva
tetap– Memvouching pelepasan aktiva tetap– Mereview ayat jurnal beban reparasi
dan pemeliharaan
Substantive Tests for Plant Substantive Tests for Plant AssetsAssets
Substantive Tests for Plant Substantive Tests for Plant AssetsAssets
• Tests of Details of Balances– Menginspeksi Aktiva Tetap– Memeriksa dokumen dan kontrak hak
kepemilikan
• Pengujian rincian saldo : Estimasi Akuntansi– Review Penyisihan untuk Penyusutan– Penurunan Nilai Aktiva Tetap
Financing CycleFinancing CycleFinancing CycleFinancing Cycle
Financing Cycle – Audit Financing Cycle – Audit ObjectivesObjectives
Financing Cycle – Audit Financing Cycle – Audit ObjectivesObjectives
Financing Cycle – Analytical Financing Cycle – Analytical ProceduresProcedures
Financing Cycle – Analytical Financing Cycle – Analytical ProceduresProcedures
Financing CycleFinancing CycleFinancing CycleFinancing Cycle
• Inherent Risk
• Consideration of Internal Control
• Common Documents and Records
Financing Cycle – Functions Financing Cycle – Functions and Related Controlsand Related Controls
Financing Cycle – Functions Financing Cycle – Functions and Related Controlsand Related Controls
• Authorizing bonds and capital stock
• Issuing bonds and capital stock
• Paying bond interest and cash dividends
• Redeeming and reacquiring bonds and capital stock
• Recording financing transactions
Preliminary Audit Strategies Preliminary Audit Strategies for Long-Term Debtfor Long-Term Debt
Preliminary Audit Strategies Preliminary Audit Strategies for Long-Term Debtfor Long-Term Debt
Substantive Tests of Long-Substantive Tests of Long-Term DebtTerm Debt
Substantive Tests of Long-Substantive Tests of Long-Term DebtTerm Debt
• Initial Procedures
• Analytical Procedures
• Tests of Details of Transactions
Substantive Tests of Long-Substantive Tests of Long-Term DebtTerm Debt
Substantive Tests of Long-Substantive Tests of Long-Term DebtTerm Debt
• Tests of Details of Balances
• Tests of Details of Presentation and Disclosure
Study BreakStudy BreakStudy BreakStudy Break
4. This cycle involves activities such as acquiring debt, issuing bonds, and issuing common stock.
A. Investing CycleB. Financing CycleC. Cash Disbursements CycleD. Cash Receipts Cycle
B. Financing Cycle
Study BreakStudy BreakStudy BreakStudy Break
5. This financing function involves making payments to the proper payees in according with board of director or management authorizations.
A. Authorizing bondsB. Authorizing capital stockC. Paying bond interest and cash dividendsD. Recording financing transactions
C. Paying bond interest and cash dividends
Study BreakStudy BreakStudy BreakStudy Break
6. All of the following are tests of details of balances for the financing cycle, except:
A. Confirmation of accounts payableB. Confirmation of long-term debtC. Review authorization and contractsD. Recalculate interest expense
A. Confirmation of accounts payable
Preliminary Audit Strategies Preliminary Audit Strategies for Shareholders’ Equityfor Shareholders’ Equity
Preliminary Audit Strategies Preliminary Audit Strategies for Shareholders’ Equityfor Shareholders’ Equity
Analytical ProceduresAnalytical ProceduresAnalytical ProceduresAnalytical Procedures
Substantive Tests of Substantive Tests of Stockholders’ EquityStockholders’ EquitySubstantive Tests of Substantive Tests of Stockholders’ EquityStockholders’ Equity
• Initial Procedures
• Analytical Procedures
• Tests of Details of Transactions– Vouch Entries to Paid-in Capital
Accounts– Vouch Entries to Retained Earnings
Substantive Tests of Substantive Tests of Stockholders’ EquityStockholders’ EquitySubstantive Tests of Substantive Tests of Stockholders’ EquityStockholders’ Equity
• Tests of Details of Balances– Review Articles of Incorporation and
Bylaws– Review Authorization and Terms of Stock
Issues– Confirm Shares Outstanding with
Registrar and Transfer Agent– Inspect Stock Certificate Book– Inspect Certificates of Shares Held in
Treasury
• Tests of Details of Presentation and Disclosure