Question 4b i
Marking Guide
up to 1 mark per well described procedure | |
| trade payables and accruals | |
| – calculate trade payable days | |
| – compare total trade payables and list of accruals against prior year | |
| – discuss with management process to quantify understatement of payables | |
| – discuss with management whether any correcting journal adjustment posted | |
| – sample invoices received between 25 october and year end and follow to inclusion in year-end accruals or trade payables correcting journal | |
| – review after date payments | |
| – review supplier statements reconciliations | |
| – perform a trade payables’ circularisation | |
| – cut-off testing pre and post year-end grn | |
| max marks | 6 |