Question 1d
Marking Guide
up to 1 mark per substantive procedure | |
– check additions of bank reconciliation | |
– obtain bank confirmation letter | |
– bank balance to statement/bank confirmation | |
– cash book balance to cash book | |
– outstanding lodgements | |
– unpresented cheques review | |
– old cheques write back | |
– agree all balances on bank confirmation | |
– unusual items/window dressing | |
– security/legal right set-off | |
– review reconciliations for saving (deposit) accounts | |
– cash counts for significant cash balances | |
– review disclosure of bank and cash in financial statements | |
max marks | 7 |