Question 1b
Marking Guide
up to 1 mark per substantive procedure, max of 2 for additions and max of 2 for disposals. | |
| additions | |
| cast list of additions and agree to non-current asset register | |
| vouch cost to recent supplier invoice | |
| agree addition to a supplier invoice in the name of pear to confirm rights and obligations | |
| review additions and confirm capital expenditure items rather than repairs and maintenance | |
| review board minutes to ensure authorised by the board | |
| physically verify them on the factory floor to confirm existence | |
| disposals | |
| cast list of disposals and agree removed from non-current asset register | |
| vouch sale proceeds to supporting documentation such as sundry sales invoices | |
| recalculate the profit/loss on disposal | |
| max marks | 4 |