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2016 Audit Becker > Financial Statement Assertions > Flashcards

Financial Statement Assertions Flashcards

1
Q

Balances

A

Completeness (Undertstament of Liabilities)
Valuation/Allocation/Accuracy
Existence and Occurrence (Overstatement of Assets)
Rights and Obligations

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2
Q

Transactions

A

Completeness
Cutoff
Valuation/Allocation/Accuracy
Existence (Balance Sheet) Occurrence (Income Statement)
Understandability and Classification (More C than U)

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3
Q

Presentation & Disclosure

A

Completeness
Valuation/Allocation/Accuracy
Rights and Obligations
Understandability

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2016 Audit Becker (11 decks)

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