Page 90 - Demo

جميع الحقوق محفوظة ـ اإلعتداء عىل حق املؤلف 90 بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونية4) Verify depreciation expense5) Verify the ending balance in accumulated depreciation1-The objectives of auditing the Property plant and equipment balance for current period acquisitions are 1) Existence: Current year acquisitions as listed exist o Physically examine assets o Examine vendor`s invoice and receiving reports 2) Completeness: all Existing acquisitions are recorded.o Review lease and rental agreements o Examine maintenance and repairs accounts for any expensed item that should be capitalized 3) Accuracy: Current year acquisitions as listed are accurateo Examination of vendors’ invoice 4) Classification: Current year acquisitions as listed are correctly classified o Examine vendor`s invoice to uncover items that should Be recorded as equipment o Examine maintenance and repairs accounts for any expensed item that should be capitalized o Examine lease and rent expenses for operating lease. 5) Cutoff: Current year acquisitions as listed are recorded in correct periodo Review transactions near year end date for correct period 6) Right and obligations: rights: o Examine vendors’ invoice o Examine purchase and lease contracts o Examine property deeds for land and major buildings