Professional Documents
Culture Documents
Tugas Resume - PAK II - 10
Tugas Resume - PAK II - 10
Tugas Resume - PAK II - 10
Kelas : AKS 6A
NIM : 0502181020
Resume
Accounts Payable is the company's obligations to third parties, which are due or must be
repaid in less than or equal to one year, or in the company's normal operating cycle, usually
using the company's current assets.
Account payable : obligations to third parties from the purchase of goods or services on
credit that must be repaid in less than or equal to one year.
Short term loan: That is a loan obtained from a bank and supported by a credit agreement,
it can be in the form of a working capital loan or an overdraft facility.
Tax payable: That is the company's tax obligations that must be paid off in the next period,
for example, PPH 21, PPH 25,PPN.
Accrued costs: These are costs that have already been incurred and are an expense for the
period under review, but will only be paid off in the next period.
- There are several current liabilities audit objectives that need to be considered,
including:
- To ensure that the internal control of current liabilities is adequate.
- To believe that current liabilities are supported by complete evidence and come
from transactions that actually occurred.
- To ensure that all transactions have been recorded as of the balance sheet date.
- To believe that the amount of accrual expense is reasonable
- To ensure that the recording of transactions is in accordance with SAK.
- Things to check: date of occurrence, amount of debt, terms of debt, interest,
maturity.
Substantif test :
Check whether the document and subledger match or not
Check the journal on the relevant date
Check cash receipts
Look to the general ledger mutasi
Check interest payments
- To believe that the debt in foreign currency has been converted at the BI rate.
- To ensure that all requirements in the credit agreement have been met to avoid
bank default (right and obligation).
- To check whether the presentation of current liabilities in the balance sheet and
notes to financial statements is in accordance with SAK.
- Obtain assurance about the reliability of the accounting records related to trade
payables.
- Proving the existence of trade payables and the occurrence of transactions related to
trade payables listed on the balance sheet.
- Proving the completeness of transactions recorded in the accounting records and the
completeness of accounts payable balances presented on the balance sheet.
- Proving the client's obligations listed on the balance sheet.
- Proving the fairness of presentation and disclosure of trade payables on the balance
sheet.
Initial procedure
Trace the opening balances of the previous year's working papers and use generalized audit
software to examine general ledger accounts for any unusual journal entries, and to develop
a list of amounts owed at the balance sheet date.
Analytical procedure
The auditor's objective in applying this procedure is to develop expectations for
accounts payable balances and the relationship between accounts payable and other
key accounts such as purchases or inventories.