Term
| Invoices supported by customer purchase orders. Bills of lading or other shipping documents exist for all invoices |
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Definition
| Occurrence - Check this existence |
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Term
| Recorded Sales in Sales Revenue Account are supported by Invoices |
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Definition
| Occurrence - Vouch debits in AR to supporting sales invoices |
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Term
| Invoices, shipping documents, and sales orders are pre-numbered and the numerical sequence is checked |
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Definition
| Completeness - scan for sequence |
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Term
| Overall comparison of sales are made periodically by a statistical or product line analysis |
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Definition
| Completeness - Examine evidence of client review |
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Term
| Credit sales are approved by credit department |
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Definition
| Accuracy - examine invoice for accuracy |
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Term
| Prices used to prepare invoices are from the authorized price schedule |
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Definition
| Accuracy - Compare prices to approved price listing |
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Term
| Date of shipping documents is compared to invoice date |
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Definition
| Cutoff - Check agreement of date of shipment to sales invoice date. Check GOB terms. |
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Term
Sales to subsidiaries and affiliates are classified as intercompany sales
Credit sales are posted to customer's individual accounts |
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Definition
| Presentation and disclosure - Trace posting of intercompany sales, sales returns, to sales. |
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