Term
| Obtain listings of inventory and reconcile to ledgers. |
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Definition
| existence, occurrence, rights |
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Term
| Evaluate the client’s planning of physical inventory. |
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Definition
| existence, occurrence, rights, completeness, valuation, cutoff |
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Term
| Observe the taking of physical inventory and make test counts |
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Definition
| existence, occurrence, rights, completeness, valuation, cutoff |
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Term
| Review the year-end cutoff of purchases and sales transactions |
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Definition
| existence, occurrence, rights, completeness, valuation, cutoff |
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Term
| Obtain a copy of the completed physical inventory, test its clerical accuracy, and trace test counts. |
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Definition
| existence, occurrence, rights, completeness, valuation, cutoff |
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Term
| Evaluate the bases and methods of inventory pricing. |
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Definition
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Term
| Test the pricing of inventories |
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Definition
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Term
| Perform analytical procedures |
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Definition
| existence, rights, completeness, valuation, accuracy |
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Term
| Determine whether any inventories have been pledged and review purchase and sales commitments |
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Definition
| valuation, presentation and disclosure |
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Term
| Evaluate financial statement presentation of inventories and cost of goods sold, including the adequacy of disclosure |
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Definition
| presentation and disclosure |
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