Explain the following: Understand the PPE acquisition (or investing) cycle and related significant transactions and...
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Accounting
Explain the following:
Understand the PPE acquisition (or investing) cycle and related significant transactions and source documents
Understand the relevant assertions/objectives about PPE balances and transactions that concern the auditors most
Understand the vouching and tracing to test existence/occurrence and completeness assertions of PPE and related transactions
Understand the internal controls over PPE and related transactions
Understand the substantive procedures to audit PPE (capital expenditures vs. revenue expenditures)
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