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completeness for credit sale

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › completeness for credit sale

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by Ken Garrett.
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  • May 7, 2014 at 8:33 am #167728
    Mohammad Usman
    Member
    • Topics: 9
    • Replies: 9
    • ☆

    how we can test completeness of credit sales.

    May 7, 2014 at 9:55 am #167736
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10589
    • ☆☆☆☆☆

    For example:

    Trace from sales orders, to despatches, to invoices to entries on the Sales account and receivables accounts.

    Perform an analytical review comparing sales and receivables to the previous year and also comparing GP%.

    Ensure the sequence of invoices is complete.

    Inspect cash received after year end to see if sales should have been recognised before year end.

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