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Obtain a breakdown of PPE/revenue/TRs/TPs/payroll expense/R&D/income tax accrual, cast it and agree the total to Trial balance and draft FSs, to ensure completeness and accuracy.
Maam is this line correct? Can i use this line in all types of scenarios?
I suggest not – a “breakdown” is a schedule provided by the client – I am sure we have discussed before, for example, a schedule of R&D – or additions to PPE during the year. But for trade receivables/payables there will be a list extracted from the sales/purchase ledger – the total of which should also agree to the control account in the general ledger. There might be a breakdown of “accrued expenses” for example, but “income tax accrual” is just one accrual – it doesn’t have a “breakdown” – but the client will have some tax schedule/working to show how it has been calculated.