acl assignments 9e final submitted

7/21/2019 ACL Assignments 9e Final Submitted

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ACL Assignments Overview

The ACL software bundled with the textbook comes with a tutorial, which is a PDF file entitled,ACL in Practice. The tutorial contains Cha!ters and utili"es the sam!le data files that areincluded when ACL is installed on #our com!uter. $n addition to the exercises imbedded withinthe ACL in Practice, the %essier&'lo(er&Prawitt author team has created ACL problems foreach cha!ter. The problems associated with Cha!ters ) and * relate to the ACL tutorial datafiles. A new data set entitled Roger Company,created for %essier&'lo(er&Prawitt, is introducedin Cha!ter +. The Roger Company data set is used to sol(e the ACL endofcha!ter problemsfor Cha!ters +*), which are more focused on auditin- conce!ts than are the exercises includedin the tutorial.

ach of the Cha!ters in the ACL in Practicefile are matched with the %essier&'lo(er&Prawitttextbook Cha!ters ) throu-h . /owe(er, with a -ood understandin- of ACL in PracticeCha!ters ) 0 1 2the PDF tutorial bundled with the software3, students can successfull# com!letethe ACL endofCha!ter problemsfor Cha!ters ) 0 )4 of the %essier&'lo(er&Prawitt textbook.

The ACL in Practice Cha!ters )1 can be assi-ned inde!endent of %essier&'lo(er&Prawitttextbook Cha!ters )1. For exam!le, if an instructor would like to assi-n ACL endofCha!terproblems for Cha!ter 5 of the %essier&'lo(er&Prawitt textbook, he or she would need to assi-nACL in PracticeCha!ters )1 an# time !rior to assi-nin- the ACL endofCha!ter problemsassociated with Cha!ter 5 of the textbook. 6tudents -enerall# re7uire between ) 8 to * 8 hoursto com!lete Cha!ters )1 of the ACL in Practice.

Certain ACL !roblems at the end of Cha!ters ))*) re7uire an understandin- of the conce!ts andskills that are tau-ht in ACL in PracticeCha!ters 9 0 . The problems that re7uire com!letionof tutorial2s3 be#ond ACL in PracticeCha!ter 1 are so indicated within the problems.

Jump to specific Chapter(Hold down the CTRL key and click on a link below)

Chapter 1 Chapter 8 Chapter 15







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manner. This document ma# not be co!ied, scanned, du!licated, forwarded, distributed, or !osted on a website, in whole or !art.
http://var/www/apps/conversion/tmp/scratch_5/HYPERLINK%23Chapter1http://var/www/apps/conversion/tmp/scratch_5/HYPERLINK%23Chapter1


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Chapter 1 ACL Exercises and Probles &&www.acl.com&su!!ortcenter&

utorial Assignment (Estimated time to complete tutorial Chapter 1 is 15-! minutes)


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utorial Assignment (Estimated time to complete is tutorial Chapter is !-+! minutes*)


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utorial Assignment(Estimated time to complete the Chapter + tutorial is !-+! minutes*)


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taxes. ;et income before taxes at


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utorial Assignment2Estimated time to complete the Chapter 2 tutorials is !-+! minutes*)


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+. $n the A-e dialo- box, click the Age Onbutton and make sure $ue3$ateis the selectedfield.

1. Chan-e the cutoff date to December +), *4)+.9. $n the A-in- Periods box, delete the numbers )4444 and )*4 so that #our table will

com!ute a O?4 da# !ast due total.

5. /i-hli-ht the Amountfield under the 6ubtotal Fields column.. Click M.

Problem

Assumin- no cash is collected on !ast due accounts, how much will be more than 54 da#s !astdue as of Hanuar# +), *4)1

: *4)1 b# %c'raw/ill ducation. This is !ro!rietar# material solel# for authori"ed instructor use. ;ot authori"ed for sale or distribution in an#



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utorial Assignment(Estimated time to complete is +!-2! minutes*)


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utorial Assignment(Estimated time to complete is 2!-! minutes)


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Problem

As !art of the audit of Accounts Pa#able, #ou want to identif# all in(oices 2


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utorial Assignment(Estimated time to complete is !-+! minutes)


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order com!letes a


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Chapter 8 ACL Probles &&www.acl.com&su!!ortcenter&

(&ote" 'nless otherwise instructed please submit your answers to the ollowin$ problems toyour instructor in a word processin$ document*)

#essier()lover(Prawitt &n'*of*Chapter B, ACL Problems

As introduced abo(e in the ACL problemsfor Cha!ter +,

). Kith an# ACL !roect 2e.-., $f#ou use the Calculatebutton rather than the OFbutton the sam!le si"e window will sta# o!en3.

a. Confidence dro!!ed to ?4 !ercentb. Po!ulation increased to 944,444c. x!ected rror


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Problem -

@sin- #our results from Problem * abo(e>a. Khich of the followin- four in!ut factorsQconfidence, !o!ulation, u!!er error

limit, or ex!ected error rateQhas the smallest effect on the sam!le si"eb. Khich two factors a!!ear to ha(e the -reatest effect on sam!le si"ec. 'o into ACLEs sam!lin- si"e tool and in!ut the factors listed in Problem ) and

then ex!eriment with increasin-l# lar-er ex!ected error rates. Khat ha!!ens asthe ex!ected error rate is nearl# as lar-e as the u!!er error limit or tolerable errorKh# does this ha!!en

Problem

For the followin- three control attributes, #ou want to be ?4 !ercent confident that the !o!ulationde(iation rate does not exceed .9 !ercent.

Attribute )The !urchase order was a!!ro(ed 2!urchasin- de!artment stam! !ro(ides

e(idence3Attribute *The !urchase order, recei(in- re!ort, and (endor in(oice are included in each(oucher !acketAttribute +The accounts !a#able de!artment com!ared !roduct and 7uantities across thethree documents 2initials b# an accounts !a#able clerk and auditor re!erformance !ro(idee(idence3

Gou tested a sam!le of 9* (oucher !acka-es and disco(ered the followin- de(iations>

Attribute )> * de(iations

Attribute *> ) de(iation

Attribute +> 4 de(iations

Kith an# ACL !roect o!en 2e.-., ). 6elect "amplingOO &valuate &rror*. %ake sure Recor'is the selected sam!le t#!e+. nter the a!!licable !arameters 2e.-., Confi'enceis ?4 and "ample "i9eis 9*, =umber

of &rrorsor de(iations listed abo(e31. Click OF

Khat is the u!!er error limit fre7uenc# for each attribute

ased on the results of #our controls testin-, which controls are considered effecti(e Please

ex!lain wh# or wh# not

Problem 0

@se ACL to com!lete !roblems J* and J*J in #our book. $n ACL, u!!er error limit is thesame as tolerable de(iation rate and ex!ected error rate is the same as ex!ected !o!ulationde(iation rate. For !roblem J*, does the !o!ulation amount #ou enter chan-e the results ForJ*J, use the sam!le si"es com!uted b# ACL in J*. ACLEs sam!le si"es and u!!er error limitfre7uenc# will differ from those com!uted usin- the tables in the textbook. Did the differenceslead to different conclusions or auditor decisions

)1: *4)1 b# %c'raw/ill ducation. This is !ro!rietar# material solel# for authori"ed instructor use. ;ot authori"ed for sale or distribution in an#



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)9: *4)1 b# %c'raw/ill ducation. This is !ro!rietar# material solel# for authori"ed instructor use. ;ot authori"ed for sale or distribution in an#



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#essier()lover(Prawitt &n'*of*Chapter 6, ACL Problems



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9. nter the a!!ro!riate !arameters 2i.e., Confi'ence?9, "ample "i9e)9, and the numberof exce!tions #ou obser(ed3

5. Click OF. Khat is the u!!er error limit fre7uenc#

ased on the results from the o!erations #ou com!leted abo(e, can the control be considered

effecti(e Kh# or wh# not

Problem -

Determine an a!!ro!riate sam!le si"e to test the

). !en the

Confi'enceis ?* !ercent

Populationis the sum of the Amount field

#aterialityis )4444

&xpecte' otal &rrorsis )944

5. Click on Calculate. Khat is the a!!ro!riate sam!le si"e

Problem

Create a


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#essier()lover(Prawitt &n'*of*Chapter +2, ACL Problems



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(&ote" 'nless otherwise instructed please submit your answers to the ollowin$ problems toyour instructor in a word processin$ document)

#essier()lover(Prawitt &n'*of*Chapter ++, ACL Problems



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#essier()lover(Prawitt &n'*of*Chapter +, ACL Problems



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#essier()lover(Prawitt &n'*of*Chapter +-, ACL Problems



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(&ote" 'nless otherwise instructed please submit your answers to the ollowin$ problems to

your instructor in a word processin$ document*)




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#essier()lover(Prawitt &n'*of*Chapter +D, ACL Problems



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#essier()lover(Prawitt &n'*of*Chapter +E, ACL Problems



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your instructor in a word processin$ document*

#essier()lover(Prawitt &n'*of*Chapter +B, ACL Problems



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#essier()lover(Prawitt &n'*of*Chapter 2, ACL Problems



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acl assignments 9e final submitted

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