Table of
Contents
Chapter 1 - Auditing Fixed Assets
Auditing Characteristics of Fixed
Assets
Initial Fixed Asset Recognition
Material Misstatement Assessment
Fixed Asset Roll Forward Report
Inspect Newly-Acquired and Older
Assets
Review Repair and Maintenance
Expenses
Investigate Legal Encumbrances
Investigate Possible Impairments
Internal Controls Used by the Client
Activities for an Initial Audit
Chapter 2 - Auditing Intangible
Assets
Intangible Asset Auditing Activities
Chapter 3 - Auditing Depreciation
Sum-of-the-Years Digits Method
Double-Declining Balance Method
Depreciation Accounting Entries
Test the Accumulated Depreciation
Roll Forward Report
Impact of Adjustments to Fixed Asset
Accounts
Activities for an Initial Audit
Chapter 4 - Planning the Fixed Asset
Audit
Final Examination
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