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Audit of Other Assets and Long-term Financing
Chapter 13 Audit of Other Assets and Long-term Financing
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Audit of Property, Plant, & Equipment
First Time Audits Inherent Risks Evaluating Control Risk and Control Effectiveness Tests of Property Additions and Disposals Authorized Classified Valued Disposals
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Audits of Property, Plant & Equipment (cont.)
Audit Considerations for Capitalized Leases Asset Impairment Discontinued Operations Depreciation Expense and Accumulated Depreciation Natural Resources Disclosure Estimation of Reclamation Expense Research and Development Costs
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Audits of Mergers & Acquisitions
Overview of Accounting Issues Purchase Accounting Leveraged Buyouts (LBO) Audits of Mergers and Acquisitions Goodwill Audit problems with leveraged buyouts
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Audits of Financing Activities
Bonds: Major Considerations Value, premium, discount Interest Gains/Losses Restrictions
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Bonds Bond Issuance and Amortization Schedule
Periodic Payments and Interest Expense Disclosure Examination of Bond Indenture
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Common Stock & Owner’s Equity
Major Transactions affecting Stockholder’s Equity New stock issuance Purchase or sale of treasury stock Stock dividends or stock splits Donated capital Dividends Transfer of net income to retained earnings Prior-period adjustments
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Common Stock & Owners Equity
Valuation Disclosure
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Audits of Financing Activities
Accounts Included: Notes Payable Mortgages payable or contracts payable Special contracts Special bonds Preferred stock Stock options and warrants
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