Complete the plans and procedures worksheets
Each work program features an analysis section as shown in the below figure.
The Analysis section pulls information from the trial balance and displays it in graphs or tables. It presents data visually and it only includes trial balance information for relevant accounts and groups to help you identify potential client inquiries.
Plans and procedures work programs also include assertions. Assertions are implicit or explicit claims and representations regarding the appropriateness of various elements.
Take 1.101 Property, plant and equipment, for example:
Item 2, Analytical procedures includes the following assertions:
- C—Completeness
- E—Existence
- AV—Accuracy and Valuation
- P—Presentation
To change the assertions for a specific procedure:
-
Select Edit (
) and then the assertions beside the procedure.The Procedure addresses the following assertions popup displays.
-
Use the check boxes to select the assertions to apply to the procedure.
To learn more, see Add assertions in procedures .
Complete the Plans and procedures work programs. Add assertions and annotations if needed. Use issues (
) to add review notes, to-do's, considerations, and so on. To learn more, see Add annotations and Add, review and resolve issues.
As you complete each form, sign off procedures based on the assertions that display. Select Complete, no exceptions, Completed with exceptions or N/A. You can also use the text field at each procedure to enter any additional information.
