F8

Name the 8 management assertions for the financial statements
- Completeness
- Accuracy
- Cut-off
- Classification & understandibility
- Occurance
- Valuation & allocation
- Existence
- Rights & obligations
Which assertions answer the question: "Should it be in the FS?"
C.O.R.E.
- Cut-off
- Occurance
- Rights & obligs
- Existence
Which assertions answer the question: "Is it included at the correct value?"
- Accuracy
- Valuation
Which assertions answer the question: "Are there more?"

Completeness
Which assertions answer the question: "Is it properly disclosed?"
- Allocation
- Understandibility
Which assertions affect the IS?
C.A.C.O.C
- Completeness
- Accuracy
- Cut-off
- Occurence
- Classification
Which assertions affect the SFP?
C²R.E.V
- Completeness
- Classification
- Rights & obligs
- Existence
- Valuation & allocations

Author

jonochall

186085

Card Set

Description

Assertions

Updated

2012-11-29T19:19:03Z

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