Auditors Sometimes Prepare a Proof of Cash When the Client

question 96

Essay

Auditors sometimes prepare a proof of cash when the client has material internal control weaknesses in cash.List two procedures that the proof of cash determines were or were not done.

Identify the 5Ss and understand why the list sometimes extends to seven elements.

Recognize JIT policies for suppliers and the expectations from them.

Understand the implications of reducing lot size to one in JIT and lean production.

Understand the use of kanban signals within a production system.

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Definitions:

Inkjet

An inkjet printer is a type of computer printer that creates images by propelling droplets of ink onto paper, commonly used for home and office printing.

Master Boot Record

A type of boot sector at the beginning of a storage device that contains information about partitions and the bootloader.

Bootrec

A Windows command used to repair and recover from hard drive problems.

Inverter

Converts low DC voltage to high AC voltage for the backlight bulb in an LED display.