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Auditors Often Make Use of Computer Programs That Perform Routine

question 68

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Auditors often make use of computer programs that perform routine processing functions such as sorting and merging.These programs are made available by IT companies and others and are specifically referred to as:


Definitions:

Sales Collected

The actual revenue received from customers, including cash sales and collections on account receivables.

Raw Materials Inventory

The total cost or value of all the raw materials that are to be used in production and are currently stored in inventory.

Raw Materials Production Needs

The quantity and type of raw materials required to meet production targets based on the designed product and manufacturing processes.

Raw Materials Cost

The expense associated with acquiring the unprocessed materials required in the manufacture of products.

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