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HU Credits:
4
Degree/Cycle:
1st degree (Bachelor)
Responsible Department:
Accounting
Semester:
1st Semester
Teaching Languages:
Hebrew
Campus:
Mt. Scopus
Course/Module Coordinator:
Eli Tsarfati
Coordinator Office Hours:
16:00-16:30
Teaching Staff:
Eli Tsarfati
Course/Module description:
Internal control and risk control; Internal auditor; Audit of accounting estimates; Analytical procedures; The distinction between verification of fixed asset and liability; Audit of cash and funds; Securities transaction reconciliations and short-term investments; Customers and sales; Cycle of inventory and cost of sales; Audit of fixed assets and depreciation; Liability cycle reconciliations; Deferred taxes reconciliations; Salaries and benefits reconciliations; Review cutoff items (payables /receivables); Audit of expenses (marketing/ sales/general and administrative); Audit of equity/reserves/ Retained earnings; management representations; Subsequent events or after the date of the report auditor; Using the work of an expert; Auditors' Report (Standard version and deviations from it).
Course/Module aims:
Provision of knowledge in various matters connected to an accountants work as an auditor including audit procedures, techniques in the audit of financial statements and other matters connected to the work of an auditor.
Learning outcomes - On successful completion of this module, students should be able to:
To understand the basic principals of Auditing.
Attendance requirements(%):
0
Teaching arrangement and method of instruction:
Course/Module Content:
1-2. Internal control: it's structure, it's significance and goals, the internal auditor, the evaluation of the internal control, the consideration of the internal audit, communications of audit matters with those charged with governance, comparison between the internal and the external auditor.
3. Audit risks, analytical procedures, estimates audit.
4. Auditing procedures- distinguish between property verification and liabilities verification, the structure of the audit program.
5. Cash conversion cycle
6. Customers buying cycle, external documents.
7. Inventory turnover, observation of inventories taking.
8. Auditing fixed assets and depreciation expenses
9-10. Liabilities- current liabilities, long term liabilities (including long term loans and bonds), contingent liabilities, attachments and encumbrances, payroll and personnel cycle, damages provision and vacation pay, deferred taxes and taxes expenses, securities and short term investments cycle, financial assets, auditing expense reports.
10. Equity (capital stock, capital reserves, accumulated surpluses and dividends).
11. Managers declaration, post balance sheet event, using the work of an expert.
12-14. Auditor's report- the unqualified opinion and deviations.
Required Reading:
For further details, see the syllabus, which appears on the course website
Additional Reading Material:
For further details, see the syllabus, which appears on the course website
Course/Module evaluation:
End of year written/oral examination 100 %
Presentation 0 %
Participation in Tutorials 0 %
Project work 0 %
Assignments 0 %
Reports 0 %
Research project 0 %
Quizzes 0 %
Other 0 %
Additional information:
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