Students are asked to perform a cutoff analysis of Needles, Inc. using the DataSnipper technology. Cutoff tests are used in an audit to test management’s assertion that recorded transactions occurred during that period and provides evidence of the accuracy and completeness of a company’s financial statements. Students will review bill of ladings and sales invoices to determine if the transactions were recorded in the appropriate accounting period and if they are accurate, complete and comply with generally accepted accounting standards.
Suitable courses: Accounting information systems, Audit, Forensics