Welcome to the Physical Inventory Counts assignment. In this assignment, you’ll get an overview of physical inventory counts, practice with mini assignments, and explore real-world examples of how these counts impact audits.
Learning objectives
- Explain the significance of inventory counts in ensuring accurate financial reporting and inventory management.
- Describe the components of the audit risk model and explain their relevance to the audit of inventory.
- Perform physical inventory count procedures, such as sheet-to-floor and floor-to-sheet tests, to verify inventory accuracy.
- Analyze the impact of technological advances—such as barcodes, RFID tags, drones and artificial intelligence—on inventory counts and their implications for management and auditing processes.
Suitable courses: Audit
You must have an account with EYARC Experience and then go to the Assignment Catalog to review
Join EYARC for Full Access
EYARC Experience
Turn case studies into powerful teaching moments for your students. Active EYARC users can explore our experiential learning platform to access cutting-edge curricula and innovative teaching resources.
Try It NowAcademic Case Materials
Access free resources to prepare students for the global marketplace. Resources include case studies, data sets, analytics workbooks, videos and many other tools focused on business and accounting topics.
To search by multiple tags, enter the search word followed by a comma and the next word, etc.
For example, entering "Audit, Excel, Intermediate" will list cases related to audit AND Excel AND intermediate difficulty.
To search by a single tag, enter it in the search box or click on the tag below in the Popular Tags area.
