Case Analysis of National Examination for Certified Public Accountants (Ⅱ)

(1) Case clues

Wen Li, a certified public accountant, audited the bad debt provision project of Company A and found that:

1. The amount owed by the original W company100000 yuan. W company has been unable to repay for many years because of its poor financial situation. Last year, the board of directors decided to deal with bad debts and report them to the relevant departments for approval. After the operating conditions of W Company improved, it repaid the original debt of 5 million yuan. The accounting treatment of Company A is to debit "bank deposit" and credit "bad debt reserve".

2. The company used the "aging analysis method" to make provision for bad debts. In that year, there were 8 accounts with full provision for bad debts, totaling 50 million yuan. Among them, there are 2 accounts receivable that are not due, accounting for 20 million yuan; Planned debt restructuring is 654.38+0, with an amount of 654.38+0.5 million yuan; 65,438+0 transactions with the parent company, accounting for 654,380+million yuan; Although the other four are overdue, there is not enough evidence to prove that they cannot be recovered, totaling 5 million yuan.

3. It has been overdue for 7 years, the other party has no debt repayment behavior, and its financial situation cannot be improved in the near future, or the other party has stopped production and is unable to repay the debt owed by 20 million yuan in the near future. When determining the proportion of bad debts, Company A only makes provision for bad debts at 30%.

(B) Case analysis

1. The arrears that have been treated as bad debts according to the accounting system should be debited to the account of "bank deposits" and credited to the account of "accounts receivable" when the repayment is received, so as to fully reflect the credit degree of the defaulting unit and the whole process of economic matters. At the same time, debit the account receivable and credit the account of bad debt provision. The accounting treatment of company A does not affect the amount of accounting statements, but it is not a standardized accounting behavior. Therefore, Wen Li requires the relevant personnel of the audited unit to adjust the original accounting entries in accordance with the system regulations and make up the relevant accounting treatment.

2. According to the provisions of Document No.35 of the Ministry of Finance [1999], "provision for bad debts cannot be fully accrued in the following circumstances: (1) accounts receivable that occurred in the current year and accounts receivable that have not yet expired; (2) It plans to restructure the accounts receivable by debt or other means. (3) Accounts receivable with related parties, especially those arising from transactions or events between parent and subsidiary companies; (4) Other overdue receivables that cannot be recovered without conclusive evidence. " Therefore, if the accounting treatment of bad debt reserve of Company A does not meet the above requirements, it should be corrected. Li Wenying asked the audited entity to recalculate and adjust the amount of relevant projects, and recorded the audit results and the adjustment of the audited entity in detail in the working papers. If the audited entity refuses to adjust, Wen Li shall decide the audit opinion according to the amount and the degree of influence on the accounting statements, and make appropriate disclosure.

3. It is the accounting estimation responsibility of the audited entity to extract different bad debt reserves according to the aging of accounts receivable. Certified public accountants should pay attention to the rationality of accounting estimates in auditing: (1) Evaluate the data on which accounting estimates are based and consider the assumptions on which accounting estimates are based; (2) Check the calculation process involved in accounting estimation; (3) If possible, compare the previous accounting estimates with the actual results of these periods; (4) Check the accounting estimates approved by the management of the audited entity. According to the above procedures, the certified public accountant makes a final evaluation on the rationality of the accounting estimate made by the audited entity.

4. According to the provisions of Document No.35 of the Ministry of Finance, "In addition to conclusive evidence that the accounts receivable cannot be recovered, or the possibility of recovery is not great (such as the debtor's bankruptcy, insolvency, serious cash flow shortage, serious natural disasters and other evidence that the accounts receivable may be lost, and the accounts receivable are overdue for more than 5 years), in the following circumstances, according to the above provisions, the certified public accountant believes that the proportion of the above accounts receivable accrued by Company A should be adjusted and improved. Therefore, Wen Li should make suggestions and ask the audited entity to increase the proportion of bad debt provision; And adjust the amount of related projects accordingly. If the auditee refuses to adjust, the auditor should consider the audit report with reservations.

(3) case evaluation

Bad debt provision is usually the key area of audit. The audit objectives of bad debt provision generally include: determining whether the method and proportion of bad debt provision are appropriate, whether the record of increase and decrease is complete, whether the ending balance is correct, and whether the disclosure is appropriate.

Around the above objectives, the substantive test procedures for bad debt provision mainly include the following aspects:

1. Check bad debt provision. Mainly to understand whether the method and proportion of bad debt provision are in line with the system, whether the amount of provision is appropriate, whether the accounting treatment method is correct and consistent.

2. Check the bad debt losses. For the bad debt loss of the audited entity during the audit, the certified public accountant shall find out whether the reason is clear, whether it conforms to the relevant regulations, whether it has been authorized for examination and approval, whether there are receivables recovered after the bad debt treatment, and whether the corresponding accounting treatment is correct.

3. Check long-term accounts receivable. Certified public accountants should check the detailed accounts receivable (including accounts receivable and other receivables) and relevant original vouchers to find out whether there are long-term accounts receivable that have not been recovered after the balance sheet date, and if so, submit them to the audited entity for proper handling.

4. Check the confirmation results. For the abnormal situation and disputed balance reflected in the debtor's reply, the certified public accountant shall find out the reasons and make records, and suggest the audited entity to make corresponding adjustments when necessary.

5. Analyze the comments. By calculating the proportion of bad debt reserve balance to the balance of accounts receivable and checking it with the relevant proportion of the previous period, we can check and analyze the major differences, so as to find out the audit areas with important problems.

6. Determine whether the disclosure of bad debt provision is appropriate. An enterprise shall clearly state the recognition standard of bad debts, the method and proportion of provision for bad debts, distinguish accounts receivable from other receivables, and disclose the ending balance of provision for bad debts according to the age.

Second, the commodity sales revenue audit case

(1) Case clues

Case 1: When Zhang Jun, a certified public accountant, audited the sales revenue of Company A, he found that the 3 # building and 12 # building of Guanghua Jiayuan jointly developed by Company A and its subsidiaries had been developed and passed the verification of construction projects. Company A has signed a sales contract with the buyer for some houses in the above-mentioned building, with the agreed amount of160 million yuan, and has received some house sales money of 10000 yuan. The accounting treatment of Company A has confirmed that the sales revenue is1000000 yuan. Company A disclosed this in the notes to the accounting statements. Therefore, Zhang Jun, a certified public accountant, consulted the corresponding sales contract, payment voucher and accounting treatment, and thought that he could not obtain other sufficient evidence to prove that the important risks and rewards of the ownership of the commercial house had been transferred, so he could not confirm the sales revenue, and asked Company A to make corresponding adjustment entries.

When Company A refused to accept the adjustment proposal, the CPA issued a qualified audit report. Reservation: "As stated in Note 6 of your company's accounting statements, as of February 3, 2000, Guanghua Jiayuan 3 # and 12 # jointly developed by your company and its subsidiary W Company have been developed and passed the verification of construction projects. Your company signed a sales contract with the buyer for part of the above-mentioned property, with the agreed amount of RMB 6,543.8+0.6 million, and received part of the house price of RMB 6,543.8+0 million. However, we did not go through the owner's check-in procedures, nor did we obtain other sufficient evidence to prove that the important risks and rewards of the ownership of the commercial house had been transferred, and the profit related to this matter was RMB 40 million. "

Case 2: On April 3, 20001year, a firm in Shenzhen issued an unqualified audit report with explanations to Shenzhen Great Wall (Group) Co., Ltd., and the explanation paragraph was "We noticed that as mentioned in Annex 5, as of February 3, 20001day, your company developed Changfeng and obtained the project completion acceptance verification certificate. Your company has signed a sales contract with the buyer for some houses of the above-mentioned property, and has received the purchase price of RMB 6,543,800.6 million, and is now going through the owner's occupancy formalities. Your company has been included in this year's operating income according to the principle of revenue recognition listed in Annex 2. "

Case 3: Certified Public Accountant Wen Li analyzed and rechecked the sales revenue of X Company in 2000, and found that the sales revenue of that year was obviously lower than that of the previous year. Compared with previous surveys, Wen Li found that the production and sales situation of X company this year is the actual situation of the calendar. Wen Li felt that the authenticity of the sales revenue was in doubt, so he randomly checked the relevant accounting vouchers in September and June of 65438+February, and found that there were accounting vouchers for sales invoices in the original vouchers and accounting vouchers in the accounting vouchers. In view of this situation, Wen Li asked the relevant parties and wrote to the other company to explain the accounts payable. It was found that Company A reflected the normal sales income of the enterprise in the "accounts payable" and treated it as temporary deposits of other enterprises.

Wen Li's audit of this business is as follows:

1. Expand the proportion of spot checks on original vouchers, and check whether there are any items reflecting normal sales revenue in "accounts payable" in other months.

2. Require the audited entity to make corresponding accounting adjustments and adjust the amount related to the accounting statements.

3. If the audited entity refuses to accept the adjustment, the verified amount will be compared with the importance level, and the corresponding audit report type will be selected.

(B) Case analysis

In the first case, the CPA paid full attention to the commercial housing jointly developed by the audited entity and its subsidiaries. Because the owner's check-in formalities have not been completed, it has been recognized as the current operating income, and according to the income recognition conditions stipulated in the Accounting Standards for Business Enterprises and the Accounting System for Business Enterprises, the important risks and rewards of commodity ownership have indeed been transferred, so sufficient evidence has not been obtained, so it is reserved.

In the second case, according to the revenue recognition principle of the Auditee's Summary of Annual Report-Note 2 to the Statement, certified public accountants confirm the realization of operating income when the sales contract has been signed, the transfer conditions of the developed products agreed in the contract have been met, the company has transferred the important risks and rewards of commodity ownership to the buyer, the relevant income has been collected or the receipt voucher has been obtained, and the sales cost can be accurately measured. The development products sold by installment shall be recognized as the realization of the current operating income according to the current receivables agreed in the contract after the delivery conditions of the development products agreed in the contract are met. "In the explanation paragraph, it is emphasized that the confirmed operating income of developed products is" the owner's check-in procedure is being processed ".

In the third case, when auditing the sales revenue, certified public accountants should pay attention to whether the audited entity underestimates or overestimates the sales revenue.

Generally speaking, enterprises underreport sales revenue in the following ways:

1. Normal sales income is reflected in "accounts payable", which is treated as temporary deposits of other enterprises and kept separately for bookkeeping, resulting in a decrease in current income and the purpose of paying less taxes. This case is a company.

2. Realized sales revenue shall not be confirmed or deferred.

3. Accounts receivable or bank deposits correspond to inventories, which directly offset inventories or finished products and income.

4. Inflated sales return, that is, sales return only debits "accounts receivable" and credits "product sales income" and "tax payable-value-added tax payable (output tax)", and there are no original vouchers such as red-ink sales invoice, sales return form and commodity acceptance form behind the accounting voucher.

The methods for enterprises to overcharge sales revenue are as follows:

1. For unrealized sales, confirm the sales revenue in advance.

2. Fictitious sales business, return processing in the following year, fictitious income, etc.

3. At the end of the year, the parent and subsidiary companies or affiliated enterprises invoice each other, fictitious income, etc.

Certified public accountants should generally verify these matters through direct investigation or inversion, and ask the audited entity to correct them, otherwise they will issue audit reports with qualified opinions or negative opinions.

(3) case evaluation

The main goal of commodity sales revenue audit is to determine whether the content and amount of sales revenue are reasonable, correct and complete; Sales return. Whether the handling of sales discounts and discounts is appropriate; Whether the accounting treatment of sales business is correct, etc.

Around the above audit objectives, the audit of sales business usually implements the following audit procedures:

1. Find out the principles and methods for determining the sales revenue, and pay attention to whether it meets the income realization conditions stipulated in the accounting standards and accounting system, and whether the previous and later periods are consistent.

2. Choose analytical review method for comparative analysis. Commonly used methods mainly include: comparing the current period with the previous period; Changes in sales revenue of each month in this period; Calculate the gross profit margin of commodities, sales of important customers and interest rate in this period, and analyze whether there are any abnormal changes.

3. Extract the current commodity sales invoice, and check whether the invoicing, bookkeeping and delivery dates are consistent, and whether they are consistent with the delivery documents and sales contracts.

4. Obtain the commodity price catalogue, check whether the sales price conforms to the pricing policy, and pay attention to whether the commodity prices sold to related parties or important customers with related relationships are reasonable, and whether there is a phenomenon of transferring income at low or high prices.

5. Implement the cut-off test of sales. Pay attention to three important dates: invoice date, bill date and delivery date, and implement the sales revenue cut-off test procedure.

6. Combined with the confirmation procedure of accounts receivable, observe whether there is huge unapproved sales business.

7. Check whether the sales discount, sales return and discount business are true, whether the contents are complete, whether the relevant procedures are in compliance with the regulations, and whether the accounting treatment is correct.

8. Investigate the internal sales of the group, record the transaction price, quantity and amount, and check whether it has been offset when preparing consolidated accounting statements.

9. Check whether the disclosure of sales revenue in the income statement is appropriate.

Three. Audit cases of accounts received in advance

(1) Case clues

Zhang Jun, a certified public accountant, found the following audit clues when auditing the prepayment project of Company A:

1.a company received 8 million yuan from W company three years ago, and then paid 2 million yuan to H company according to the entrustment of W company, leaving 6 million yuan. As of the balance sheet date in 2000, the book balance was 6 million yuan.

2. On February 25th, 2000, 65438, Company A adjusted100000 yuan according to the outstanding bank deposit, and recorded it in "accounts received in advance". Zhang Jun checks the accounting vouchers and the attached sales contract one by one, and then checks the product inventory ledger in the warehouse according to the product name and quantity listed in the contract to confirm that the above batch of products have been delivered and the relevant original vouchers have been passed to the accounting department.

(B) Case analysis

1. In general, the supplier of advance payment shall provide the goods to the buyer in time according to the contract or agreement, and settle the payment. Company A received 6 million yuan in advance from Company W for the above economic business, which took a long time and was a large amount. Company A's long-term failure to supply goods should attract the full attention of certified public accountants. In this regard, certified public accountants should adopt the following audit procedures:

(1) Obtain and review the original vouchers of accounting treatment when the business occurs, and obtain audit evidence to confirm the economic nature, so as to judge the existence of liabilities;

(2) Obtain the explanation of the amount confirmation of Company W through the confirmation letter;

(3) If the auditor confirms that the matter is abnormal through the above procedures, the auditor shall issue an appropriate audit opinion according to its nature and the degree of influence on the financial situation, and in accordance with the requirements of the Independent Auditing Standards for Certified Public Accountants in China.

2. According to the provisions of the accounting system, the economic events of the above-mentioned advance accounts100,000 yuan have shown that the sales revenue is established and should be treated as sales revenue. Therefore, certified public accountants should, on the basis of obtaining sufficient and appropriate audit evidence, require the audited entity to make accounting adjustments and objectively record the verification in the audit working papers. If Company A refuses to adjust, the certified public accountant may consider issuing an audit report with a reserved opinion or a negative opinion.

3. When auditing accounts received in advance, certified public accountants should pay attention to the following matters of the audited entity: (1) Whether it is confused with rent received in advance and interest received in advance; (2) Whether the accounts received in advance are accounted as sales income; (3) Whether to use "accounts received in advance" to intercept income; (4) Whether to use the "accounts received in advance" account for fraud.

(3) case evaluation

In audit practice, CPA should audit the accounts received in advance in combination with the sales business. The objectives of advance accounts audit generally include determining whether the occurrence and repayment records of advance accounts are complete, whether the ending balance is correct, and whether the disclosure in accounting statements is appropriate.

Focusing on the above objectives, the substantive testing procedures for advance accounts generally have the following aspects:

1. Check with a large number of resale advance accounts, check accounting vouchers, warehouse delivery vouchers, sales invoices, etc. , and pay attention to the rationality of the occurrence date of these vouchers.

2. Spot check the sales contracts, warehouse receipts and payment vouchers related to advance receipts, check whether the sold goods are resold in time, and determine the correctness and rationality of the ending balance of advance receipts.

3. Select a number of major project account letters received in advance, and prepare a summary table of account letter results according to the reply. The selection of large-scale or long-term projects, related party projects and major customer projects should usually be considered in the credit test samples.

4 Check whether there is debit balance in the accounts received in advance, and decide whether to suggest reclassification adjustment.

5. Check the reasons for long-term losses of accounts received in advance, make records, and submit them to the audited entity for adjustment when necessary.

6. Check whether the accounts received in advance have been properly disclosed on the balance sheet.

First, case clues and analysis

(A) short-term investment audit cases