Subscribe for NewsLetters
Email: *
 
First Name: *
 
Last Name:
 
Organization:
 
Position:
 
Country:
Enter Captcha:*
captcha
Search_btn
Mktg 87124 Audit Net 468x60
Iia Sept 2021 728x90
Auditnet 728x90 Arbutus Banner 1[1]
Ad (728x90) Orange No.Thumb Headline2
Prepaid Expense Workpaper

Name

Prepaid Expense Workpaper

Description

Initial Recognition of Prepaid Expenses

1. When coding supplier invoices for entry into the accounting system, obtain written approval from the assistant controller that a billing should be coded as a prepaid expense. Otherwise, the default entry is to record an expenditure as a expense.

Additional steps include:

  • Subsequent Amortization of Prepaid Expenses
  • Reconciliation of Prepaid Expenses

Download the workpaper template for prepaid expenses. 

Standard (Non-IT) Audit Program

You need to login to add your comment

0 Comments

Download

This file is only available to free subscribers or site license users. Please log in or sign up for a subscription to get this file.

Subscription Level

Free

Type

Procedures

Language

English