An audit simulation of the substantive procedures in the revenue process – A teaching case incorporating Bloom’s taxonomy
| Autor: | Nader Elsayed, Shahriar M. Saadullah |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Audit theory and practice
Computer science Process (engineering) Test of details Teaching method Audit simulation Accounting Audit Accounting education Bloom’s taxonomy Education Documentation 0502 economics and business Revenue Revenue process Substantive procedures business.industry 05 social sciences Assertion 050301 education 050201 accounting Management assertions Identification (information) business 0503 education |
| Zdroj: | Journal of Accounting Education. 52:100678 |
| ISSN: | 0748-5751 |
| DOI: | 10.1016/j.jaccedu.2020.100678 |
| Popis: | Audit education has been calling for changes in teaching methodology since the 1970s (Burton & Bradley, 1992), as many universities are insufficiently equipping their graduates with the necessary professional skills. This project helps students gain hands-on experience while performing parts of the substantive procedures in the revenue process. The learning objectives of this project include hands-on experience with (1) substantive procedures, (2) error detection and documentation, (3) identification of accounts affected due to the detected errors, (4) effects on financial statements due to those errors, and (5) connecting the errors detected with compromised management assertion(s). The students perform substantive procedures related to the revenue process to find errors in financial statements and supporting documents. Once they detect the errors, the students document them along with the related management assertion(s) that were compromised and then identify the accounts affected and the effect on the financial statements. All the documents and guidelines for implementation are available in the teaching notes. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|
Full Text from ScienceDirect