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EXERCISE WORKBOOK
FOR STUDENTS
Name:
LAPOR, SHAN RAE N.
Course and
Section:
BSA-3A
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Table of Contents
1. SAP on Cloud Platform .............................................................................................................................. 3
Exercise 1.1 ............................................................................................................................................... 3
2. Basic Navigation ........................................................................................................................................ 3
Exercise 2.1 ............................................................................................................................................... 3
3. Introduction to IT Audit ............................................................................................................................ 5
Exercise 3.1 ............................................................................................................................................... 5
4. Test of Controls ......................................................................................................................................... 6
Exercise 4. 1 .............................................................................................................................................. 6
Exercise 4. 2 .............................................................................................................................................. 7
Exercise 4. 3 .............................................................................................................................................. 8
Exercise 4. 4 .............................................................................................................................................. 9
Exercise 4. 5 ............................................................................................................................................ 13
Exercise 4. 6 ............................................................................................................................................ 16
Exercise 4. 7 ............................................................................................................................................ 19
Exercise 4. 8 ............................................................................................................................................ 22
5. Substantive Testing ................................................................................................................................. 27
Exercise 5. 1a .......................................................................................................................................... 27
Exercise 5. 1b .......................................................................................................................................... 29
Exercise 5. 1c ........................................................................................................................................... 31
Exercise 5. 2 ............................................................................................................................................ 33
Exercise 5. 3 ............................................................................................................................................ 35
Exercise 5. 4 ............................................................................................................................................ 37
Exercise 5. 5 ............................................................................................................................................ 39
Exercise 5. 6 ............................................................................................................................................ 40
Exercise 5. 7 ............................................................................................................................................ 42
Exercise 5. 8 ............................................................................................................................................ 43
Exercise 5. 9 ............................................................................................................................................ 44
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1. SAP on Cloud Platform
Exercise 1.1
Identify the terminologies being described by each sentence.
1. This is a business management software that allows an organization to use a system of integrated applications
to manage the business. It aims to serve as a backbone for your whole business. ENTERPRISE RESOURCE
PLANNING
2. This is also known as Internal Cloud, is a cloud-based infrastructure operated exclusively for a single organization
with all data protected behind an internal firewall. PRIVATE CLOUD
3. This is also known as External Cloud, is available to the public where data are created and stored on third-party
servers. PUBLIC CLOUD
4. This is a key feature of cloud computing where resources can be accessed anywhere (except on limitations set
by company's internal control). LOCATION INDEPENDENCE
5. This the place where SAP, a European multinational software corporation, was founded in 1972. WALLDORF,
BADEN-WURTTEMBERG, GERMANY
2. Basic Navigation
Exercise 2.1
Fill each blank with the appropriate words or terminologies that will make the statements correct.
1. The MENU BAR displays at the top of the screen. It contains the Windows standard menu (File, Edit,
W window, Help) as well as generic SAP Business One functions.
2. The TOOLBAR is a collection of icon buttons that grant you easy access to commonly-used functions.
3. Navigation in SAP Business One is done using the MODULES MENU It arranges the functions of the
individual applications in a tree structure.
4. The users of SAP Business One are defined in the USER-ETUP window.
5. Accessing SAP Business One on Cloud is done using WEB BROWSER like Google Chrome, Mozilla
Firefox or Safari.
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3. Introduction to IT Audit
Exercise 3.1
Fill each blank with the appropriate words or terminologies that will make the statements correct.
1. IT AUDITis the examination and evaluation of an organization's information technology infrastructure,
policies and operations.
2. The first step in an IT Audit is PLANNING THE AUDIT SCHEDULE
3. On the course of an IT Audit we encounter materially significant findings. What should we do?
COMMUNICATE WITH THE MANAGEMENT IMMEDIATELY
4. What does CAATs stands for? COMPUTER ASSISTED AUDIT TOOLS AND TECHNIQUES SOFTWARE
5. APPLICATION CONTROLS are specific and unique controls specific for computerized applications.
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4. Test of Controls
Exercise 4. 1
Transaction Authorization
1. Perform test on transaction authorization using the Sales Order document
inputting the following information:
Customer:
C1100
Delivery Date:
Today
Item No:
L1000
Quantity:
20
Try to move to another field
Insert Screenshot:
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Exercise 4. 2
Transaction Authorization
2. Perform test on specific user authorization using the Purchase Order document
inputting the following information:
Vendor:
V1000
Item No.:
A1000
Quantity:
50
Unit Price:
25,000
Click
Add
Insert Screenshot:
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Exercise 4. 3
Segregation of duties
1. What modules or Functions inside the System does the student account have no
authorization?
______________
2. What user accounts has limited access to the RU, Laptop, Co.
Give three answers.
1. __________
2. __________
3. __________
Insert Screenshot:
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Exercise 4. 4
Accounting Record
1. Show a sample screenshot of the following documents and Reports necessary for accountants &
auditors:
a. Purchase Order to Outgoing Payment Relationship Map
b. Sales Order to Incoming Payment Relationship Map
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c. Transaction Journal Report for all Transactions performed on the month of January to June for year
2013.
d. General Ledger for the year 2013
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e. Unadjusted Trail Balance for the year 2013
f. Profit and Loss Statement for the year 2013
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g. Balance Sheet for the year 2013
h. Post-Closing Trail Balance for the year 2013
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Exercise 4. 5
Source Doc Control
1. View the list of a particular document to identify if there is any document missing by double
checking the numbering of source documents.
Perform the test on the following Marketing documents:
a. Sales Order
Insert Screenshot:
Are there any irregularities on the numbering series of the system? Explain your answer briefly.
______________
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b. Purchase Order
Insert Screenshot:
Are there any irregularities on the numbering series of the system? Explain your answer briefly.
_________________
c. A/R Invoice
Insert Screenshot
Are there any irregularities on the numbering series of the system? Explain your answer briefly.
_______________
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2. List down Open Items by comparing the document numbers of Sales Order and A/R Invoices
Insert Screenshot:
3. List down Open Items by comparing the document numbers of Purchase Order and A/P Invoices
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Exercise 4. 6
DATA Coding Control
1. View the list of Business Partners and examine if the codes used were according to the
adapted BP Codes of the Company.
a. Are there any irregularities on the Customer Codes?
Insert Screenshot:
b. Are there any irregularities on Customer Names?
Insert Screenshot:
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c. Are there any irregularities on the Vendor Codes?
Insert Screenshot:
d. Are there any irregularities on Vendor Names?
Insert Screenshot:
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e. Are there any irregularities on the account balances?
Insert Screenshot:
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Exercise 4. 7
Field Integration
1. Perform the Missing Data Check on Purchase Order Document. Screenshot Error message
Insert Screenshot:
2. Perform the Numeric-alphabet data checks on Purchase Order Document. Screenshot Error message
Insert Screenshot:
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3 a. Perform a Limit check on the purchase Order Document. Screenshot Error message
Insert Screenshot:
3 b. How many characters are allowed on the Vendor Code?
Insert Screenshot:
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4. Perform Validity Check on Business Partner Master Data. Screenshot Error message
Insert Screenshot:
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Exercise 4. 8
Audit Trail Controls
1. Generate the Journal Entry of the following Invoices:
A/R Invoice No. 7
Insert Screenshot:
A/R Invoice No. 10
Insert Screenshot:
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A/R Invoice No. 14
Insert Screenshot:
A/R Invoice No. 25
Insert Screenshot:
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A/R Invoice No. 32
Insert Screenshot:
A/R Invoice No. 33
Insert Screenshot:
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2. Generate Relationship Map of each Invoice
Insert Screenshot:
3. Which of the following Invoices are still outstanding or uncollected?
_________________
_________________
_________________
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4. How much is the Total Trade Receivable (before any adjustments)?
Insert Screenshot
5. How will you treat negative balances on subsidiary ledgers/customer account? Explain briefly
___________
___________
___________
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5. Substantive Testing
Exercise 5. 1a
Review Sales Document Balances for Unusual Trends and Exceptions
1. Generate query report for all Sales Order with the following data:
Table Field:
ORDR
Select:
DocNum, DocDate, CardCode, CardName, DocTotal
Insert Screenshot
2. Did you encounter any irregularities on the Report? Explain Briefly
YES. A duplicate is spotted with No. 37 and 38.
3. What actions will you take?
An item should be removed since it is the same.
4. Is there a need for us to propose Adjusting Entries?
None.
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5. If Yes, what would be the entry? ***
Insert Screenshot
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Exercise 5. 1b
1. Generate query for Customer-Business Partner Master Data with the following data:
Table Field:
OCRD
Select:
CardCode, CardName, CardType, BalanceSys
Where:
CardType ='C'
Insert Screenshot
2. Did you encounter any irregularities on the Report? Explain Briefly
None.
3. What actions will you take?
None.
4. Is there a need for us to propose Adjusting Entries?
None.
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5. If Yes, what would be the entry? ***
Insert Screenshot
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Exercise 5. 1c
1. Generate query for Customer-Business Partner Master Data with the following data:
Table Field:
OCRD
Select:
CardCode, CardName, CardType, BalanceSys
Where:
CardType ='C'
Sort by:
CardName
Insert Screenshot
2. Did you encounter any irregularities on the Report? Explain Briefly
None.
3. What actions will you take?
None.
4. Is there a need for us to propose Adjusting Entries?
None.
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5. If Yes, what would be the entry? ***
Insert Screenshot
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Exercise 5. 2
Testing the Valuation and Allocation Assertions
1 Open the Aging Report of the customer balances
Insert the following criteria:
Code:
From: C1100
Aging Date
12.31.13
To: C2200
Insert Screenshot
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2. Compute the amount of Allowance for Doubtful Accounts. According to the industry experiences,
the collectability of accounts are as follow:
0 – 1 month = 100%
Over one month not over two months = 98%
Over two months not over three months = 95%
Over three months not over four months = 92%
Over four months = 90%
Show Computations:
11-08-13
201,168 * 0.02
4,023.36
9-27-13
458,216 * 0.08
36,657.28
4,023.36 + 36,657.28
40,680.64*
12-31-13
*Allowance for Doubtful Accounts as of 12-31-13 is PHP 40,680.64
3. What would be the proposed adjusting entry?
Doubtful Accounts Expense
Allowance for Doubtful Accounts
P 40,680.64
P 40,680.64
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Exercise 5. 3
Review of Liabilities Unusual Trends and Exceptions:
1. Generate query for A/P Invoice with the following data:
Table Field:
OPCH
DocNum, DocDate, CardCode, CardName,
Select:
DocTotal
Sort by:
DocTotal
Insert Screenshot
2. Did you encounter any irregularities on the Report? Explain Briefly
None.
3. What actions will you take?
None.
4. Is there a need for us to propose Adjusting Entries?
None.
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5. If Yes, what would be the entry? ***
Insert Screenshot
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Exercise 5. 4
Testing Completeness Assertions
1. Match all GRPO documents with the A/P Invoices Processed. Are there any irregularities?
Insert Screenshot
2. Did you encounter any irregularities on the Report? Explain Briefly
YES. An entry is lacking in Hexagon Computer Shop, and in PC Gilmore there are some records
under GRPO that is not found in A/P Invoices.
3. What actions will you take?
Hexagon Computer Shop should record the lacking entry and PC Gilmore should have a record
in A/P Invoices. Specifically, it should record the A/P Invoice No. 27 PC Express by debiting the goods
received noy inviced and crediting A/P to PC Express.
4. Is there a need for us to propose Adjusting Entries?
None.
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5. If Yes, what would be the entry? ***
Insert Screenshot
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Exercise 5. 5
Testing the Existence Assertion
Examine the Subsequent records of liabilities and perform necessary
tests.
Client provided the following documents and Information:
a. Rental for Offices used in operations are paid on the following month
b. Light, Water, Telephone, Internet Billings are also paid on the following month
c. The clients accountant is having doubt if he performed accruals on payroll accounts for the month of
December.
1. What is the difference between tracing and vouching?
Tracing is the process of looking at financial documents and finding its way to the Financial
Statements. While, vouching provides evidence for occurrence and it starts with looking at the
Financial Statement and finding the original document that supports the amounts.
2. In the test for existence, the procedures performed is commonly vouching of source documents
rather than tracing. True or False?
TRUE
3. What would be the proposed adjusting entries?
Insert Proposed Entry:
G/L Account
A. OC200
B. OC300
C. OC100
Particulars
Rent Expense
Cash
Debit
25,000
Utilities Expense
Cash
52,000
Salaries and Wages
Expenses
Salaries and
Wages Payables
93,000
Credit
25,000
52,000
93,000
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Exercise 5. 6
Audit of Cash
1. Reperform Bank Reconciliation for Metrobank Account No. 9021.
Balance per Bank
Ref.
No.
Add: Deposits in
Transit
237
1,242,771.20
247
368,808
225
45,000
233
236
158,800
302,400
Less: Outstanding
Checks
Total adjustments
184,871.20
1,107,379.20
1,292,250.40
Adjusted Balance
Balance per Book
Add: Interest
earned
N/R Collected
by the bank
Less: Bank
Charge
Total Adjustments
Adjusted Balance
1,101,550.40
1,200
190,000
500
190,700
1,292,250.40
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2. What would be the proposed adjusting entries?
Insert Screenshot
Miscellaneous Expense
Metrobank account
Miscellaneous Income
Check Clearing
500
190,700
500
190,700
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Exercise 5. 7
Audit of Inventories
Exercise:
1. Reperform the Cost vs. NRV Procedures.
Laptops
Cost (PHP)
NRV (PHP)
Difference (PHP)
A1000
D1000
L1000
S1000
23,000
25,000
28,000
27,000
28,000
25,000
28,000
30,000
5,000
0
0
3,000
2. Write down your findings and proposed adjusting entries
None.
Insert Screenshot
3. Complete the sentence:
Under GAAP, Inventory is recorded as the lesser of COST or MARKET VALUE.
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Exercise 5. 8
Audit of Prepayments
According to company’s personnel, the estimated remaining Office Supplies is 20% of the original
purchased amount. As for the insurance, upon examination of the Insurance Contract, it is for 2 years
starting on its purchase date which is also the posting date. Do the same procedure for Insurance
Expense. (Hint: The insurance premium is recorded using Expense Method)
1. Insert Screenshots of General Ledger showing office Supplies
2. Write down your findings and proposed adjusting entries
Insert Screenshot
FASTTRACK IT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph
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Документ1 printed on 5/27/2022 12:49 PM
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Exercise 5. 9
Audit of Fixed Asset
1. Compute the depreciation expense for the fixed assets. Use the table below for your computation.
Acquisition
Acquisition
Salvage
Yearly
2013
Depreciation
Fixed Asset
Date
Cost (PHP)
Value (PHP)
Depreciation
(PHP)
Office
03.29.2013
240,000
24,000
43,200
32,400
Equipment
Office Furniture
01.15.2013
200,000
20,000
36,000
36,000
Delivery Truck
02.28.2013
1,000,000
100,000
90,000
75,000
Leasehold
Improvements
01.31.2013
1,500,000
150,000
67,500
61,875
TOTAL DEPRECIATION FOR 2013
205,275
2. Note your findings below and your proposed adjusting entries:
Insert Screenshot
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FASTTRACK IT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph
Page 44 / 44
Документ1 printed on 5/27/2022 12:49 PM