Analytical procedures - a basic exercise

[@adnannawab7311]

Very Informative stuff. good to know the links between different areas of F/S.

[@Engycation]

Very nice analytical based assessment

[@amandalovestoaudit]

Thanks!

[@mreynol1]

Glad you uploaded a new video. I love watching your videos. It has helped me with basic concepts. You should really consider getting your PH.D. You would be great!

[@amandalovestoaudit]

+mreynol1 hi! I've actually already got one - I completed a PhD in auditing at the UNSW. My thesis was on how auditors collect sufficient appropriate evidence 😊

[@mreynol1]

It's no wonder why your videos are so great! You really have mastered this idea of auditing. Please don't stop posting. This is great stuff!

[@nurlannasibov2083]

thank you Amanda.

[@marcusz9320]

Very informative 👏

[@efg1608]

how do you get the industry result? just a new follower

[@amandalovestoaudit]

Hi! It is usually given to you in the question :) And welcome! I have a free full study guide here on my website that might be helpful - amandalovestoaudit.com/learning-resources/audit-study-guide/

[@chantel2689]

Very helpful! Thank you :)

[@MrKhalody70]

thanks, Amanda

[@dinhtran20]

thank you Amanda!!

[@mohabmagdi]

This video is great thx

[@chris1806]

Accounts receivable turnover has gone down, so doesnt that mean that our debtors pay quicker NOT slower ? i.e it is taking less time to collect money

[@amandalovestoaudit]

Hi Chris! AR turnover is how many times you collect your AR balance each year. So 12 is collecting the entire balance monthly (this equates to Days in Receivables being 30/31). If the ratio goes to 6 - you collect the entire balance every 2 months. This equates to Days in Receivables being about 60. So you want to see it going up - collecting funds faster. It can be easy to get Turnover mixed up with Days in Receivables (where it is the opposite trend, you want days in rec to go down)

[@chris1806]

Amanda, I think I got confused because of the way you do the formula. What we normally do is as follows: debtors/revenue*365 while you do it the other way around

[@kurtdarmanin2399]

Hi Amanda is there anyway I can practice case studies on analytical procedures?

[@amandalovestoaudit]

Hey Kurt - I’d pick a few well known companies and search for any investing websites that have conducted ratio analysis. Then review that analysis to determine whether anything is of concern.

[@Namnguyen-ii8wf]

thanks a lot Amanda!!

[@mohabmagdi]

Isn't the detection risk supposed to be lower as these accounts have high risk of misstatements require more evidence which will lower the detection risk

[@amandalovestoaudit]

Yes - where the risk of misstatement in an account is higher, DR should be lower (for that account)

[@fionyung7127]

Hey dear, I'm feeling confused that by using the substantive approach in Qa, why did u say because the DR is higher?!! Should it b low DR therefore substantive approach?!! Thank u!!

[@amandalovestoaudit]

Fion - is this in this video? With Low DR you'd definitely use a Substantive audit strategy

[@iamChronoz]

Hi. it is in 4:57 where you've written Higher DR. Overall great video! i know clearly understand how analytical procedure works. Bless you.

[@MosesCherrington]

thank you

[@ryanquiambao5780]

Hi. Is ASA the same with ISA? I'm studying ISAs. ☺

[@amandalovestoaudit]

Hi Ryan - ISAs are the same as ASAs (they are just the Australian name)

[@ryanquiambao5780]

AmandaLovesToAudit Thanks, Amanda.

[@fionyung7127]

I love u A!!!!

[@MultiPtest]

be easy on ads, i can't watch 1 minute of content with getting bombarded with 2 minutes of ads

[@SyedAbuzar]

BRUH TF IS THIS

[@fazy1484]

tuje nai samaj ayega be nikal

[@SyedAbuzar]

@@fazy1484 tujhe kaunsa samajh aaya

[@SyedAbuzar]

@@fazy1484 ullu