Current liabilities refer to the debts that an enterprise will repay in one year or more in a business cycle, including various payables, advance receipts and short-term loans. The main points of accounts payable audit, notes payable audit and accounts received in advance audit are as follows:
(1) accounts payable.
Authenticity: examine and confirm whether there are false accounts payable statements, cost adjustment and false asset reduction, and issue a confirmation if necessary.
Integrity: review and confirm whether there is any omission of accounts payable, virtual reduction of debt balance, etc., and if necessary, make a zero-balance confirmation letter, that is, send a confirmation letter to a regular supplier with zero sub-ledger balance.
Attribution: find out the situation that the invoice has been received but not recorded.
Valuation: determine whether the enterprise chooses the total amount method or the net value method, and then find out the correctness of the method application and calculation.
Accounting correctness: find out the consistency between the accounts payable subsidiary ledger and the general ledger balance.
Legitimacy: use the accounts payable subsidiary ledger to verify whether there are illegal acts such as income interception.
(2) Notes payable.
Authenticity and completeness: check the original vouchers and corresponding relations to find out whether there are any false columns or omissions.
Valuation: to know whether the notes payable are recorded at face value; If there is a discount, determine the correctness of the discount and the correctness of the net value of the notes payable after deducting the discount.
Classification: Find out the transfer of overdue bills payable principal and interest into accounts payable.
Full disclosure: find out the disclosure of overdue bills and posting bills in accounting statements.