Excel Sheet Download 6604 | Working Paper Templates

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Sheet 1: Instructions

	
	
	
		INSTRUCTIONS
		

	
	
		

		

	
	
		1
		This practice aid is intended to help auditors document the results of testing while meeting the requirements of AU-C section 230, Audit Documentation. This publication is an other auditing publication as defined in AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards (AICPA, Professional Standards). Other auditing publications have no authoritative status; however, they may help you, as an auditor, understand and apply certain auditing standards.
	
	
		

		

	
	
		2
		In applying the auditing guidance included in an other auditing publication, the auditor should, exercising professional judgment, assess the relevance and appropriateness of such guidance to the circumstances of the audit. The auditing guidance in this document has been reviewed by the AICPA Audit and Attest Standards staff and published by the AICPA and is presumed to be appropriate. This document has not been approved, disapproved, or otherwise acted on by any senior technical committee of the AICPA.
	



Sheet 2: Working Paper Template

	
	
	
	
	
	
		Client Name
		

		

		Working Paper #
		

	
	
		Working Paper Title
		

		

		Preparer
		

	
	
		Balance Sheet Date
		

		

		Date Completed
		

	
	
		Prepared By Client?
		

		

		Reviewer
		

	
	
		

		

		

		Date Reviewed
		

	
	
		

		

		

		

		

	
	
		Objective
		

		

		

		

	
	
		
 
		
		
	
		
	
		
	
		Results of Procedures and Evidence Obtained
		

		

		

		

	
	
		
 
		
		
	
		Tickmark Legend
		

		

		

		

	
	
		F
		Footed
		

		

		

	
	
		CF
		Crossfooted
		

		

		

	
	
		Ç 
		Calculation checked and agreed
		

		

		

	
	
		PY
		Agreed to prior-year's working papers
		

		

		

	
	
		TB
		Agreed to trial balance
		

		

		

	
	
		GL
		Agreed to general ledger
		

		

		

	
	
		R
		Agreed to report
		

		

		

	
	
		C
		Agreed to confirmation
		

		

		

	
	
		T
		Traced to (describe source)
		

		

		

	
	
		Ⓐ Ⓑ Ⓒ Ⓓ
		Use to explain procedures and findings 
		

		

		

	
	
		① ② ③ ④
		Use to cross-reference items within the working paper
		

		

		

	
	
		ü
		Use to indicate a test was performed and no exceptions were noted
		

		

		

	
	
		

		

		

		

		

	
	
		Conclusion
		

		

		

		

	
	
		

		

		

		

		

	
	
		

		

		

		

		

	
	
		

		

		

		

		

	

 




Sheet 3: Example - Planning Analytics

	
	
	
	
	
	
	
	
	
	
	
	
		Client Name
		Example Company
		

		

		

		Working Paper #
		EX-1
		

	
	
		Working Paper Title
		Planning Analytics - Sales and CGS
		

		

		

		Preparer
		ABC
		

	
	
		Balance Sheet Date
		12/31/20x6
		

		

		

		Date Completed
		3/15/20x7
		

	
	
		Prepared By Client?
		No
		

		

		

		Reviewer
		DEF
		

	
	
		

		

		

		

		

		

		

		

		Date Reviewed
		3/31/20x7
		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Objective
		

		

		

		

		

		

		

		

		

		

	
	
		
 
		
		

	
	
		

	
	
		

	
	
		Results of Procedures and Evidence Obtained
		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Expectations
		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Trend Analysis
		

		

		

		

		

		

		

		Days Sales in Receivables 
		

		

	
	
		

		

		

		

		

		

		

		

		Current year
		161 days
		Ç 
	
	
		

		 Current year 
		

		 Prior year 
		

		 $ Change 
		% Change
		

		Prior year
		141 days
		Ç 
	
	
		Sales
		 2,500,000 
		FS
		 2,175,000 
		PY
		 325,000 
		14.94%
		Ç 
		% increase
		14.18%
		Ç 
	
	
		Cost of goods sold
		 1,780,000 
		FS
		 1,566,000 
		PY
		 214,000 
		13.67%
		Ç 
		

		

		

	
	
		Gross margin
		 720,000 
		FS
		 609,000 
		PY
		

		

		Ç 
		Inventory turnover 
		

		

	
	
		Gross margin as a % of sales
		28.80%
		

		28.00%
		

		

		

		Ç 
		Current year
		1.84 times
		Ç 
	
	
		Selling expenses
		 230,000 
		FS
		 184,000 
		PY
		 46,000 
		25.00%
		Ç 
		Prior year
		1.67 times
		Ç 
	
	
		Interest expense
		 43,000 
		FS
		 42,000 
		PY
		 1,000 
		2.38%
		Ç 
		% increase
		10.18%
		Ç 
	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Balance Sheet Ratio Analysis
		

		

		

		

		

		

		

		

		

		

	
	
		

		 Current year 
		

		 Prior year 
		

		

		

		

		

		

		

	
	
		Accounts receivable, net
		 1,100,000 
		FS
		 843,000 
		PY
		

		

		

		

		

		

	
	
		Inventory
		 1,000,000 
		FS
		 832,000 
		PY
		

		

		

		

		

		

	
	
		Notes payable
		 437,000 
		FS
		 437,000 
		PY
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Tickmark Legend
		

		

		

		

		

		

		

		

		

		

	
	
		Ç 
		Calculation checked and agreed
		

		

		

		

		

		

		

		

		

	
	
		FS
		Agreed to financial statements
		

		

		

		

		

		

		

		

		

	
	
		PY
		Agreed to prior-year's working papers
		

		

		

		

		

		

		

		

		

	
	
		①
		
 
		
		

	
	
		

		

	
	
		② 
		

	
	
		

		

	
	
		

		

	
	
		

		

	
	
		③
		

	
	
		

		

	
	
		Conclusion

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...Sheet instructions this practice aid is intended to help auditors document the results of testing while meeting requirements auc section audit documentation publication an other auditing as defined in overall objectives independent auditor and conduct accordance with generally accepted standards aicpa professional publications have no authoritative status however they may you understand apply certain applying guidance included should exercising judgment assess relevance appropriateness such circumstances has been reviewed by attest staff published presumed be appropriate not approved disapproved or otherwise acted on any senior technical committee working paper template client name title preparer balance date completed prepared reviewer objective procedures evidence obtained tickmark legend f footed cf crossfooted ccedil calculation checked agreed py prioryear s papers tb trial gl general ledger r report c confirmation t traced describe source use explain findings crossreference items ...

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INSTRUCTIONS

1	This practice aid is intended to help auditors document the results of testing while meeting the requirements of AU-C section 230, Audit Documentation. This publication is an other auditing publication as defined in AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards (AICPA, Professional Standards). Other auditing publications have no authoritative status; however, they may help you, as an auditor, understand and apply certain auditing standards.

2	In applying the auditing guidance included in an other auditing publication, the auditor should, exercising professional judgment, assess the relevance and appropriateness of such guidance to the circumstances of the audit. The auditing guidance in this document has been reviewed by the AICPA Audit and Attest Standards staff and published by the AICPA and is presumed to be appropriate. This document has not been approved, disapproved, or otherwise acted on by any senior technical committee of the AICPA.

Client Name		Working Paper #
Working Paper Title		Preparer
Balance Sheet Date		Date Completed
Prepared By Client?		Reviewer
		Date Reviewed

Objective



Results of Procedures and Evidence Obtained

*Tickmark Legend*
F	Footed
CF	Crossfooted
Ç	Calculation checked and agreed
PY	Agreed to prior-year's working papers
TB	Agreed to trial balance
GL	Agreed to general ledger
R	Agreed to report
C	Agreed to confirmation
T	Traced to (describe source)
Ⓐ Ⓑ Ⓒ Ⓓ	Use to explain procedures and findings
① ② ③ ④	Use to cross-reference items within the working paper
ü	Use to indicate a test was performed and no exceptions were noted

Conclusion

Client Name	Example Company							Working Paper #	EX-1
Working Paper Title	Planning Analytics - Sales and CGS							Preparer	ABC
Balance Sheet Date	12/31/20x6							Date Completed	3/15/20x7
Prepared By Client?	No							Reviewer	DEF
								Date Reviewed	3/31/20x7

Objective



Results of Procedures and Evidence Obtained

*Expectations*








*Trend Analysis*								*Days Sales in Receivables*
								Current year	161 days	Ç
	Current year		Prior year		$ Change	% Change		Prior year	141 days	Ç
Sales	2,500,000	FS	2,175,000	PY	325,000	14.94%	Ç	% increase	14.18%	Ç
Cost of goods sold	1,780,000	FS	1,566,000	PY	214,000	13.67%	Ç
Gross margin	720,000	FS	609,000	PY			Ç	*Inventory turnover*
Gross margin as a % of sales	28.80%		28.00%				Ç	Current year	1.84 times	Ç
Selling expenses	230,000	FS	184,000	PY	46,000	25.00%	Ç	Prior year	1.67 times	Ç
Interest expense	43,000	FS	42,000	PY	1,000	2.38%	Ç	% increase	10.18%	Ç

*Balance Sheet Ratio Analysis*
	Current year		Prior year
Accounts receivable, net	1,100,000	FS	843,000	PY
Inventory	1,000,000	FS	832,000	PY
Notes payable	437,000	FS	437,000	PY

*Tickmark Legend*
Ç	Calculation checked and agreed
FS	Agreed to financial statements
PY	Agreed to prior-year's working papers
①

②



③

Conclusion

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