Quote:
Originally Posted by Unregistered
there is nothing complicated in doing variance analysis for 'complex accounts'.
Accounts are never complex. Variance analysis is just writing cock and bull story. Dk how to write just ask client what to write.
The only more complicated part is doing valuation/complex accounting policy adoption like IA, Impairment etc. Nothing else is very complicated in audit.... A rat with half a brain can do it. Sometimes if u faced with a roadblock on audit ****, just ask client. Stop trying to figure things out by yourself.
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The complex accounts I’m referring to are like impairment etc, hedging, consol etc. as an intern, I don’t have experience with these because the accounts I work on are ”simpler” like search for unrecorded liabilities, cash, vouching, maybe test of controls etc
Things like journal entry testing I’m not sure too because I only follow instructions on how to run the tests so I don’t know how to write analysis if got any findings because this kind of thing my seniors will take over…
IVe also not been in an engagement from start to end so I also dk how to wrap things up etc like how to write the auditor report, produce the audited FS etc
^ because of all these gaps I feel I cannot only spend 1 year as an associate to gain more experience