Audit Assertions is the 5th module of 17 that comprise the ABC's of Auditing course provided by the Finance Learning Academy (www.FinanceLearningAcademy.ca). This 10 minute informative video provides an overview of audit assertions and illustrates the concepts using inventory and payroll examples.
To understand audit assertions (presentation and disclosure, rights and obligations, existence and occurance, completeness, and valuation) with the help of showing inventory and payroll examples.
Target Student Population:
Students taking an auditing course, which is usually an upper-level college course.
Prerequisite Knowledge or Skills:
Intermediate Accounting II
Type of Material:
Used for an in-class presentation/open discussion or homework assignment in an auditing class.
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Evaluation and Observation
This 10 minute video presenation provides content that is both current and relevant.
The information provided is accurate and sufficient to learn the basic concepts associated with audit assertions.
The integrative content discussed consists of transactions cycles, audit procedures, audit evidence and financial reporting. MLI>Concepts from prior videos that are applicable are reviewed prior to delving into new content. Concepts are summarized very well.
Potential Effectiveness as a Teaching Tool
The author is very enthusiastic about the auditing profession and has a captivating voice.
The author is also able to interject meaningful charts and graphics to illustrate concepts nicely during his presentation.
The video can be viewed multiple times as needed. It can be used as a short module (10 minutes) in class or outside of class.
It would also be relatively easy to develop assignments or formative assessments to help students determine whether they have grasped the concepts correctly. The difference between existence and completeness assertions can often times be confusing.
Teachers and students could learn a lot in a short time.
Ease of Use for Both Students and Faculty
The author’s website and related educational videos are professionally done. The use of graphics and illustrations is excellent. A description of each video including essential illustrations has been included separately from the actual video.
The viewing and be enlarged to full screen. Navigation allows for pausing and rewinding when deemed necessary by the user.
The author has a gift for presenting complex technical material in a very simple easy-to-understand manner. The author also pauses the discussion at appropriate times. This aspect of the presentaion will allow instructors to answer students' questions. It also allows the audience to process information being presented.