Background information
B-Star is a theme park based on a popular series of children＊s books. Customers pay a fixed fee to enter the park， where they can participate in a variety of activities such as riding roller-coasters， playing on slides and purchasing themed souvenirs from gift shops.
The park is open all year and has been in operation for the last seven years. It is located in a country which has very little rainfall- the park is open-air so poor weather such as rain results in a significant fall in the number of customers for that day （normally by 50%）。 During the last seven years there have been on average 30 days each year with rain.
B-Star is now very successful； customer numbers are increasing at approximately 15% each year.
Ticket sales
Customers purchase tickets to enter the theme park from ticket offices located outside the park. Tickets are only valid on the day of purchase. Adults and children are charged the same price for admission to the park. Tickets are preprinted and stored in each ticket office.
Tickets are purchased using either cash or credit cards.
Each ticket has a number comprising of two elements 每 two digits relating to the ticket office followed by six digits to identify the ticket. The last six digits are in ascending sequential order.
Cash sales
1. All ticket sales are recorded on a computer showing the amount of each sale and the number of tickets issued. This information is transferred electronically to the accounts office.
2. Cash is collected regularly from each ticket office by two security guards. The cash is then counted by two accounts clerks and banked on a daily basis.
3. The total cash from each ticket office is agreed to the sales information that has been transferred from each office.
4. Total cash received is then recorded in the cash book， and then the general ledger.
Credit card sales
1. Payments by credit cards are authorised online as the customers purchase their tickets.
2. Computers in each ticket office record the sales information which is transferred electronically to the accounts office.
3. Credit card sales are recorded for each credit card company in a receivables ledger.
4. When payment is received from the credit card companies， the accounts clerks agree the total sales values to the amounts received from the credit card companies， less the commission payable to those companies. The receivables ledger is updated with the payments received.
You are now commencing the planning of the annual audit of B-Star. The date is 3 June 2009 and B-Star＊s year end is 30 June 2009.
（i） List the substantive analytical procedures that may be used to give assurance on the total income from ticket sales for one day in B-Star；
（ii） List the substantive analytical procedures that may be used to give assurance on the total income from ticket sales in B-Star for the year. （8 marks）
参考答案：
(i)Substantive analytical procedures –completeness of income for one day
–Obtain proof in total. Tickets sold times price should equal day’s income.
–Compare daily sales to budgeted daily sales (for example weekends and bank holidays would expect more income).
–Compare sales with previous days and account for changes such as variations for weather.
Compare sales to souvenirs sales (more people in park means more souvenir sales).
–Compare ticket offices day-by-day and staff rotation to see if sales lower some day/some staff (attempt to identify
fraud also).
–Compare the expected sales from ticket numbers to the total sales amount from cash and credit sales for each ticket
office.
(ii) Substantive analytical procedures –completeness of income for the year
–Obtain the sales income from the previous year. Multiply this by 115% to provide a rough estimate of the income
for this year.
–Obtain information on the number of days with rain during the last year. Where this is more or less than 30, adjust
the income estimate by 1/730 down for each day of rain above 30 or 1/730 up for each day of rain less than 30.
(Note: B-Star only attracts 50% of the normal number of customers on a rainy day; hence one day of rain decreases
total customers by 1/730 in the year.)
–Compare actual income to budgeted income for the year. Ask the directors to explain any significant deviations.
–Obtain industry information on the popularity of theme parks, and change in customer numbers. Compare these
trends to the results obtained by B-Star. Where B-Star performed significantly better or worse than average, obtain
explanations from the directors.