Lesson: Investment Cycle

This lesson delves into the investment cycle, which can involve a company that buys and sells stocks, securities, debt, or equipment. The discussion covers various aspects of the cycle, such as unrealized gains or losses, dividend and interest income, and the purchase of equipment. The lesson then focuses on account balance, transaction, and presentation and disclosure assertions. Topics covered include searching for unrecorded purchases, confirming securities held by a custodian, requesting information from counterparties, and performing analytical procedures. Additionally, the lesson addresses the valuation, allocation, and accuracy of investments, as well as the existence, occurrence, rights, and obligations associated with these investments. Overall, the lesson provides a comprehensive overview of the investment cycle and the various assertions related to it.