Auditing

Auditing

The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.

Industry: Accounting

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Auditing

Trace

Accounting; Auditing

Follow a transaction through the steps of the system.

Treasurer

Accounting; Auditing

The officer who controls the entity's funds. The treasurer normally signs cheques and is responsible for cash management.

Treasury stock

Accounting; Auditing

Is stock of the corporation that has been issued and later reacquired. It is not an asset. It is a reduction of stockholders' equity. Treasury stock can be recorded at either its cost or its par ...

Trend analysis

Accounting; Auditing

An analysis of the change in something over time. Analytical procedures, which compare financial statement ratios of different years, are an example of trend analysis.

Trial balance

Accounting; Auditing

A statement of open debit and credit accounts in a ledger to test their equality.

Inventory turnover is a measure of the time from receipt of inventory to its sale. It is found by dividing cost of sales by average inventory. Receivables turnover is a measure of the time it takes ...