24 Terms
Home > Industry/Domain > Accounting > 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
Allocation
Accounting; Auditing
Distribution according to a plan. Depreciation, amortization, and depletion are methods to allocate costs to periods benefited.
Accounting and review services
Accounting; Auditing
Are official pronouncements covering compilation and review engagements. Compilation is presenting in the form of financial statements information that is the representation of management (owners) ...
EDI or Electronic Data Interchange
Accounting; Auditing
Is the use of communication between an entity and customers or suppliers to transact business electronically. Purchase, shipping, billing, cash receipt, and cash disbursements can be completed ...
EDP or Electronic Data Processing
Accounting; Auditing
Processing of information by computer as opposed to handwritten records.
Going concern assumption
Accounting; Auditing
Assuming the company will continue in operation long enough to realise its investment in assets through operations (as opposed to sale). Presenting assets at historical cost is justified by assuming ...
Gross margin percentage
Accounting; Auditing
The gross margin from an income statement divided by net sales revenue.
Hard copy
Accounting; Auditing
A printed copy of information as opposed to information stored in computer readable form.
