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

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 ...