6 Terms
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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
Equity
Accounting; Auditing
On a company's balance sheet, the amount of the funds contributed by the owners (the stockholders) plus the retained earnings (or losses). Also referred to as "shareholders' equity".
Current liability
Accounting; Auditing
Amounts owed by a business to other organisations and individuals that should be paid within one year from the balance-sheet date.
Balance sheet
Accounting; Auditing
A statement of the total assets and liabilities of an organisation at a particular date, usually the last day of the accounting period.
Deferred tax asset
Accounting; Auditing
An asset on a company's balance sheet that may be used to reduce any subsequent period's income tax expense.
Cash flow
Accounting; Auditing
The amount of cash generated by a company, an indication of its ability to pay a dividend and of its future financing requirements.
Annual report
Accounting; Auditing
An annual publication that public corporations must provide to shareholders to describe their operations and financial conditions.
Activity value analysis
Accounting; Auditing
Exercise that measures the cost of an activity, on the basis of the time spent by employees in its performance and their respective wages. This analysis is used in controlling and reducing operating ...
