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

Adequate disclosure

Accounting; Auditing

Accounting concept that financial statements and their accompanying notes (footnotes) should cover all pertinent data believed essential to the reader's understanding of the firm's financial ...

Adaptive exponential smoothing

Statistical forecasting technique that takes seasonal variations into account through a coefficient. This coefficient is allowed to fluctuate with time to reflect significant changes in the pattern ...

Adaptive control method

Accounting; Auditing

Advertising-expense budgeting method that employs market research to estimate sales volume and profitability levels, and adjusts the budget accordingly. See also affordable method, competitive parity ...

Actuarial cost method

Accounting; Auditing

Accounting technique used in computing the present value of future benefits (payable to the pension plan participants) and fund administration expenses, and in assigning these costs to the respective ...

Activity ratios

Accounting; Auditing

Financial ratios which measure how effectively a firm is using its assets. Examples include accounts receivable turnover, asset turnover, and inventory turnover ratios.

Adjunct account

Accounting; Auditing

The place where an increased face value of an asset is recorded. An asset that is recorded in this account is considered bonds payable because this amount increases if the face value of the ...

Actuarial valuation

Accounting; Auditing

Pension fund value as determined by computing its normal cost, actuarial accrued liability, actuarial value of its assets, and other relevant costs and values.