Auditing

Auditing

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

Contributors in Auditing

Auditing

Written notification of the pending amounts, meant to prod past-due customers to make a payment. Collection letters are sent usually one after another, with the tone and language getting more direct ...

Leveraged lease

Accounting; Auditing

Three-party lease contract under which a lessor borrows some or most of the funds to finance the asset to be leased to a lessee. In this arrangement, (1) financing provided by the lender is without ...

Level payment amortisation

Accounting; Auditing

Repayment of a loan through a fixed number of fixed-amount monthly installments. While the amount of the instalment is same every month, however, it is apportioned unequally between interest and ...

Leverage ratio

Accounting; Auditing

This is an alternative term for debt equity ratio.

Letter of demand

Accounting; Auditing

Document prepared by a lender for a borrower who is paying off a loan before the completion of its term. It shows the principal balance outstanding, accrued interest, interest rebate, and early ...

Levy

Accounting; Auditing

1. Impose or collect an amount (such as a tax) by compulsion or legal authority. 2. The amount so collected. 3. Appropriation or seizure of a debtor's specific asset or property through a lawful ...

Leveraged recapitalization

Accounting; Auditing

Borrowing a large sum of money and distributing it among existing shareholders, so as to make a firm a less attractive hostile takeover target. See also poison pill.