Auditing

Auditing

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

Industry: Accounting

Add a new term

Contributors in Auditing

Become a Contributors

Auditing

Level load

Accounting; Auditing

1. Charge or fee that remains fixed over a range. 2. Output rate that balances different production rates, thus eliminating bottlenecks and minimising work-in-process inventory.

Recoupment

Accounting; Auditing

1. Direct or indirect recovery of funds spent (such as R&D costs) on an activity (such as from licencing the resulting know how). 2. Right of a defendant to claim elimination or reduction of the ...

Account history

Accounting; Auditing

Bank's summary statement on the activities of a an account during a particular period, such as a quarter or a year.

Implosion of bill of materials

Accounting; Auditing

Process in which the requirements of a top-level or higher-level object or plan are determined from the consolidated requirements of the lower-level (sub) objects or plans. For example, the ...

Imprest amount

Accounting; Auditing

Self-checking account where a fixed balance is maintained by regular replenishments and used for paying small, routine operating expenses. Also called Imprest account, Imprest fund, petty cash ...

A cash fund set aside for minor expenses in a company's operations, including the purchase of supplies and non-personal operating expenses, which must be authorised by an imprest fund cashier. Also ...

In real terms

Accounting; Auditing

Growth, income, value, wage, yield, etc., expressed as a quantity from which unreal (apparent or nominal) increase caused by inflation has been subtracted.