Auditing

Auditing

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

Contributors in Auditing

Auditing

Hidden or opportunity cost incurred in using the already paid for assets, without taking into account the income these assets would earn if hired out to others. For example, not paying rent on the ...

Independent cost analysis

Accounting; Auditing

That is conducted by an entity not associated with the management of the subject firm or the programme or project. See also independent cost estimate.

Incurred cost

Accounting; Auditing

In accounting, an expense that has been incurred during the course of business, and that is a liability until it is paid.

Independent auditor

Accounting; Auditing

Accountant who is not an employee of, and not otherwise related to, the entity he or she is auditing.

Incurable depreciation

Accounting; Auditing

When a defect in an asset is present and becomes too costly to repair.

Incurred

Accounting; Auditing

A charge for a product or service received or delivered.

Key ratios

Accounting; Auditing

Financial performance measures used by business analysts in evaluation of the financial position and income of a firm. These include ratio of net income to average assets (called return on assets or ...