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

Key performance indicators (KPI)

Accounting; Auditing

Key business statistics such as number of new orders, cash collection efficiency, and return on investment (ROI), which measure a firm's performance in critical areas. KPIs show the progress (or lack ...

Kids in parents' pockets eroding retirement savings (KIPPERS)

Accounting; Auditing

When an adult child moves back home because he or she is unable to afford the expenses of living on his or her own, many parents often have to dip into their retirement accounts to absorb the extra ...

Kaizen budgeting

Accounting; Auditing

An approach to budgeting which takes into account the costs of improving the product. Instead of projecting costs based on current practises and methods, projected costs of improvement are already ...

Kaizen costing

Accounting; Auditing

A process wherein a product undergoes cost reduction even when it is already on the production stage. The cost minimization can include strategies in effective waste management, continuous product ...

Keystone markup

Accounting; Auditing

Gross margin that is 100 percent of the cost price or 50 percent of the sale price. Any item selling at twice the price for it was bought or produced is said to have a keystone markup.