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

Kill

Accounting; Auditing

To destroy an investment transaction before it has been recorded in the system.

Leasing

Accounting; Auditing

The use of a lease or of equipment under a lease.

Ledger

Accounting; Auditing

Collection of an entire group of similar accounts in double-entry bookkeeping. Also called book of final entry, a ledger records classified and summarised financial information from journals (the ...

Gift of personal property through a will by the writer of the will (the 'testator') to an individual or organisation (the 'legatee'). Legacies are generally classified as (1) Demonstrative: paid out ...

Leasehold improvements

Accounting; Auditing

Improvements performed on a leased property, such as additions, alterations, remodeling, or renovations. For accounting purposes, all leasehold improvements are capitalised (recorded as an asset ...

Ledger account

Accounting; Auditing

A separate page in a ledger that records increases and decreases in each balance sheet item, classified under assets, liabilities, or owners' equity. Also called an account.

Leasehold

Accounting; Auditing

Property held under a lease for a stated period and under specified terms and conditions. In contrast, a freehold property is held for an indefinite period under absolute rights of ownership.