5 Terms
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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
Reconciliation
Accounting; Auditing
Item by item examination of two related sets of figures obtained from different sources. Most commonly, this term is applied to bank reconciliation.
Recognise
Accounting; Auditing
(1) To allocate or associate income or expenses to balance sheet accounts, or (2) the point when a transaction becomes part of the business.
Activist policy
Accounting; Auditing
Monetary and fiscal policies of a government which believes in active participation in the national economy to effect its economic agenda and objectives.
Acquisition accounting
Accounting; Auditing
Procedure adopted in preparation of the consolidated financial statement of an acquiring and the acquired firm. The purchase price of the acquired firm is allocated between its net tangible and ...
Active inventory
Accounting; Auditing
Raw material, work in process, or finished goods inventory that will be consumed and/or sold within an accounting period (usually one year).
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