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

Job order cost sheet

Accounting; Auditing

The document that represents the costs it requires to perform a particular job.

Job order system

Accounting; Auditing

The method of allocating costs to each job listed for production.

Lending policy

Accounting; Auditing

Lending institution's statement of its philosophy, standards, and guidelines that its employees must observe in granting or refusing a loan request. These policies determine which sector of the ...

Lessor

Accounting; Auditing

Owner or the title holder of the leased asset or property. The lessor is also the lender and secured party in case of capital leases and operating leases. In case of leveraged leases, however, a ...

Lender

Accounting; Auditing

Entity that advances cash to a borrower for a stated period and for a fixed or variable rate of interest, with or without a security other than the borrower's signatures. See also secured lender.

Lessee

Accounting; Auditing

User or renter of the leased asset or property. In case of capital leases, the lessee is also the 'debtor' to the lessor. When real estate is leased, the lessee is called a tenant.