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

Labour year

Accounting; Auditing

This term means a non-sexist term for man year.

Accounting statement which tracks how much a person or business owes a creditor. The liability account tracks debts owed to banks, vendors, employees and any other creditor who had not yet been paid ...

Life cycle processing

Accounting; Auditing

Cost accounting approach under which the price of a manufactured good is computed on the basis of recovering the product's total cost over its life cycle. Since this practise results in a ...

Liability

Accounting; Auditing

1. Finance: A claim against the assets, or legal obligations of a person or organization, arising out of past or current transactions or actions. Liabilities require mandatory transfer of assets, or ...

Life cycle cost

Accounting; Auditing

Sum of all recurring and one-time (non-recurring) costs over the full life span or a specified period of a good, service, structure, or system. In includes purchase price, installation cost, ...

Lifetime cost

Accounting; Auditing

The total cost incurred of possessing certain goods over their lifetime, as an addition to the cost of buying the goods. The cost may include expenses such as maintenance, insurance, renovation, etc. ...