What is Auditing Importance Following is important list of auditing, which describes auditing importance in different aspects: Audit satisfies the owner regarding the operating of the business operations and also the functioning of its numerous departments. The audit helps within the detection and interference of errors...
Benefits of Auditing Auditing may provide different benefits to its companies in different perspective of view. Following are important benefits. Auditing Provide True and Fair View Auditing provides fair and true view of financial statements...
Definition of Audit The term ‘audit’ has been originating from the Latin word ‘audire’ which means ‘to hear?’ Earlier, in late nineties, a people had to listen to their accounts read over by an accountant to...
What is Revenue In this post, students will learn what is revenue and expenses in accounting. First Revenue has been explained in this post, and later Expense. So keep in touch with this post. Formal...
What is Liabilities in Accounting In this topic, students will learn what is liabilities in accounting, besides our students also explore about the revenue and expenses in accounting subject. Formal Definition of Liabilities Claims by...
What is Assets In this post you will come to know that what actually assets is, so keep reading this post carefully and do ask question on comment section below this post and also share this...
Terminology of Accounting and Bookkeeping Records Following are the terminology of accounting as well as bookkeeping: Chart of Accounts Journals It denote to book of original entry where primary business transactions are first entered into...
What is the Difference between Accrual and Cash Accounting Method The difference between accrual and cash accounting method used for recording revenues and expenses results from when the business transaction is recorded in the “books” (timing)....
Accounting Method Defined A decision face by a new business is what accounting/bookkeeping method is going to be used to track revenues and expenses. An accounting method is just a set of general rules, which are...
Definition of Accounting Accounting is the art of analyzing, recording, summarizing, reporting, reviewing, and interpreting financial information. In simple words, Accounting includes three basic activities, identify, record, and communicate the economic events of a firm/company. ...
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