- Branche: Accounting
- Number of terms: 7464
- Number of blossaries: 0
- Company Profile:
(tests of the operating effectiveness of internal controls) Auditors evaluate the design of controls, then determine if the controls are in operation. In order to rely on the controls they must also obtain evidence as to whether the controls are operating effectively.
Industry:Accounting
An analysis of the change in something over time. Analytical procedures, which compare financial statement ratios of different years, are an example of trend analysis.
Industry:Accounting
An audit opinion that the financial statements are in conformity with U.S. GAAP.
Industry:Accounting
An assertion made by management that each asset and liability is recorded at an appropriate carrying value.
Industry:Accounting
To achieve comparability of information over time, the same accounting methods must be followed. If accounting methods are changed from period to period, the effects must be disclosed.
Industry:Accounting
performed by CPAs include consultations, advisory services, implementation services, product services, transaction services, and staff and support services.
Industry:Accounting
Users evaluate accounting information by comparison. Similar companies account for similar transactions in similar ways. Another goal is comparison of one company's information from one period to the next (consistency). Operating trends should not be disguised by changing accounting methods.
Industry:Accounting
