- Settore: Accounting
- Number of terms: 7464
- Number of blossaries: 0
- Company Profile:
Assertions about completeness deal with whether all transactions and accounts that should be in the financial statements are included. For example, management asserts that all purchases of goods and services are included in the financial statements. Similarly, management asserts that notes payable in the balance sheet include all such obligations of the entity.
Industry:Accounting
In an attest engagement, a practitioner issues a written conclusion about the reliability of a written assertion that is the responsibility of another party.
Industry:Accounting
Determined. The level of control risk determined by the auditor, based on tests of controls, is the assessed level of control risk.
Industry:Accounting
These include journals, ledgers and other records, such as spreadsheets, that support financial statements. It may be in computer readable form or on paper.
Industry:Accounting
An audit opinion that the financial statements as a whole are not in conformity with U.S. GAAP.
Industry:Accounting
Management asserts financial statements are correct with regard to existence or occurrence of assets, liabilities or transactions, completeness of information in the financial statements, rights and obligations at a point in time, appropriate valuation or allocation, presentation, and disclosure.
Industry:Accounting
Recorded as an asset. A capitalized lease is in substance a purchase to the lessee. An asset is recorded equal to the present value of the lease payments, which is also recorded as a liability. Payments, partly interest and partly principal, are made on the lease liability. The lease asset is depreciated by the lessee as though it were legally owned by the lessee.
Industry:Accounting
Internal controls performed by computer (software controls) as opposed to manual controls. Also means general and application controls over the computer processing of data.
Industry:Accounting
An audit procedure. The auditor observes similarities and differences among similar items such as an account from one year to the next.
Industry:Accounting
A document issued by a carrier to a shipper, listing and acknowledging receipt of goods for transport and specifying terms of delivery.
Industry:Accounting
