Accounting, analysis and audit
The Difference Between Finance And Economics| Although they are often taught and presented as very separate disciplines, economics and finance are interrelated and inform and influence each other. Investors care about these studies because they also influence the markets to a great degree.
What is accounting | Accounting is the recording, classifying, summarizing and interpreting of financial events and transactions to provide management and other interested parties the information they need to make better decisions....
Financial accounting | Financial accounting differs from managerial accounting because the information and analyses are for people outside of the organization. This information ...
What is an audit | An audit is a process for testing the accuracy and completeness of information presented in an organization's financial statements. This testing process enables an independent certified public accountant...
Bookkeeping, accounting, and auditing clerks | Bookkeeping, accounting, and auditing clerks are an organization�s financial record keepers. They update and maintain one or more accounting records, including those...
Activity Based Risk Evaluation Model of Auditing - 1| ABREMA integrates the three descriptive concepts of the audit objective, information misstatements and audit stages, with the two theoretical concepts of cognitive decision making and audit risk. These basic concepts.....
Activity Based Risk Evaluation Model of Auditing - 2| Financial statements are simply a collection of assertions: For example, the expression "Inventory, at cost, $100,000" in a set of financial statements is in fact ....
Concept of audit risk | Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. There are two concepts of audit risk: the acceptable level of audit risk, which...
Components of audit risk | Audit risk [AR] may be initially decomposed into two components: � the risk of a material misstatement of a financial statement item in the unaudited financial statements [RMM] and � the risk that the misstatement will not be detected by the auditor (equal to one minus the probability of detection by the auditor...
Concept of audit stages | There are five sequential audit stages in an audit engagement that correspond to the five critical decisions made during the course of the audit. The stages (and corresponding critical decisions) are:...