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

general journal

Accounting; Auditing

A book of original entry in a double-entry system. The journal lists transactions and indicates accounts to which they are posted. The general journal includes all transactions not included in ...

A record to which monetary transactions are posted (in the form of debits and credits) from a journal. It is the final record from which financial statements are prepared. General ledger accounts are ...

general standard

Accounting; Auditing

In the ten U.S. generally accepted auditing standards there are three general standards: 1. The examination is to be performed by a person or persons having adequate technical training and ...

generalized audit software

Accounting; Auditing

Packaged computer programs used on a variety of computers during audit field work to read computer files, select information, perform calculations, create data files, and print reports in a format ...

going concern assumption

Accounting; Auditing

Assuming the company will continue in operation long enough to realize its investment in assets through operations (as opposed to sale). Presenting assets at historical cost is justified by assuming ...