1 Terms
Home > Industry/Domain > Accounting > 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
inverse
Accounting; Auditing
The opposite or reverse. An inverse relationship between two variables means that when one increases the other decreases.
investee
Accounting; Auditing
The company in which an investment is held. Often used to describe an equity method investment, in which the investor reports a share of the investee's net income.
journal
Accounting; Auditing
A book of original entry in a double-entry system. The journal lists all transactions and the accounts to which they are posted.
just-in-time
Accounting; Auditing
An inventory system that attempts to minimize inventory costs that do not add value for the customer. It arranges for suppliers to deliver small quantities of raw materials just before those units ...
kiting
Accounting; Auditing
Drawing a bank check on insufficient funds to take advantage of the time required for collection.
lapping
Accounting; Auditing
A scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.
