Duties and responsibilities of an external auditor
Duties and responsibilities of an external auditor External auditors must be independent of the company to ensure an effective application of auditing techniques. They are … Read more
External audit certifications
External audit certifications are considered to be fairly difficult. However, a promising Career can be expected once you have qualifications and reasonable experience. Here is … Read more
The role of Compensation and benefits in Employees Motivation
What is Compensation and Benefits? Compensation, sometimes referred to as remuneration, is a frequently used term in HR to refer the monetary rewards given to … Read more
External audit (objectives and reporting)
Definition of External Audit The company’s auditors perform an external audit to assess the accuracy and completion of financial statement. It’s defined as the audit … Read more
Why Financial Independence Is Important
Freedom comes with financial Independence. You must declare your financial Independence. In a nutshell, it would mean earning enough money to live a comfortable lifestyle … Read more
Top five external audit companies in the world
Here is the list of the top five external audit companies globally. 1. Deloitte Touche Tohmatsu Limited Deloitte is one of the big four audit … Read more
Source documents (detailed understanding)
Original documents containing details about a business transaction are referred to as source documents. The source document contains vital information such as the date and … Read more
What is an external audit?
An external audit is a process of reviewing the financial record of the business. It’s a regulatory requirement and is conducted by a professional accountant. … Read more
What are fictitious liabilities (Detailed explanation)
Definition Fictitious liabilities are the ones that are not real or true and are just imaginary or fabricated figures that appear in accounting records. The … Read more
Scrap inventory accounting
Scrap inventory accounting can be done by following three methods. Recording as income Deduction from the cost of production Deduction from the cost of the … Read more
What are Drawings in Accounting?
Definition Drawings in accounting refer to the withdrawal from a business by its owner in the form of cash or any other asset aimed to … Read more
Monetary Unit Principle
The monetary unit principle states that all the transactions and business events should be recorded in currency form. It means that a business can record … Read more
What is a special audit?
A special audit is a type of audit that is conducted to look at a specific set of activities within an organization. It can be … Read more
Why Is Cash Flow Forecast Important For Business?
Overview A cash flow forecast helps to understand the business’s cash position in the coming accounting period. It acts as an intelligent tool to predict … Read more
Accretion Expense (all you need to know)
Accretion Expense A company has to pay an accretion expense for the fixed assets acquired under Asset Retirement Obligation (ARO) when the asset’s useful life … Read more
Steps to perform an external audit
The purpose of performing an external audit is to assure a set of financial statements. Following steps are performed by auditors for the performance of … Read more
Bank signature card – details and importance
Bank signature card plays important role identification and authorization of banking activities. Frauds and gambles, crimes, and criminals are quite common in every industry since … Read more
Capital Leases (Definition, Explanation, And Example)
Definition A capital lease can also be referred to as a finance lease. It’s is an agreement in which the lessor agrees to transfer the … Read more
Qualities of Good HR Manager
If you are opting for a career in the growing field of HR, then conquering the following skills would get you to speed up your … Read more
What Is Pari-Passu?
The term Pari-Passu is a Latin word that means “on an equal footing”. The Pari-passu charge gives an equal right to its lenders over the … Read more