Audit: Meaning in Finance and Accounting and 3 Main Types
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Audit: Meaning in Finance and Accounting and 3 Main Types
An audit is an unbiased examination of the financial statements of an individual or organization. Three main types are external audits, internal audits, and IRS audits.
8 months ago
Management Assertions Explained
Explain how management assertions, general balancerelated audit... | Filo
Explain how management assertions, general balancerelated audit... | Filo
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5.4K views9 months ago
The following are various management assertions (a through m ) related to sales and accounts receivable. Management Assertion a. All sales transactions have been recorded. b. Receivables are appropriately classified as to trade and other receivables in the financial statements and are clearly described. c. Accounts receivable are recorded at the correct amounts. d. Sales transactions have been recorded in the proper period. e. Sales transactions have been recorded in the appropriate accounts. f.
The following are various management assertions (a through m ) related to sales and accounts receivable. Management Assertion a. All sales transactions have been recorded. b. Receivables are appropriately classified as to trade and other receivables in the financial statements and are clearly described. c. Accounts receivable are recorded at the correct amounts. d. Sales transactions have been recorded in the proper period. e. Sales transactions have been recorded in the appropriate accounts. f.
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