What is Meant by the Term “Cost Pool”
Accounting – The Importance of a Petty Cash Book Do you know that there are set standards that regulate…
What are Provision and Accrual in Accounting
Both provision and accrual are essential in financial reporting, and they help …
Audit Objectives of Different Types of Audit
An audit is a systematic assessment of the books of accounts as well as…
Why Do the Accountants Close the Books
When you hear the phrase “close the books”, the first thing that…
When Will Business Owners Issue Debit Notes
Have you ever bumped into a situation where the goods…
What is the Use of Credit Notes
Credit notes are one of the common documents that business…
Who Needs the Financial Statements?
Financial statements are the documents that the company will prepare to show its financial affairs…
What is in a Profit and Loss Statement?
If you are running a business, you must have used or heard of various financial statements…
How Do Provisions and Accrued Expenses Differ from Each Other
To the untrained eyes, provisions and accrued expenses are the same as…
Audit - How Do Auditors Plan for an Audit
The highest level of assurance that a Certified Public Accountant firm…
The Benefits of Engaging a Non-statutory Audit
Non-statutory audits refer to the audits which are not required by law…
Techniques and Procedures of Internal Audits
There are some significant differences between external audits and internal audits…

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