Accounts receivable are a crucial component of a successful business. It’s essential to keep a close watch over the accounts that your customers owe to you and audit them regularly […]
How to Audit Accounts Receivable? Read More »
In business, cannibalization is when one product or service takes sales away from another product or service within the same company. While it may seem counterintuitive, cannibalization can be good
How to Calculate Cannibalization? Read More »
The periodicity assumption is an accounting principle that states that a company’s economic activities can be divided into distinct periods. It is one of the basic assumptions upon which financial
An Overview of the Periodicity Assumption in Accounting Read More »
As technology continues to play a larger role in our everyday lives, it’s no surprise that businesses are turning to computer-assisted audit techniques (CAATs) to help them properly audit their
What do You need to Know About Computer-Assisted Audit Techniques (CAATs)? Read More »
According to the Institute of Internal Auditors (IIA), performance materiality is “the amount or magnitude of an item or misstatement that could influence the decisions of users relying on the
Understanding the Basics of Performance Materiality in Audit Read More »
In accounting, there is a difference between purchase returns and allowances. Returns are when the buyer sends back goods they bought from the seller, while allowances are reductions in the
What is the difference between purchase returns and allowances? Read More »
Short answer: no. You cannot get any interest financing from Walmart. If you’re looking for a store that offers this type of financing, you might want to check out Best
Does Walmart Have No Interest Financing? (5 Best Alternatives Include) Read More »
Blog Introduction: A walkthrough test is an audit procedure used to understand a company’s internal control structure and operations. It tests the effectiveness of the internal controls in place and
What is a Walkthrough Test in an Audit? Read More »
A reader recently asked us whether Google storing financing information affects credit scores. To get to the bottom of this, we reached out to a credit expert for advice. Here’s
Does google store financing affect credit scores? Read More »
In order to calculate the variable overhead rate variance, you will need to determine the total variable overhead for the period and then compare that amount to the budgeted variable
How To Calculate Variable Overhead Rate Variance? Read More »