How to Audit Accounts Receivable?
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 …
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 …
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 …
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 …
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 »