Accounting

In terms of the completeness assertion, purchase orders and receiving reports are typically pre-numbered and accounted for. If a number has been recorded twice or there is a missing number from the list, it will be easy to figure out the problem. When an auditor completes a review of financial statements or performs a regulatory audit, they are offering assurance services. In this lesson, we’ll define assurance services and discuss why they are such an important part of what an auditor do […]

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examin […]

IBM however developed their MultiProcessor Interrupt Controller based on the OpenPIC register specifications. MPIC was used in PowerPC based designs, including those of IBM, for instance in some RS/6000 systems, but also by Apple, as late as their Power Mac G5s.
It is only when investors buy the shares from the company directly, usually through an IPO or capital raise. The first-generation Intel APIC chip, the 82489DX, which was meant to be used with Intel and early Pentium processors, is actua […]

You should be printing a set of financial statements monthly or quarterly, depending on your business. Using accounting software, running financial statements takes less than a minute, but the details in those reports can tell you a lot about your business. Make sure that payments received from your customers are adequately tracked, whether they pay […]

Using the indirect method can be confusing because you are converting the accrual net income to a cash basis net income. Thus, any increase in assets must be subtracted out, while a decrease in assets must be added back in. I know this sounds confusing, but you have to think about it in terms of cash.
Therefore, extending credit to a customer is an investing activity, but it only appears on the cash flow statement when the customer pays off their debt. The balance sheet is one of the three fund […]

The book in which these classified accounts are kept is known as ledger. A ledger account can be checked any time to see the additions and reductions of particular item to which the account relates. The cash account, for example, would reveal the inflows and out flows of cash during a particular period of time.
Whatever the origins, Luca Pacioli and Leonardo da Vinci published the first textbook on double-entry accounting in 1494. This text allowed others to study this accounting system and put […]