What is Test Checking In Audit? A Comprehensive Overview Test checking in an audit is the process of selecting a sample of transactions or records for examination instead of reviewing all of the transactions. It involves using statistical methods to…
Difference between assessment and audit? A Comprehensive Overview Assessment and audit are both different types of processes. But often people are confused between these two processes and use them interchangeably. Because they address different concerns and provide various types of…
How to read audit report How do you explain an audit report? An audit report is a document that an auditor prepares after they have completed an audit. The audit report provides clear and summarized information based on collected data…
Techniques of Auditing Techniques of Auditing Description Audits are conducted to determine whether the information in an organization’s financial statements is accurate and fair. To achieve that goal, the auditor adopts different methods or processes. All these methods are called…
9 Limitations of cash flow statement What is Cash Flow Statement A cash flow statement is an accounting statement that summarizes a company’s cash inflows and outflows over a specified period of time. It helps investors and analysts understand a…
What is vertical filing | Advantages and Disadvantages Vertical filing is a way of organizing documents in an office or other workspace. It involves arranging documents in upright file folders in a series of drawers or cabinets. The drawers are…
What is Payroll or Wages sheet | Definition | Preparation in 2023 What is a Payroll or Wages Sheet? A wage sheet is a document that lists an employee’s wages, hours worked, and deductions for a specific pay period. It…
Delivery of goods| Rules | Modes of delivery What is Delivery of Goods Delivery of goods is the voluntary transfer of possession between parties under the Sale of Goods Act. In order for a delivery to be deemed valid, the…
Horizontal filing in office | Advantages and disadvantages What is Horizontal filing? Horizontal filing is a type of office filing that uses a horizontal filing system. During this filing, documents are stacked horizontally, one on top of the other based…
Classification Of Audit, 28 different types of audit Auditing has evolved as a rapidly evolving field of study. Depending on the structure of the audit, there are two types: statutory and non-statutory. Legally constituted organizations, such as companies and cooperative…
Store Keeping, Definition, Objectives and Functions Definition Of Store Keeping In the process of material control after purchasing and receiving material, the next step is to store materials and supplies in proper places until they are needed which is also…
Centralized Store and Decentralized Store Advantages And Disadvantages What is a centralized store? In a centralized store, materials are received and distributed to a company’s departments, divisions, sub-stores, and production floors. This store works as a central point for…