Technical terms
The high, but not absolute, level of assurance that is intended to be obtained by the auditor is expressed in the auditor's report as obtaining reasonab...
Using two sets of records to ensure figures are accurate and in agreement.
If you make payments and receipts on a regular basis, without recording an invoice, for example, you pay a direct debit for electricity each month, you can ...
Automatic payment where a customer authorises a company to collect the total charges from a credit card, debit card or bank account every month.
A method used when the depreciation of an asset is higher in the earlier years of its life, and when that depreciation amount begins to reduce as the life of...
A set of statistical processes for estimating the relationships among variables.
Where the tax rate decreases as the amount subject to taxation increases. It affects people with low incomes more severely than people with high incomes. Ex...
The infrastructure which supports the control and implementation of principles and laws.
An amount that is expensed immediately - thereby being matched with revenues of the current accounting period/