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Long-Term Liabilities
Long-term liabilities are generally evidenced through an agreement called a debenture. For this purpose, long-term loans are often called debentures. They may be secured through a fixed charge over a particular asset or secured through a floating charge on all the assets or they may be unsecured whether case they are called naked debentures. Protected liabilities are occasionally referred to as mortgage debentures.
Existence - Audit Process In the case of tangible assets existence is confirmed through the auditor visually, considering the asset examining and concerned its condition. Thi
Examples of Liabilities Examples of those liabilities are: a) Claims by employees for injury at work such should be covered through workman's compensation; b) Claims thr
What techniques used during an audit? Ans) ? Be professional at all times. Avoid being judgmental. ? Follow safety procedures, clean room procedures, and all other needed pr
Trademarks and Patent Trademarks and then written off over their useful lives and patents may be capitalized along with any renewal fees being charged to revenue. Whether a tr
What document usually forms the basis of the audit team briefing?
auditor is a watch dog not a blood hound
Summary of IAS 2 Inventories are measured at the lower of cost and net realizable value. Entire realizable price is the calculated selling price in the regular course of busin
online exam in Auditing class. the exam will be about 2 hr. Thank you
The modern integrated audit approach combines elements of various traditional audit areas having financial, operational, and information technology.
Firm valuation refers to the total value of a firm in the capital market. It is the stock price of a firm times its outstanding shares. Total value of a firm is also called market
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