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auditing
generally accepted auditing principles
17
Accounting
Undergraduate 4
12/07/2015

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Cards

Term
General standards
Definition
due professional care
independence
adequate training
Term
standards of field work
Definition
obtain sufficient/appropriate evidence
sufficient understanding internal controls
planning and supervised assistance
Term
Standards of reporting
Definition
Gaap
consistency
disclosures
opinion
Term
Occurrence
Definition
events that have been recorded have occurred
Term
Completeness (transaction)
Definition
events that should have been recorded are
Term
authorization
Definition
properly authorized
Term
accuracy
Definition
amounts and relating data are recorded appropriately
Term
cutoff
Definition
with in correct accounting period
Term
classification
Definition
recorded in proper accounts
Term
existence
Definition
assets, liabilities, equity interest exist
Term
rights and obligations
Definition
entity holds/controls rights to assets, liabilities are obligations
Term
completeness (balances)
Definition
all interests that should have been recorded have been
Term
valuation/allocation
Definition
stated at appropriate amounts
Term
occurance/rights/obligations
Definition
disclosed events/transactions occurred pertain to the entity
Term
completeness (presentation)
Definition
all disclosures that should be included have been
Term
classification/understandably
Definition
information presented/described/disclosed is clearly expressed
Term
accuracy/valuation
Definition
disclosed fairly and at appropriate amounts
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