Shared Flashcard Set

Details

Accounting Chapters 10 & 12
Vocabulary & Terms
9
Accounting
Undergraduate 3
01/26/2010

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Cards

Term
Annual Report
Definition
Comprehensive Information Package at the end of the year
Term
Intrim Report
Definition
Condensed Financial Statement During The Year. Usuall Internal
Term
Public Corporation
Definition
On a stock exchange, therefore required to inform shareholders of financial results
Term
Independent CPA
Definition
In a Public Practice, and expected to preform all services
Term
Scope
Definition

The Size

(How Much Big)

Term
AICPA
Definition
American Institute of Certified Public Accountants
Term
GAAS
Definition
Generally Accepted Auditing Standards.  Audit must be preformed in accordance with these principles.
Term

Opinion

or

Auditor's Report

Definition
states the concludion of the auditor as the the fiarness of the financial statements
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