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What is the Difference Between Financial and Operational Auditing?
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∙ 11y ago
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∙ 11y ago
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Difference between bookkeeper and accountant?
A bookkeeper is one that can organize all your financial papers and legalities but cannot sign the auditing report because this is the qualification of a licensed accountant. An accountant exactly audits and signs the evaluation
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Says, Bisworanjan Nayak. Lets start with the objective The objective of financial accounting is to prepare accounts, trial balance, financial statements etc The objective of auditing is to express an opinion thereon Auditing starts where accounting ends Auditing is the big brother of accounting Accounting involves more numbers Auditing involves checking these numbers However, more math is involved in accounting Accounting is concerned with details like transactions, account balances etc Auditing gives usually cursory view on accounts Accounting is a routine function Auditing gives an opinion on this function Accounts requires less specialized skills Auditing requires more specilised skills Accounting is usually less remunerative to an individual Auding is usually more remunerative to an individual I think this should help you to understand the job role of an accountant vis-a-vis auditor. In conclusion, Auditing is more interesting, challenging, dynamic, remunerative than accounting in general.
Difference between strategic financial management and financial management?
What is the similarity between financial managment and strategic financial managment
Difference between auditing and accounting?
Accounting is the process of recording, classifying and summarizing of the business events for the purpose of providing financial information to investors for decision making. Auditing is determining whether recorded information properly to the business events that occurred during the accounting period. Its main duties are observe, valuate and recommend the financial statement and the firm.
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operational audit means auditing how the operations of a work are going right or not but performance audit means auditing how the performance of a particular work is going right or not
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An error represents an unintentional misstatement of the financial statement. it may be material or immaterial. fraud represents an intentional misstatement of the financial statement which can be material or immaterial.
The difference between accounting policies and accounting bases?
The difference between accounting and auditing?"
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What is the difference between operational command and operational control?
Operational command = you can tell them what to do. Operational control = you can make them do it
What is the difference between financial budget and a financial budget?
There is no difference between them.. Their difference only is how you understood about financial budget.. :)
What is the difference between middle managers and operational managers?
the difference is like this think of middle as your the middle child and operational as the oldest thats basically how it goes and the operational is bigger
What is the main difference between Public Sector Auditing and Private Sector Auditing?
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What are similarities between accounting and auditing?
The similarities between auditing and accounting is that both are concerned with keeping records of a business. The other similarity is that both ensure that the correct financial statement of a business are prepared.
What is a difference between technical proposal and financial proposal?
what is the difference between technical and financial proposal
What is the difference between a financial manager and a financial analyst?
Are there any difference between financial Management analyst and financial analyst? Series or job PD.
