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Involves the review and evaluation of the records that are used to prepare the organization's financial statements?
Wiki User
∙ 10y ago
auditing
Wiki User
∙ 10y ago
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What does evaluation involves making?
judgments
Discuss the provisions of as-17 on segment reporting?
AS 17, is a disclosure standard meaning that it involves only disclosure of a certain information in the financial statements by the way of additional information.
What does controlling functions of management involves?
By observing and studying financial statements, managers can understand the status of the business and adjust activities where necessary to contribute toward the achievement of the business goals
Should quarterly financial statement be audited?
In the US, there is no law requiring that quarterly financial statements be audited.Financial statement audits are extremely expensive and time-consuming, so there should be some compelling reason for a company to have its financial statements audited.For the typical US company, the expense of having its financial statements audited is probably not worth any benefit it might receive as a result of the audit, and for US nonpubliccompanies, audits are not required by law. An outsider such as a bank might want to see audited financial statements from a prospective borrower, but even then, audits are so expensive that this would be relatively rare. The company might need another loan just to pay for the audit!However, publicly owned companies (companies that sell shares of stock to the general public), howver, are required by law to have an annual audit of their financial statements by an independent CPA. This is to help protect the public.However, not even publicly owned companies are required to have their quarterly financial statements audited. Only their annual financial statements must be audited.Although public companies must submit quarterly financial report information to the SEC, the first three quarters' financial statements need only be "reviewed" by an independent CPA. A review involves limited testing procedures that are much less in-depth and time-consuming (and expensive) than audit procedures, and this permits the company to submit its financial information to the SEC on a timely basis. However, the fourth quarter report submitted by a public company must include audited financial statements for the entire year.
What is developent strategy?
A strategy is an organizations plan to achieve its mission - which is the purpose for the organizations existence. The development process involves three conceptual ways in which firms achieve their missions: * Differentiation * Cost Leadership * Response Effective strategies are also developed through proper evaluation of a S.W.O.T. analysis to gain competitive advantage
What does internal control evaluation entail?
Internal control evaluation involves everything management does to control the organization in the effort to achieve its objectives
What is strategy development process?
A strategy is an organizations plan to achieve its mission - which is the purpose for the organizations existence. The development process involves three conceptual ways in which firms achieve their missions: * Differentiation * Cost Leadership * Response Effective strategies are also developed through proper evaluation of a S.W.O.T. analysis to gain competitive advantage
Credentialing process involves objective evaluation and documentation of an individual's?
Compensation amount
The credentialing process involves an objective evaluation and documentation of an individual?
Competencene and profeniciency
Monitoring and performance evaluation?
Monitoring involves tracking system metrics and behaviors in real-time to identify issues, while performance evaluation assesses the effectiveness and efficiency of a system over a period. Both are essential for ensuring optimal system functionality, identifying bottlenecks, and making data-driven improvements. By combining monitoring data with performance evaluation results, organizations can enhance system reliability and user experience.
What is the credentialing process involves an objective evaluation and documentation of an individual's?
in regards to nims 700
What is credentialing process involves an objective evaluation and documentation for NIMS 700?
competence or proficiency
