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The plan of organization and all the related methods and measures adopted within a business to safeguard its assets and enhance the accuracy and reliability of its accounting records?
Wiki User
∙ 12y ago
Internal Control
Wiki User
∙ 12y ago
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What procedures can be followed to ensure the reliability validity currency and accuracy of data information used by an organisation?
Double checking and verification are some of the procedures that can be followed by an organization to ensure reliability,validity and accuracy of the data information.
What is the importance of computers in accounting?
Efficiency, accuracy, and consistency.
Who examines a business's financial records to ensure accuracy and reliability?
It is the prime responsibilty of the interal auditors to ensure the accuracy and reliability of financial records while external auditors make sure that financial statments depicts true and fair activities of business.
Definition of accounting accuracy?
Accounting accuracy is partially a myth. Accuracy can just mean precise down to the penny with no particular reference to anything. If the accounting number says you have $1M bucks but you have none then it is inaccurate. For something like the VALUE of inventory it is very difficult to say what the correct value is. Even it you say it is the market value -- which market? on what day? Accounting accuracy is a term used to make seemingly precise numbers seem more important than they really are. Accuracy can mean a good predictor for some future event. However, most accountants do NOT take responsibility for predicting the future ... so it is primarily a by word to make the accounting numbers seem important.
Duties and responsibilities of accounting department?
The accounting department is responsible for analyzing and tracking numbers. Their accuracy is a significant factor to whether the business will succeed or not.
What procedures can be followed to ensure the reliability validity currency and accuracy of data information used by an organisation?
Double checking and verification are some of the procedures that can be followed by an organization to ensure reliability,validity and accuracy of the data information.
It has to do with the accuracy and precision of a measurement procedure?
Reliability!
The closeness of a measurement to its true value is a measure of its .?
accuracy; reliability.
Strenth of computer?
speed,accuracy, consistency, reliability, communication, memory capability speed,accuracy, consistency, reliability, communication, memory capability
What is reliability of data sources?
The reliability of data source is the accuracy of and completenessof computer processed data, given the uses they are intened for
Why calibration is required?
Calibration is required to maintain the accuracy and reliability of instruments.
What is the importance of computers in accounting?
Efficiency, accuracy, and consistency.
How do you decide a reading with a 0.5 accuracy?
A reading with a 0.5 accuracy is not precise. There is only fifty percent chance from deciding on its reliability.
What are some possible values in science?
reliability,testability,accuracy,precision,generality
How has technology had an effect on accounting?
Accuracy EfficiencyAccountabilitySolid Transaction audits
Why are copying procedures so important?
To ensure the accuracy and reliability of the copied material(s)
Who examines a business's financial records to ensure accuracy and reliability?
It is the prime responsibilty of the interal auditors to ensure the accuracy and reliability of financial records while external auditors make sure that financial statments depicts true and fair activities of business.
