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- Debtors' circularization represents an external source of evidence provided in support of the assertion of existence and to lesser extent, valuation and completeness with respect to debtors. It's a verification procedure where by trade debtors are contacted directly by the auditors to confirm their balances. It has become so extensive that auditors have now developed a standard format for the purpose. The fundamental reason for the usage of theses circularization is that its reliable audit evidence coming from an independent source and it's in documentary form.
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What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
What are the differences between trade debtors and sundry debtors?
sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok
What is the difference between debtors and sundry debtors?
why debtors and creditors are called as sundry? Debtors = In general business terminology means Customers to whom the goods are sold on credit. Sundry = Various Therefore Sundry Debtors means Debtors for various reasons and not merely for Credit Sales.
What is debtors method?
It is related to "control" the accounts of debtors for some purposes.
Format for Debtors control account and creditors control account?
debtors
What is concept of circularization in auditing?
circularization of debtorsAccountingauditors' approach to debtors to identify assetsthe sending of letters by a company's auditors to debtors in order to verify the existence and extent of the company's assets
What is creditors circularization?
creditors' circulization
What is bank circularization?
What is Bank Circular is action
What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
What happened to debtors in England?
Debtors in England were sent to debtors prison.
What often happened to debtors in England?
Debtors in England were sent to debtors prison.
What are the advantages of debtors?
what are the advantages of debtors?
What are the differences between trade debtors and sundry debtors?
sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok
Did England have prisons for debtors?
Yes, England did have debtors' prisons in the past. Debtors who were unable to repay their debts could be imprisoned until their debts were settled or a repayment plan was agreed upon. The practice of imprisoning debtors was abolished in England in the mid-19th century.
What are the classification of debtors?
what are the classifications of debtors? what is the meaning of debtor exceeding 6 months & debtors for the year? how to calculate this?
What is the difference between debtors and sundry debtors?
why debtors and creditors are called as sundry? Debtors = In general business terminology means Customers to whom the goods are sold on credit. Sundry = Various Therefore Sundry Debtors means Debtors for various reasons and not merely for Credit Sales.
Why do you age your debtors?
Debtors are aged to find out that who has not paid for longer time and which debtors need more focus efforts to realize money and which debtors are still in credit policy limit.
