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Why Accountancy is necessary while auditing is a luxury comment?
Wiki User
∙ 11y ago
accountancy is necessity and it helps us to know the present position of a business.small firms is no need of auditing.on the other hand large firms have a necessity of auditing about it helps to know the real position of the business.there are some large business whose transaction are in large amount can bear the cost of auditing.above the discussion its true that auditing makes the waste of time for small business but auditing is essential to described the duties and responsibility of an auditor.
Wiki User
∙ 11y ago
Black video Status
A accountancy is necessity because it is invitable various auditing is a luxury because it is avoidable also accountancy is regarded as a necessity.
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Accountancy is necessary while auditing is a luxury comment?
I think what you're saying is that accounting is necessary to keep the company's books and records straight ... but auditing is a luxury as it is just validation of the accounting (as well as some other checks around fraud, internal controls, etc.)
How is Accountancy necessary but auditing is luxury?
It is necessary for company to maintain books of accounts and that's why accountancy is a must activity but it is not mandary to conduct audit of financial statement for private companies and only necessary for public companies.
Is accounting is a necessity while auditing is a luxury for a business enterprise?
accountancy is necessity. it may be treated as a necessity because of the following reason. it helps us to know if the firm is suffering from loss or profit, any small firm can get take the help of a person having knowledge of accountancy and does not have to pay large amount it helps us to know the real position of the business auditing as luxury whereas to get our accounts audited we have to pay good amount of money to auditor . only those firm whose transaction are in large amount can bear the cost of auditing it is also a waste of time for small business because it involves at alot of time more over employees efficiency are decreased because even for small things they are called and questioned about those things azmat(9852419025)
Which of these are considered a luxury because of their expense?
taxicab
What type of taxes are inheritance and excise taxes on luxury goods?
It is a progressive tax. Because the tax gets higher as you pay high price for the luxury goods.
Accountancy is necessary while auditing is a luxury comment?
I think what you're saying is that accounting is necessary to keep the company's books and records straight ... but auditing is a luxury as it is just validation of the accounting (as well as some other checks around fraud, internal controls, etc.)
How is Accountancy necessary but auditing is luxury?
It is necessary for company to maintain books of accounts and that's why accountancy is a must activity but it is not mandary to conduct audit of financial statement for private companies and only necessary for public companies.
Is accounting is a necessity while auditing is a luxury for a business enterprise?
accountancy is necessity. it may be treated as a necessity because of the following reason. it helps us to know if the firm is suffering from loss or profit, any small firm can get take the help of a person having knowledge of accountancy and does not have to pay large amount it helps us to know the real position of the business auditing as luxury whereas to get our accounts audited we have to pay good amount of money to auditor . only those firm whose transaction are in large amount can bear the cost of auditing it is also a waste of time for small business because it involves at alot of time more over employees efficiency are decreased because even for small things they are called and questioned about those things azmat(9852419025)
Is a headset necessary in a luxury helicopter?
Yes, it's necessary for communication. Even in luxury helicopters it can be quite noisy at times
What requirements are necessary for a luxury car rental?
You will need to be 23, and have a valid driver's license.
How Luxury goods are price elastic?
Luxury products are elastic, in comparison to necessity products which are inelastic. Luxury goods are elastic because for a change in price there is a more than proportionate change in quantity. e.g. If the price of a luxury good increases, less people will purchase the good because it is not necessary in their lives - they can do without it.
What is the difference between an economic luxury and an economic necessity?
An elecomic luxury is wasting land on pools huge garden,etc.And an economic necessity is when you need a certain amount of space (houses)to make something totally necessary (to live in)
Is art a luxury?
Art is not a luxury.
How do you define luxury?
luxury service
What is the verb version for the noun luxury?
The verb form of the noun "luxury" would be "luxuriate," which means to enjoy oneself in luxury or indulge in luxury.
What is a luxury desserts?
its a desert thats luxury
What is a luxury house?
A Luxury house is a Castle.
