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What else can I help you with?
Why a business need creditors?
Why a business have creditors
How can we calculate creditors payment period?
Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2) Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2)
What is the effect of liquidation on creditors?
When a company liquidates, creditors generally receive less money than they owe. Creditors will have to write off the balance, so that their books can balance.
What do firms owe their creditors?
Firms will owe their creditors a debt and usually some type of interest.
Does a click-through rate (CTR) trigger an audit?
No, a click-through rate (CTR) does not trigger an audit.
Differences between audit plan and audit program?
difference between audit program audit & note book
Difference between audit plan and audit program?
an audit program may contain several audit plans
What is the Audit Work Program?
The Audit Work Program is used to inform both the government and the public about audits. In Australia, for example, they have the Australian National Audit Office.
What are the contents of Audit Program?
contents of audit program are as, 1. a review of system of internal check. 2. audit of balance sheet. 3. audit of p&l a/c. 4. the details of various audit works to be performed and their classification. 5. preparation of audit report and co-ordination of all above mentioned items.
Stakeholders that would be interested in an audit report?
Shareholders of the company, the directors of the company, the accountant of the company and future investors or creditors
How do you write-design an audit test that will form part of an audit program for a certain control for stolen material?
with a pencil?
What are two differences between an internal audit and an external audit?
1) An internal audit is an appraisal of activities within company areas, whereas an external audit looks at the financial statements as a whole 2) An internal report is normally given to managers, while an external report is prepared for shareholders, related companies, creditors, or government agencies.
What is a core certification program?
A company has a third party audit, by NBCSA this shows proof of a loss control program is in place.
Why is it important for a public company that an external audit is performed on an annual basis?
So that the public company's investors, creditors, interested regulatory entities and potential investors, creditors and regulatory entities have independent unbiased confirmation of the finances of the company on a regular basis.
What do you mean by audit program?
An audit program is a detailed plan that outlines the specific procedures and steps auditors will follow to assess an organization's financial statements, compliance, or operational effectiveness. It includes objectives, scope, methodologies, and timelines, ensuring that the audit is systematic and thorough. The program serves as a roadmap for auditors to gather evidence, evaluate risks, and formulate conclusions about the entity being audited.
What has the author Bureau of Financial Audit written?
Bureau of Financial Audit has written: 'An Analysis of Fund Balaces in the New York City Head Start Program'
What is a baseline audit in health and safety?
A baseline audit in health and safety is an audit of all or part of a health and safety program, the results of which will be used as a point of comparison (a baseline) when a future audit is performed. With a baseline audit in the record, it is possible after future audits to tell whether there have been improvements or declines in health and safety performance.
