Учетиаудит |Accounting and Auditing
Final Certification |Итоговая Аттестация
Complete the sentences with the suggested words:
as to be does included made material need owed payment should
1. Accounting is the recording, classifying, summarizing and interpreting of financial events and transactions to provide management and other interested parties the information they
to make better decisions.
2. Bookkeeping involves the recording of business transactions. It is a rather mechanical process and
not demand the financial training and insights of accounting.
3. The auditor will request information from individuals and institutions to confirm bank balances, contribution amounts, conditions and restrictions, contractual obligations, and monies
to and by your organization.
4. Bookkeepers also prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending cash, checks, or other forms of
to the bank.
5. The principal objective noted above may be expanded by including a reference
how the objective is achieved.
6. Auditors perform an audit so as to add credibility to management's inherent assertions
in the financial statements.
7. In very broad terms, audit risk is the risk of a material misstatement of a financial statement item that is or
be included in the audited financial statements of an entity.
8. Before evaluating audit risk or its components, auditors first determine what they consider to be a
misstatement.
9. There are five audit stages in an audit engagement that correspond to the five critical decisions
by auditors during the course of an audit engagement.
10. Strategic planning is long term planning and refers to the auditor's determination, in the client acceptance/retention stage, of the criteria by which prospective audit clients will
accepted and existing clients will be retained.
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