What Is Another Word for Statement in Accounting or Bookkeeping

Something that can be sold or transferred to another party for money or as settlement of an obligation. Owner of a property whose temporary use is transferred to another (TENANT) under a RENTAL AGREEMENT. A system for determining the INVENTORY STOCK by a physical count carried out at the end of a billing period. Presentation of financial information, including balance sheets, income statements and STATEMENTS OF CASH FLOWS, or a supporting statement designed to communicate an entity`s financial position at a particular point in time and its results of operations for a period ended on that date. A formal document notifying an independent public accountant: (1) expression of limited assurance in the FINANCIAL STATEMENTS as a result of investigation and analysis procedures (REVIEW REPORT); (2) Results of procedures (REPORT ON AGREED PROCEDURES); (3) failure to express an audit opinion or any assurance as to a presentation in the form of information on the financial statements that constitutes the representation of management (PREPARATION REPORT); or (4) a statement of a management statement in accordance with the Statements on Standards for Assurance Engagements (ATTESTATION REPORT). An accountant`s report is not the result of an AUDIT. A breakdown of recent transactions and the resulting balancing process used to assess the compliance of an audit firm`s practice with professional standards. This is achieved through independent peer review. A control deficiency or combination of control deficiencies that impairs the Company`s ability to initiate, authorize, record, process or reliably present external financial information in accordance with GAAP, such that it is more likely that misstatements in the Company`s financial statements or interim financial statements that are beyond insignificant will not be avoided or discovered. Accounting in accounts using double-entry accounting to make an adjustment to the accounts, such as when a correction needs to be made. The journal describes which account will be debited and which account will be credited, the date, the reason for the journal and a reference. An actual count of all GOODS present at the end of an invoicing period.

Explicit or implied statements by the management of an entity contained in the financial statements for which the AUDITOR obtains and evaluates audit evidence when forming an opinion on the entity`s financial statements. An accounting system in which all financial transactions need to be recorded only once. This is usually in a ledger system and does not use journals and ledgers for the balancing process. The provision of various accounting or data processing services by an accountant, the preparation of which takes the form of financial statements intended to be used solely for internal administrative purposes. In traditional accounting, accounts payable are generally referred to as accounts payable. A person who sorts financial data and enters it into an accounting system. People often swap accountants and accountants to mean the same thing. Also refers to the person who performs financial statements and tax calculations.

Moving or causing to be moved from one place, person or thing to another. Individuals who do not report their deductions are entitled to a standard deduction amount to reduce ADJUSTED GROSS INCOME when determining taxable income. The amount of the standard deduction varies depending on the type of taxpayer and changes each year. For a list of standard deductions, see the instructions for Federal Form 1040. Each state can also use a standard deduction format, but the amounts and calculations differ from state to state. Some taxpayers may not be eligible for the standard deduction. An example of this would be a married separate taxpayer. If one taxpayer registers, the other is legally required to do so, even if the married separated taxpayer does not know what is included in the spouses` separate return. One reason could be the prevention of pooling and double deductions. There you go. You don`t need to get a degree in accounting or learn all the accounting terms in the book. Meet us at NEAT as we introduce new features to dramatically improve the accounting process for small businesses.

(1) Proceedings conducted by underwriters in connection with the issuance of a registration statement issued by the SECURITIES EXCHANGE COMMISSION (SEC). These procedures include questions about the company and its activities, products, competitive position, recent financial and other developments and prospects. Also carried out by third parties in connection with acquisitions and other transactions. (2) A requirement in codes of ethics that a person subject to the rules of ethics exercise professional diligence in the performance of his or her activities. The date of publication of the company`s financial statements. Financial statements can be prepared for a bank or credit company at any time during the fiscal year, but since the fiscal year is not yet over, they are called interim reports because they are based on a shorter period than the full year. Banks or loan companies usually need it to see how the business is doing before approving a business loan – they want to be sure that the company has the funds to repay a loan. As a general rule, interim reports are sufficient for this purpose. Spending rate or turnover of money – in other words, how often a dollar is spent in a given period. The risk that the AUDITOR unknowingly modifies his opinion on materially erroneous financial statements.

Any natural or other taxable entity required to file a return, return, or other document with the IRS must provide their tax identification number. For one person, the Social Security number is used, and if you don`t have a Social Security number, the IRS will assign you a TIN. Other types of entities are assigned a federal or employer identification number and used as a TIN. amendment (1) of an accounting policy; (2) an accounting estimate; or (3) the reporting entity requiring INFORMATION and explanations in the published financial statements. A document given to a vendor or received by a customer that lists the invoices included in a payment made. A service that CPAs often offer to lawyers, such as expert testimony on the value of a business or other asset, forensic accounting (a partner stealing from his other partners or a spouse underestimating his income in a matrimonial lawsuit). The lawyer asks the CPA to conduct the investigation and determine the amount of money stolen or underestimated. A formal record that, in verbal terms, represents money or any other unit of measurement, specific resources, claims about those resources, transactions, or other events that result in changes in those resources and claims.