Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...

The income statement is one of the core financial statements for any business. Every daily operation that impacts cash flow has a direct impact on the income statement. If you understand what ...

A business may have system-generated and manually entered journal entries for accounting. Some entries, such as accounts payable or payrolls, are automatically recorded in the computer system when a ...

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. Processing Content The publication, Audit Focus: Journal ...

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more.