Uncollectible accounts receivables require not one, but a series of adjusting entries to ensure that the financial statements properly reflect the current financial condition of a business and ...

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 ...

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 double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

Auditors can use Benford’s Law to identify general ledger irregularities — both those that can indicate fraud and those that do not. In this article, I introduce audit data analytics techniques that ...