| |
|
|
Abatement
A reduction in or a cancellation of, for example, a tax payment.
|
|
|
Above the line
A rather vague term best interpreted as meaning that part of the and loss accounts ( income statement ) above the measure of earnings on which Earning Per Share (EPS) is based.
|
|
|
Account current
A statement in debit and crdit form setting out in chronological order the transactions that have taken place between two persons or organsiations. Interest is sometimes calulated at agreed rates on the balances outstanding form time to time.
|
|
|
Abbreviated accounts
Financial statements filed with the Registrar of Campanies in which advantage has been taken of the exemptions avialable to small and medium companies.
|
|
|
Abnormal shrinkage
Shrinkage which should not arise under efficient operations.
|
|
|
Absolute value
The value of a number ignoring its plus or minus sign. The | x | is used to represent the absolute value of x.
|
|
|
Acceptance credit
In international trade, a credit opened by a bank against whihc an exporter can draw a bill of exchange
|
|
|
Audit
In general, the mechanism within the process of accountability whereby the performance of those in control of the resources of an orgnaization is checked or monitored by or on behalf of interested parties.
|
|
|
Audit expections gap
The gap between what the users of audit expect form autitors and what think they are currently receving. The gap can be divided into a standards gap (that between what users expect and what auditores believe they should give) and a performance gap (that between what auditors think they should give and what users think they are receiving).
|
|
|
Audit sample
A check of part only of the accounting records under the scrutiny of a auditor, An audit sample should, if possible, not only be statistically representively of the total accounting population but alos be protective, in that is allows the auditor to sample high value items more intensively than low value items; preventive, in that it is drawn in such away that it is difficult for the organization being audited to predict the items which will be drawn; and corrective in, that is increases the chance of indentifying and correcting errors.
|
|
|
Access time
The time taken to obtain information form or give information to a computer memory.
|
|
|
Accomodation bill
A bill of exchange signed by a person who acts as guarantor and who be liable to pay the bill if the acceptor fail to do as at maturity.
|
|
|
Account
A record in ledger of the transactions that have taken place with a particular person or thing. Accounts may be classified in a number of ways for example, into personal accounts, those that relate to persons such as debtors and crediitors; real accounts , those that deal With nonmonetary assets; and nominal accounts, those that deal with revenues and expenses.
|
|
|
Accountability
The obligation of stewards or agents to provide relevent and reliable information relating to resources over whic they have control and which have effects on others (principals). Stewards and agents include such diverse persons as company directors, civil servants, include owners (notably shareholders) but also persona as company directors, cvil servants, university councils and trustees in bankruptcy. Principals inculde owners ( notably shareholders ) but also persons without an ownership stake such as creditors, employees, consumers and taxpayers. The scope of accountability can thus be said to extend toall parties affected by the behaviour of those in control of the resources of organization. The relevant information may therefore be non-financial as well as financial. Accountability places two obligations upon stewards or agents : they must provide information (reder an account) of their dealings with the resources under their control and they must submit to an audit by or on behalf of the person or body to which they are accountable. Accountability procedures becomes more difficult if, as is now typical, the steward is larger and more powerful than the person to whom he accounts; there is doubt as to exactly what is being accounted for and the manner in which the account should be rendered; and the consequences of the steward s decisions and actions are delayed and cannot be understood immediately. For these reasons the process of accountability is often subject to regulation by law.
|
|
|
Account dealing
Buying and selling secuirties within the same stock exchange account.
|
|
|
Accounting history
The study of the evolution of accounting thought, practices and institutions in response to changes in the evolution on the environment and the needs of society, and of the effect of this evolution on the environment.
|
|
|
Accounting priniciples
Company law the priniciples according to which the amounts of all items in a company s accounts are to be determined. The prinicples may be summerized as: going conern, consistency, prudence, accruals the separate determination of individual items in determining aggregate amounts, and no setoffs.
|
|
|
Absorption costing
A method of costing which both variable and fixed overhead are treated as product coast the extent that goods manufactured during the period remain unsold, carried forward as part of the cost of stocks (inventories). Depreciation charged at a faster rate than is justified by elapse of economics usefulness, especially in order to gain advantages for taxation as accelerated cost recovery system.
|
|
|
Acceptance sampling
In an audit context, a sampling plan designed to control the levels of both alpha and beta risk.The auditor must specify a minimum unacceptable error rate together with a predetermined level of beta risk, and maximum unacceptable rejection rate together with a predetermined level of alpha risk.
|
|
|
Accessions tax
A capital tax based liability on the total of the gifts made to the donee, rahter than, as in the case of capital transfer tax, on the wealth of he donor. Such a tax is more in accordance with the principle of horizontal equity.
|
|
|
Account form
Arrangement of a financial statement as a two-sided account.
|
|
|
Accounting entity
The unit for which accounts are prepared. In definging the boundaried of an accounting entity it is necessary to ask for whom the information about the entity is inteded and for what purpose the information to be provided.
|
|
|
Accounting profit
Profit as measured by genrerally accepted prinicples of accounting as contrasted with taxable income.
|
|
|
Accounting rate of return
A method of capital investmental appraisal which measures the average net profit of a project as a percentage of the average book value. The projects as a precentag of the average book value. The project with the highest such return is assumed to be the best. This methods uses some data (e.g. depreciation) which are not cash flows and ignores the time value of money but it remains a popular methods of investment appraisal in practice. It can be shown that over the lifetime of project, the accounting rate of return is a weighted average of the internal rate of return (IRR), i.e. over long periods average ARR may be a good approximation to IRR.
|
|
|
Accounting technician
An accountant who is not a member of one of the six major professional Accountancy Bodies. Not all accounting technicians are membres of the Association of Accounting Technicians.
|
|
|
Accounting payee
Words used on a crossed cheque to indicate that it may be paid into the bank account of the payee only.
|
|
|
Accounting rendered
A restatement of an unpaid balance form a previous statement of account.
|
|
|
Account sales
A document showing the gross and net proceeds of a consignment of goods sold by one person for the account and risk of another, and giving details of the expenses and charges in connection with the sale.
|
|
|
Accounts payable
Amounts owing by an enterprise, distinguished form accrued expoenses and other current liabilities not arising out of the trading transactions.
|
|
|
Accretion
The increase in the value of an asset through physical change (e.g a growing crop) rather than by changes in market prices.
|
|
|
Accrual accounting
An accounting system which, unlike cash flow accounting, recognizes revenues and expenses as they are earned or incurred, not as cash is received or paid. So far as possible, expenses are matched against the revenues for the generation of which they have been incurred.
|
|
|
Accrued benefits
Benefits due under a pension scheme or life policy.
|
|
|
Accumulated depreciation
The cumulative amount sheet date. A crdit balance, it represents a valuation adjustment which is deducted form the historical cost (or revalued amounts) of a fixed assets in the balance sheet. It is also referred to as provison for depreciation.
|
|
|
Accumulated funds
The members interset of a non-profit-making organizations such as a club.
|
|
|
Accumulation units
Units in unit trust on which interest is rolled up or reinvested so as to increase unit value.
|
|
|
Acquisition
A business combination in which one enterprise takes over another.
|
|
|
Adjustable rate preferred stock
Preferred stock the dividends on which are linked to current interest rates. Such stock is very similar to debt but will be recorded as minority interest in a consolidated balance sheet.
|
|
|
Adjusting enteries
Entries made at balance sheet date in an Accrual Accounting System in ordre to take account of such items as depreciation, closing stock, prepaid expenses, accrued expenses, provissions for doubtful debts and accured interest receivable.
|
|
|
Abandoment costs
The cost of giving up entirely the ownership or use of an asset. These costs can be extermely high in some industries and give rise to problems as to which periods the costs should be charged to.
|
|
|
Ability to pay
A measure of taxable capacity. Ability to pay based on attributes of taxpayers such as income (the most common in account earnings.
|
|
|
Abnormal performance index
An index of non-systematic changes in share prices used to study the effects of unexpected changes in accounting earnings.
|
|
|
Accounting information system (AIS)
A system which provides quantitative information about the effect of transactions and other event on an accounting entity.
|
|
|
Accounts receivable
Amounts owing to an enterprise, distinguished form prepaid expenses and other current assets not of trading transactions.
|
|
|
Accured benefits method
In the context of pensions, a method in which the actuarial value of liabilities reltes at a given date to (a) the benefits,including future increases promised by the rules, for current and deferred pensioners and their dependents; and (b) the benefits which the members assumed to be service on the given date will receive for service up to that date only.
|
|
|
Accurred revenue
Revenue (e.g. interest) which has been earned but not yet received at balance sheet date. In accordance with the accruals conventions and subject to considerations of prudence, profits is increased accordingly and current assets established.
|
|
|
Administrator
A person appointed by the court to manage a company that is subject to an adminstration order.Also, a person appointed to administer the estate of a person who dies without making a will.
|
|
|
Advance
A sum paid by way loan or as a payment on account. In partnership accounts it represents an amount paid into the pertnership over and above a partner s agreed capital contribution.
|
|
|
Advancement
A payment by a partent, during hiw or her lifetime, to a child of what the child would receive, as heir or beneficiary, at the death of the parent.
|
|
|
Ad wedge
A product’s superior feature(s) that can be referred to in designing a commercial or advertisement.
|
|
|
After image
An illusory visual image remaining with a spectator after the actual image is no longer visible.
|
|
|
Age analysis
A periodic listing of debtors accounts (accounts receivable) analysed by the debt. Age analysis is an essential part of crdit management and control.
|
|
|
Agency costs
Costs that arise out of agencyrelationship is a contract under one or more persons (the principals) engage another person (the agent) to perform some service on their behalf that involves delegating some decision making authority to the agent, Agnecy costs arise because the agent may not always act in the best interests of the principal is likely to incur monitoringcosts in order to limit the aberrant activities of the agent. Monitoring involves not only measuring or observing the behaviour of the agentbut also efforts on the part of the principal to control the behaviour of the agent. The agent amay incur bonding costs in his efforts to guarantee thathe will not take certain actions that would harm the prinicipal or that if this happened the principal would be compensated. Apart form monitoring and costs, further costs may arise form the fact that the agent may take decisions different form those which maximize the welfare of the principal. These are termed the residual loss. Agency costs are thus the sum of monitoring costs, bonding costs and residual loss. The concepts of agency theory have been employed in business finance, management accounting, financial accounting and auditing. Using the last two of these as an illustration, it has been argued, for example, that the desire to minimize agency costs explains why, even in an unregulated economy, finanical statements may be provided voluntarily by managers to creditors and shareholders and independent auditors engaged to testify to the truth and fairness of such statements. Creditors will prefer a convenant by the shareholders resticting the payment of dividends (since otherwise the managers and shoreholders might steal the assets); shareholders may wish to tie management wealth to shareholder wealthby, for example, managerial bonuses based on profits. Oringinally such audits were typically performed by shareholders but professional auditors were later regared as both more component and more independent.
|
|
|
Agreed bid
A takeover bid supported by a majority of the shareholders of the company being bid for.
|
|
|
Allocation problem
The problem of low to allocated cost of services purchase, whenonly part of the services are used up in one accounting period.
|
|
|
Alpha
In Portfolio Theory, a coefficient that measures how well a managed portfolio has performed compared with riskfree portfolio after making allowance for the beta of the managed portfolio.
|
|
|
Alpha risk and data risk
In an audit sampling context, the risks that an auditor will reject a population when he should have accepted it (alpha risk) and that an auditor will reject a population when he should have rejected it (beta risk).
|
|
|
Alternative director
A person nominated by director of a company to act in his or her place during absence.
|
|
|
Alternative budgets
Budgets drawn up on different assumptions about future costs and revenues.
|
|
|
Amalgamation
The absorption by one company of the business and net assets of another comapny, the latter caompny being dissolved or both companies being dissolved and new company formed to take over both businesses.
|
|
|
Amortized cost
The cost of an asset less any amortization written off.
|
|
|
Anglo-Saxon accounting
Accounting and financial reporting as practised in Englishspeaking coutries. Accounting in these coutries is based mainly on a common philosophy of presenting a fair view to investors but there are many differences of detail.
|
|
|
Annuity
AnnuityA series of equal periodic payments occuring at equal intervals of time. An ordinary or immediate annuity is one in which the payments are made at the each period; and annuity due is one in which the payments are made at the beginging of each period.
|
|
|
Accountancy
Often used merely as a synonym for accounting, but some writers distinguish between accountaing and thre professtion of accountancy.
|
|
|
Accounting journals
Journals aimed at professionsla or academic accountants or both.
|
|
|
Accounting system
A set of records and procedures designed os as to handle in routine fashion the transactions (especially those concerning cash, sales adn purchases) and other events affecting an enterprise s operations, performance and financial position.
|
|
|
Accounts
In general, all the Accounting Records of an enterprises. The term is also used to mean the Financial Statements preared form those records.
|
|
|
Accured expenses
Expenses (e.g. wages) which have been incurred but not yet paid at balance sheet date. In accordance with the accurals convention the charge to profit and loss accounts is increased accordingly and current liability established.
|
|
|
Acoustic coupler
A device which converts electrical pulses to found Waves for transmission along telephoe lines, thus enabling a computer to communicate with a remote terminal.
|
|
|
Alogorithm
A rule or set of rules for solving a methematcial problem systematically in a finite number of steps.
|
|
|
Annual general meeting (AGM)
The annual general meeting of an organization and in particular, a meeting of the members (i.e. the shareholders) of a company held at intervals of not more than 15 months. THe first AGM must be held within 18 months of information of the company. Most AGMs are formal and brief. THe usual business transacted includes reception and consideration of the directors, report and accounts and the auditors report, declaration of a dividend, elcetion of directors and the appointment of and fixing the remuneration of the auditors. Apart form annual general meetings the law makes provison for extraordinary general meetings and separate meetings of classes of sharehoders.
|
|
|
Allowance
A deuction form an invoice granted for a reason other than prompt payment; the amount that an employee is entited to spendon, for example, travel or enterainment.
|
|
|
Annuity certain
An annuity where payable for a fixed period of time.
|
|
|
Annuity due
An annuity where payment is made at the beginning of each period. Contrast Ordinary Annuity.
|
|
|
Applicable accounting standards
Accounting standards issued by such body or bodies as may be prescribed under the Companies Act. The body presently so prescribed is the Accounting Standards Board. Companies must state whether their accounts have been prepared in accordance with such standards and give particulars of any material departure therform and the reasons therefor.
|
|
|
Applications and allotment account
A ledger account used to record the application and allotment of shares.
|
|
|
Application for listing
An application by a company for a listing of its secuirity on a stock exchange.
|
|
|
Application form
The form attached to a prospectus which must be completed when making an application for and allotment of shares in a new issue.
|
|
|
Application money
The amount per share or unit of stock payable on application for new issue of shares or debentures.
|
|
|
Appraisal
The valuation of an asset or a liability by an expert in such valuations.
|
|
|
Appreciation
An increase in the market value of fixed asset; a rise in the value of one currency in terms o another.
|
|
|
Arbitrage
Simulatneous purchases of a sceuirity, currency, or other asset in markets in which there are differences in price. In aiming to profit form the price difference, the arbitrageur helps to eliminate it.
|
|
|
Arithmetic progression
A sequence of numbers in which each number increases or decreases by a constant amount.
|
|
|
Articles of association
The internal regulations of a company, ususally convering such matters as rights of various classes of shares; calls on shares; transfer, transmission and and forefeiture of shares; alternation of share capital; general meetings (notice, proceedings ); votes and proxies; directors; dividends and resrves; accounts; capitalization of profits; audit; winding up; and similar matters.
|
|
|
Artificial intelligence
The ability of a compauter ot perform functions associated with human intelligence, such as reasoning and learning form experience.
|
|
|
Assembly language
In computing, a lowlevel language in which each statement corresponding to an instructions in machine code.
|
|
|
Asset
Any resource, tangible or intangible, controlled by an enterprise as a result of past and form which future economic benefits are expected to flow to the enterprise.
|
|
|
Asset classification
Assets are usually selling off the easily separable assets of a company that has been the object of a successful takeover bid. The assets sold have usually been shown in the balance sheet at less than their net realizable value.
|
|
|
Associated undertaking
An undertaking other than a subsidiary in which a group has a participating interest and exercises a significant influence over its operating and financial policies.
|
|
|
Accounting
In broad terms, the preparation and communication to users of financial and economic information. The information ideally posseses certain qua-litative characteristics. Accounting involves the measurment, usually in monetary terms, of transactions and other events pretaining to accouting entites. Accounting information is used for stewardship, control and decision-making. Accounting and accountacy are often as synonyms but it is more usual to refer to the accountancy profession rather than the accounting profession. The distinction between bookeeping and accounting is to some extent arbitrary but the latter involves analysis and interpretaion as well as recording.
|
|
|
Accounting identity
(accounting equation). The relationship which holds among assets, liabilities and capital i.e.assets equals liabilities plus capital or assets minus liabilities equals capital. The former expresses an entity view of a business s operations; the latter expresses a proprietary view.
|
|
|
Accounting machine
A machin designed for the operation of a particular accounting function such as, for example, sales ledger accounting. Accounting machines form a link between manual accounting systems and computerized accounting systems.
|
|
|
Accounting manual
A detailed description of an organization s accounting policies and procedures.
|
|
|
Accounting officer
The person in a government department or agency who is responsible for the accounts.
|
|
|
Accounting period
The period between two successive two balance sheets and that for a which profits and loss accounts (income statements) and cash flow statements are prepared. For managers it may be any period of convenient length (e.g. a month) but for a shareholders and tax authorities it us usually a year.
|
|
|
Acquired surplus
The surplus of an enterprise existing at the date at which another enterprise acquires control; the initial surplus ( retained earnings) of a successor enterprise where there has been a pooling of interests and no full capitalization of prior retained earnings; the execess over the cost of acquisition of dividdends received by a parent company form a subsidiary s preacquisition earnings.
|
|
|
Advance corporation tax (ACT)
The tax payable in advance when a company pays a dividends. The amount payable is tied to the basic rate of income tax. It deductiable from the total corporation tax liability, the balance being known as Mainstream Cooperation Tax (MCT). Act helps to maintian the government s cash ans also ensures that tax credit passed on to shareholders are always paid for even if for example a company has no taxable income. This is so because ACT is not recoverable if the total corporation tax liablity is insufficiently and back for a number of years. In a company s balance sheet, ACT payable is a creditor due within one year, but ACT recoverable is a deferred rather than a current asset because it is insufficiently large. Unrelieved ACT may, however, be carried forward indefiniently and back for a number of years. In a company s balance sheet, ACT payable is creditor due within one year, but ACT recoverable is a deferred rather than a current asset because it is not recoverable unit the following accounting period. It is usually deducted form deferred taxation account where one exists. Where ACT is irrecoverable it is written off to profit and loss account.
|
|
|
Affinity card
A credit card whose use provides funds for a charitable or other organization.
|
|
|
Aggregation
The adding together of separate gifts made during a donor s lifetime.
|
|
|
All-inclusive concept
THe inclusion in the profit and loss account (income statement) of all items of profits or loss including extraordinary items and prior year adjustment.
|
|
|
A la carte agency
Agency working on a fee basis
|
|
|
Amortization
The redemption of a loan by means of systems into a sinking fund; also used as a synonym for deprecition, especially,especially where the asset being depreciated, e.g. a lease, has a fixed life or is an intagible asset.
|
|
|
Analysis of variance (ANOVA)
In statistics, the analysis of the total variation in dependent variable into the proportions accounted for by the explanatory variables and the unexplained or residual variation.
|
|
|
Annual report
Any report prepared at yearly intervals and in particualr the report required by law or other regulaion to be made annually by the directors of a company to its sharehoders.
|
|
|
Annuity bond
A bond without a maturity date on which interest is paid prepetually.
|
|
|
Application
An offer by an investor to subscribe for a specified number of shares in company.
|
|
|
Appropriation
In public sector accounting, a specified amount authorized to be spent for a particular purpose.
|
|
|
Approval, sale on
A transaction in which goods are supplied to a customers who has, the option of retaining or returning them. Only if the goods are retained has a sale taken place.
|
|
|
A priori theories of accounting
The development and and reationalization of systems of accounting valuation and mesurement means of deductive reasoning. A priori theories proceed form cause to effect making use of assumed axioms rather than of experience. The production of a priori theories of accounting reached a peak in the 1960s.
|
|
|
Arrears
Money unpaid or a liability not dicharged by a due date. Dividends in arrears re disclosed in the notes to financial statements.
|
|
|
Articulated accounts
Accounts in which the it profit and loss account (income statement) and the balance sheet form part of the same double entry System, so that the residual balance on the formare matches the changes in owners s equity in the latter.
|
|
|
Artificial person
An organization reconized by law as person but which is not a natural person but which is not a natural person, ASEAN Federation of accounts (AFA). A regional accountancy group formed in Bangkok in 1977 and comparising the professional accountancy bodies of the ASEAN countirs.
|
|
|
Attestation
The signing of a document as witness to the signature of another.
|
|
|
Attest function
The expression of an audit as to the truth and fairness of statements.
|
|
|
Atmospherics
The graphic identity of a corporation, as represented by the physical appearance of its publicly visible property, communications and employees.
|
|
|
Administration order
An order of court, made in relation to a company that is insolvant or likely to become insolvent, and with the purpose of preserving the company s business.
|
|
|
After hours dealings
Stock exchange dealings conducted after the offcial close of business.
|
|
|
Allonge
A slip od paper attached to a bill of exchange for the purpose of receiving endorsements.
|
|
|
Analytical review
The process of examining and comparing figures, financial and non-financial, with internal and external data, in order to help an auditor to form a judgements. It forms part of an auditor s substantive tests. Analytical review involves the use of comparison (with e.g., external economic conditions, other companies, other parts of a business, budgets, past data), rations, graphs and statistical techniques such as regression analysis and time series analysis.
|
|
|
Annual accounts
The annual financial statements of an orgainization presented in tis annual reprots.
|
|
|
Annual equivalent cost
A variant of the Net Present Value (NPV)method of Capital Investment Appraisal. The NPV is converted into an annual equivalent cost method is particularly appropriate for choosing between projects with differing lengths of life where continual repalacement can be assumed.
|
|
|
Appropriation account
1. an account account prepared at the end of the financial year of the spending by centeral government departments of nomies voted by parliament. It compares the Supply Estimate and any Supplementary Estimates with actual payments made and receipts brought to account, and explains any substantial differences. An Appropriation Account is prepared for each individual Supply Estimate.
|
|
|
Aritrage pricing theory (APT)
A theory which challenges the Capital Asset Pricing Model (CAPM) by using more than one factor to explain movements in secuirity prices.
|
|
|
ARIMA
Acronym for the autorgressive integreated moving average time series process.
|
|
|
Arithmetic mean
A measure of the central tendency of a group of numercial data, obtained by dividing the sum of the quantities by the number of items.
|
|
|
Aspiration level
A person s expectations about his or her performance. Knowledge of aspiration levels is relevant to Standard Costing and Budgetary Control. Research suggests that a constant achievement to too easily attained goals may adversely affect motivation and performance: as may also a constant failure to achieve goals that have been set so high that they can never be reached. Also, persons tend to have higher expectations and work harder ti achieve them when they have been directly involved in setting goals and have developed a personal commitment to their establishment.
|
|
|
Assented bonds
Bonds In respect of which the holders have assented to a variation in rights.
|
|
|
Attainable standard cost
A satandard cost attainable under very efficient operating conditions, allowance being made for normal spoilage, ordinary machine breakdowns and cost time.
|
|
|
Audit committee
A committee appointed by a company as a liaison between the board of directors adn external auditors. The committee normally has a majority of a non-executive directors and is expected to view the company s affairs in a detached and dispassionate manner.
|
|
|
Audit evidence
Information obtained by auditors in arriving at the conclusions on which they base their opion financial statements.
|
|
|
Auditing Practices Board (APB)
THe successor body to the Accounting Practices Committee (APC). The APB is designed to be more independent of the audit profession than the APC. Half of its members are practising auditors and the other half non-practitioners, the latter comming form business, academia, the law the public sector.
|
|
|
Audit manual
A written set instructions setting out auditing policies and procedures. The audit manuals of several auditing firms have been published.
|
|
|
Audit programme
A description of the work ti be done in an audit, serving both as a planning document and as a control on procedures carried out.
|
|
|
Audit report
A reprot made by an auditor upon financial statements.
|
|
|
Audit risk
The risk that an auditor will fail to detect a material error and thus issue an unqualified audit opinion when a qualified or an adverse opinion would be more appropriate.
|
|
|
Annual return
A document whiche be completed by a comany within 42 days of the annual general meeting and forwarded forthwith to the registrar of companies. Its main elements are: (i) address or registered office; (ii) address where registers of members adn debenture-holders are kept; (iii) summary of share capital and debentures, giving number of issued shares of each class, the consideration for them , details of shares not fully paid-up addresses of past and present shareholders giving number of shares held and particulars of transfers; (vi) names, addresses and occupations of directors and secretaries ( and nationality of directiors).
|
|
|
Application of funds
A transaction that reduces the funds (cash, working capital) available to an organization, e.g. purchasing a fixed asset or repaying a loan.
|
|
|
Appropriation of profits
The use of profits for a specific purpose, e.g. provision for a dividend, transfer to reserve.
|
|
|
Attributes sampling
In an audit or quality control context, sampling based on the qualitative rather than the monetary characterstics of sampling units.
|
|
|
Auction
The sale of a commodity or secrity at which the highest bid is sucessful.
|
|
|
Audit software
Computer packages used by an audit in the audit of compauter operations.
|