Audit Procedures

Audit Procedures For Accounts Receivable: Everything You Need To Know!

Accounts receivables of any business entity are related to revenues. When a business entity makes credit sales, the invoices are issued to the customers, who are bound to pay the selling price at a future date. Therefore, we can say that accounts receivables are a very significant account for any business entity and play a

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Audit Procedures For Account Payable: Everything You Need To Know!

Accounts payable are a business entity’s liabilities that arise when the company purchases products or services on credit. The accounts payable of a company can be short-term or long-term. In general, the accounts payable are a current liability in nature. Accounts payable relates to the expenses of a business entity, and there is a high

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Audit Procedures For Cash and Bank: Everything You Need To Know!

A business entity can not run its operations without enough cash, cash equivalents, and bank balance. Therefore, cash is called the lifeblood of a business. A business can generate cash for meeting short-term & long-term expenses, making investments, or purchasing assets in several ways. Considering the importance of cash and bank balance for any business

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