Small businesses hold a wide variety of assets, which make up a large portion of a new company's balance sheet. During an audit, the audit team is required to verify management's assertion that these ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...

Auditors use different audit procedures to test management's assertions about a company's financial statements. The techniques employed depend upon the strength of the evidence desired, requirements ...

The AICPA updated its practice aid on the accounting for and auditing of digital assets, with new guidance on auditing their valuation and auditing procedures regarding their existence, rights, and ...

Please note: This item is from our archives and was published in 2021. It is provided for historical reference. The content may be out of date and links may no longer function. Accounting for and ...

Discover the key differences between fixed and current assets, including their roles in business, how they're recorded, and why they matter for financial strategy.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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