Understanding External Financial Statements

Companies offer external financial statements for sharing information about their business to the outside world including prospective lender and investors. Generally, external financial statements provided by companies are not much different from its internal accounting, though these can be considerably … Continue reading

The Four Accounting Principles

Every profession dictates its own principles to follow and accounting is no exception. Though accounting principles are multifarious, their fundamentals are neither difficult to understand nor being put into practice. Accounting principles comprise of four essential assumptions, four essential principles … Continue reading

Auditing of A Computerized Accounting System

The auditing of computerized accounting system can easily be accomplished by keeping in mind the following five basic steps. However, before getting started with it, for an efficient execution of audit it is imperative for the auditors to have a … Continue reading