When you take cash out of your business and put it into a restricted fund, meaning it's set aside for a specific purpose, the transaction must be recorded in accordance with generally accepted ...

When a business purchases property, plant or equipment -- fixed assets that generally have a useful life in excess of one year -- generally accepted accounting principles, or GAAP, require all ...

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 ...

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 ...