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Главная » Файлы » Accounting & Audit » Glossary

Glossary of Terms
[ ] 04.05.2009, 00:55

           Accounting estimate -- an accounting estimate is an approximation of the amount of an item in the absence of a precise means of measurement.


           Accounting system -- an accounting system is the series of tasks and records of an entity by which transactions are processed as a means of maintaining financial records. Such systems identify, assemble, analyze, calculate, classify, record, summarize and report transactions and other events.


            Adverse opinion -- (see Modified auditor's report)


Agreed-upon procedures engagement -- in an engagement to perform agreed-upon procedures, an auditor is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings.

The recipients of the report must form their own conclusions from the report by the auditor. The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results.


Analytical procedures -- analytical procedures consist of the analysis of significant ratios and trends including the resulting investigation of fluctuations and relationships that are inconsistent with other relevant information or deviate from predictable amounts.


Annual report -- an entity ordinarily issues on an annual basis a document which includes its financial statements together with the audit report thereon. This document is frequently referred to as the "annual report."


Application controls in computer information systems -- the specific controls over u the relevant accounting applications maintained by the computer. The purpose of application controls is to establish specific control procedures over the accounting applications in order to provide reasonable assurance that all transactions are authorized and recorded, and are processed completely, accurately and on a timely basis.


Appropriateness -- Appropriateness is the measure of the quality of audit evidence and its relevance to a particular assertion and its reliability.


Assertions -- Assertions are representations by management, explicit or otherwise, that are embodied in the financial statements, (see Financial statements assertions)


Assistants -- Assistants are personnel involved in an individual audit other than the auditor.



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