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 ...

Journal entries are used in accrual accounting to record payroll expenses that have been incurred, at the time the expense becomes payable. Unlike cash accounting, which records payments when they are ...

When you sell property that you use in your small business, such as buildings, furniture or machinery, you must record the transaction in your accounting system to show whether the sale resulted in a ...

The top-side journal entry is most susceptible to fraud by management override. It’s possible to make adjustments in subledgers, but this requires collusion with other organizational departments, ...