Edusson writing accounting

The focus will be on the following types; accrual, cash flow and fund accounting.

Edusson writing accounting

Starting since the epoch when the records were approved after a public reading, to the era when government's officials were measured by their honesty.

However, the acceptance of auditing as an academic discipline is not old and just after the development of different concepts and techniques within the audit model such as the use of sampling, the study of the internal control environment, and the risk assessment, is when more focus to the theoretical and conceptual framework of auditing it is been devoted.

Andrew Sayer discussed the concept of theories in social science from the perspective of "theory as an ordering-framework p. Additionally Cooper and Schindler define theory as "a set of systematically interrelated concepts, definitions, and propositions that are advanced to explain and predict phenomena facts p.

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Another concept is expressed by Singleton and Straits explaining theory edusson writing accounting a "set of interconnected propositions" p. The success in the explanations or predictions of any phenomena depends on the level that the theory holds and do not fails fitting in the situation, and the challenge is to perfect the process of matching theory and fact Cooper and Schindler Different authors have started the development of the audit theory such as Mautz and Sharaf with their publication titled The Philosophy of Auditing; also Tom Lee with his approach in the book Company Auditing, and later David Flint with his book Philosophy and principles of auditing as cited in Moizer, The auditing analysis in this demonstration will be framed on the postulates proposed by David Flint as a foundation for the theory of auditing.

Flint stated that there is a matter of public accountability demanding an independent audit for its demonstration with clear definition and intention, based on evidence that only skilled auditors gather, measure it, and compare it against the standards, which generates economic or social benefit as cited in Moizer, Following are the seven postulates or assumptions stated by Flint There is a relationship of accountability or a situation of public accountability.

Accountability cannot be demonstrated without an audit. An audit requires independence and freedom.

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The subject matter of audit is susceptible to verification by evidence. Auditors are skilled judges who are able to measure and compare actual performance against standards of accountability.

The meaning, significance, and intention of statements to be audited must be clear. An audit produces an economic or social benefit. Flink, Whenever an economic relationship exists one of the parties owe a duty of an acceptable accountability, consequently audits are voluntary, imposed for the health of the relationship.

There are also audit related to the interest of the public in matters of the society institutions. As expressed by Whittington and Pany "dependable information is essential to the very existence of our society" p.

They explained the social need for audit and professionals who can attest that the reported information is fair respect to the reality for purpose of allocating resources for the production of services and goods based on reliable financial information p.

Normally the financial and economic aspects of the related subject matter are complex, not physically accessible, or have the level of significance that necessary demand an audit to accept the accountability.

No all investors or stakeholders of an entity understand the complexity of the business and financial environment, or are near to the place were their resources are to oversee for accountability. The credibility of the information is important and the preferable form of obtaining credible information to rely on is by using independent auditors to perform an audit.

Therefore, if the audit must add credibility it must be performed independently and without bias or prejudice. Audit is subject to verification and that is possible only if sufficient evidential matter of the audit is gathered.

Additionally, some standards of accountability and performance need to be in place to easy the auditor's measurement. Therefore, the parties involved must agree on their acceptable standards.

The auditing community has set some professional guidance as a form of general accepted practiced standards. For an audit to add value to the financial information, the purpose of the information should be clear, and the findings effectively communicated.

The audit should be performed only when its benefits weigh more than the costs. As a consequence auditors should be aware of the cost of collecting evidence especially in situation were the risk is high.

The practice of auditing auditors agree on an attest engagement in which they "issue or does issue an examination, a review, or an agreed-upon procedures report on subject matter or an assertion about subject matter that is the responsibility of another party e.

In an examination of financial statement, referred to as an audit the standards may be the Generally Accepted Accounting Principles GAAPand the auditors collect sufficient evidence to attest about how fair is the information in the financial statement respect to the GAAP.

edusson writing accounting

However, here are three types of audits: Financial audits determine if the statements were prepared according with GAAP. Compliance audit verifies if the company had complies with law, regulations or polices and procedures. The framework is divided in three major areas that are summarized as follow: A professional possessing adequate technical training and proficiency, independent in mental attitude and free from bias and with professional care planning and performing diligently, perform the audit.

Standards of field work. The audit should be adequate planned and the staff properly supervised.In this paper I will compare and contrast different types of accounting. The focus will be on the following types; accrual, cash flow and fund accounting.

I aim to show the strength and weakness of each, how entries are made for each, how and if each method handles depreciation, how inventory is accounted for and [ View Article ].

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Essay Writers/Uvocorp/Writer Bay Accounts on Sale, Nairobi, Kenya. 10, likes · 34 talking about this. Are you an on-line research writer? Get a. Theory of Auditing | Accounting Dissertation This dissertation has been submitted by a student.

This is not an example of the work written by our professional dissertation writers. Auditing has been present for years in different stage of development following the evolution of accounting.

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