What Is Accounts Receivable?
Accounts Receivable represent the money a firm has unpaid by its customers. This type of revenue is generated when a business creates an invoice and...
Audit Controls – Testing the Effectiveness of Controls
In addition to identifying areas of potential weakness, auditors must assess whether the system of internal controls is effective. To determine whether an internal control...
How to Prepare Your Own Balance Sheet
A balance sheet shows a company's assets, liabilities, and shareholder equity. It provides an overview of a company's finances and gives investors an idea of...