Tag - audit

THE WEBSITE IS ABOUT MANAGERIAL ACCOUNTING. EXPLAINED IN PLAIN LANGUAGE. ABOUT ACCOUNTING WITH LOVE

How to verify the managerial statement for the accounting period

Well, your accountant is presenting balance sheet, profit and loss account as well as cash flow statement prepared for the previous month. Even if you trust your employee and find him/her reliable, you should be able to make the express check anyway. First of all, it is necessary to:         1.       Compare the closing balance figures in at the end of the accounting period with the opening balance figures at the beginning of the accounting period.         These figures are to be absolutely identical to each other, up to...