- Industry: Accounting
- Number of terms: 7464
- Number of blossaries: 0
- Company Profile:
A registration statement filed with the SEC includes audited financial statements (balance sheet, income statement, and statement of cash flows) for the previous three years. A prospectus contains the same information and must be supplied to all parties to whom offers are made. There is a twenty-day waiting period between the filing of the registration statement and the first sale of securities. During this period, preliminary ads and a "red herring" prospectus can be provided to offerees but must be clearly marked as preliminary.
Industry:Accounting
A power of attorney granting a third party the right to a stockholder's vote. When management or others solicit proxies from stockholders, a copy of the proxy statement must be filed with the SEC ten days before mailing the solicitation. The proxy statement must include all information relevant to the matter voted on.
Industry:Accounting
Relating to the quality of a trait, as opposed to quantitative, which means expressed as a number.
Industry:Accounting
An internal control questionnaire is a list of questions about the internal control system to be answered (with answers such as yes, no, or not applicable) during audit fieldwork. The questionnaire is part of the audit documentation of the auditor's understanding of the client's internal controls.
Industry:Accounting
Identical probability of each population item being selected for a sample. Also, the use of random numbers to select a random sample from a population.
Industry:Accounting
provide a CPA firm with reasonable assurance that personnel comply with professional standards and the firm's standards of quality, independence, integrity, and objectivity. It covers personnel management, acceptance and continuance of clients, engagement performance, and monitoring.
Industry:Accounting
Quick assets divided by current liabilities. Quick assets are current assets less inventories and prepaid expenses.
Industry:Accounting
In audit sampling a ratio of the proportion of errors in the sample applied to the population value to estimate total error.
Industry:Accounting
The relation between two quantities expressed as the quotient of one divided by the other. The ratio of 8 to 2 is written 8/2 and equals four. Financial statement ratios are used in analytical procedures in audits.
Industry:Accounting
