ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ADVERSE OPINION Definition
ADVERSE OPINION is expressed if the basis of accounting is unacceptable and distorts the financial reporting of the corporation. If auditors discover circumstances during the course of the audit that make them question whether they can issue an unqualified opinion, they should always discuss those circumstances with the client before issuing the opinion, in order to determine whether it is possible to rectify the problem.
Learn new Accounting Terms
FREIGHT OUT is the handling, packaging, and shipping costs of product; normally considered a selling cost.
NET, in general, is the figure remaining after all relevant deductions have been made from the starting, or gross, amount.
