ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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AUDIT OPINION LETTER Definition
AUDIT OPINION LETTER is a signed representation by an auditor as to the reliability and fairness of a set of financial statements. It is usually presented at the beginning of an audit report.
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ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.
WRITE-UP SERVICE is the provisioning of all reporting requirements of bookkeeping and accounting services. The following is a non-exhaustive list of reporting services provided:
- 1099s report preparation for subcontractors
- Bank account reconciliation
- Check coding
- Fixed asset schedules
- Maintenance of general ledger
- Payroll deposit calculations
- Payroll tax filings
- Personal property tax returns
- Preparation of internal financial statements