ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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INTRODUCTORY PARAGRAPH Definition
INTRODUCTORY PARAGRAPH, in an auditor's report, is the first paragraph of the auditor's standard report which identifies the financial statements audited and states the financial statements are the responsibility of management and that the auditor's responsibility is to express an opinion on the financial statements based on the audit.
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ULLAGE is the empty space present when a shipping container is not full.
ECONOMIC RESOURCES is the profitable extraction or production, under defined investment assumptions, of returns that are analytically demonstrable or can be assumed with reasonable certainty.