ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PERPETUAL VALUATION Definition
PERPETUAL VALUATION see MARKET VALUE.
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EXAMINATION, in an audit, is evaluating the preparation of prospective statements, support underlying assumptions, and presentation. The accountant reports whether, in his
or her opinion, the statements conform to AICPA guidelines and assumptions provide a reasonable basis for the responsible party's forecast. The accountant should be independent, proficient, plan the engagement, supervise assistants, and obtain sufficient evidence to provide a reasonable basis for the report.
BONUS is remuneration over and above regular salary.
