AAFI Definition

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AAFI is Associated Accounting Firms International.

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NET SALES TO GROSS SALES shows the percent of all transactions that may be considered as "good" net transactions. Differences may arise from returns, bad product, or other sales concessions.

FIELD WORK, in auditing, is the performance of audit procedures outside the CPA's office. Much field work, but not all, is done in the client's offices after the balance sheet date.

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