ASSERTION Definition

Bookmark and Share

ASSERTION is when management asserts financial statements are correct with regard to existence or occurrence of assets, liabilities or transactions, completeness of information in the financial statements, rights and obligations at a point in time, appropriate valuation or allocation, presentation, and disclosure.

Learn new Accounting Terms

ESTIMATION SAMPLING is sampling to estimate the actual value of a population characteristic within a range of tolerable misstatement.

DEFERRED REVENUE see DEFERRED INCOME.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.