ASSET STRIPPING Definition

Bookmark and Share

ASSET STRIPPING is buying a business and then realizing a profit by selling off the assets separately.

Learn new Accounting Terms

AUDIT PLAN / PLANNING is developing an overall strategy for the expected conduct and scope of the audit. The nature, extent, and timing of planning varies with the size and complexity of the entity, experience with the entity, and knowledge of the entitys business.

PERMANENT AUDIT DOCUMENTATION includes items of continuing accounting significance, such as the analysis of balance sheet accounts and contingencies. Such information from a prior year is used in the current audit and updated each year. Sometimes called the continuing file.

Suggest a Term

Enter Search Term

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