ASSURANCE ENGAGEMENT Definition

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ASSURANCE ENGAGEMENT is an engagement in which an accountant issues a report
designed to enhance the degree of confidence of third parties and management about the outcome of an evaluation or measurement of financial statements (subject matter) against an applicable financial reporting framework (criteria).

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GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. See also GROSS REVENUE.

VALUE IN USE is the value of an asset in the opinion of the owner.

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