AUDIT DOCUMENTATION Definition

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AUDIT DOCUMENTATION see WORKING PAPERS.

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CASH SHORT/OVER ACCOUNT, in retail sales, is where any differences between the cash register tape totals and the actual cash receipts is charged against the cash short and over account. If the ending balance of the account is a debit it is shown on the Income Statement as a miscellaneous expense. If the ending balance of the account is a credit it is shown on the Income Statement as Other Revenue.

INFLATION HEDGE is a defensive investment that protects against the risk of loss caused by inflation. Tangible investments such as gold, silver and precious gems and coins are inflation hedges.

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