COMPARE / COMPARISON Definition

Bookmark and Share

COMPARE / COMPARISON is an audit procedure where an auditor observes similarities and differences between items such as an account from one year to the next.

Learn new Accounting Terms

IRREVOCABLE LETTER OF CREDIT is a letter of credit in which the specified payment is guaranteed by the issuing bank if all terms and conditions are met by the drawee. It is as good as the issuing bank.

BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).

Suggest a Term

Enter Search Term

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