COMPILATION Definition

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COMPILATION is the presentation of financial statement information by the entity without the accountant's assurance as to conformity with Generally Accepted Accounting Principles (GAAP). In performing this accounting service, the accountant must conform to the AICPA Statements on Standards for Accounting and Review Services (SSARS).

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RELIABILITY CONCEPT is a quality of information that assures decision makers that the information represented in the financial records and financial statements captures the actual conditions and events of the reported entity.

BUSINESS is a commercial or industrial enterprise and the people who constitute it that undertake the activity of providing goods and services involving financial, commercial and industrial aspects.

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