ENVIRONMENT Definition

Bookmark and Share

ENVIRONMENT, in an accounting control assessment, is the attitude, awareness, and actions of the board, management, owners, and others about importance of control. It
includes integrity and ethical rules, commitment to competence, board or audit committee participation, organization structure, assignment of authority and responsibility, and human resource policies and practices.

Learn new Accounting Terms

INTEREST COVERAGE is a ratio which indicates the ability of a company to cover net interest expenses with income before net interest and taxes. It is calculated by dividing income before interest and taxes by interest.

EARNING CAPACITY, LOSS OF 'Loss of earning capacity' means the difference between the worker's net average earnings before the incident, and the net average amount of wages the deciding body determines the worker is capable of earning after the incident.

Suggest a Term

Enter Search Term

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