IMPLEMENTATION OF INTERNAL CONTROL Definition

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IMPLEMENTATION OF INTERNAL CONTROL means the auditor determines that the relevant controls exist and that the entity is using them.

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RETURN ON SALES is a measure of a companys profitability, equal to a fiscal years pre-tax income divided by total sales.

CASH MANAGEMENT is the management of the cash balances of a concern in such a manner as to maximize the availability of cash not invested in fixed assets or inventories and to avoid the risk of insolvency. According to Keynes there are three motives for holding cash: the transactions motive, the precautionary motive, and the speculative motive. The most useful technique of cash management is the cash budget.

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