OUTSOURCE Definition

Bookmark and Share

OUTSOURCE is to obtain goods or services from an outside supplier; i.e., to contract work outside of your budget and control. (An example would be companies outsourcing a percentage of their direct labor in order to maintain a flexible workforce.).

Learn new Accounting Terms

AUDIT OBJECTIVE is when in obtaining evidence in support of financial statement assertions, the auditor develops specific audit objectives in light of those assertions. For example, an objective related to the completeness assertion for inventory balances is that inventory quantities include all products, materials, and supplies on hand.

SUBVENTION is the provision of assistance or financial support such as an endowment or a subsidy from a government or foundation.

Suggest a Term

Enter Search Term

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