PROFESSIONAL SUBSCRIBER Definition

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PROFESSIONAL SUBSCRIBER means all other persons who do not meet the definition of Non-Professional Subscriber. See NON-PROFESSIONAL SUBSCRIBER.

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NET OF TAXES means the effect of applicable taxes (usually income taxes) has been considered in determining the overall effect of an item on the financial statements. The phrase is used when a company has items that must be disclosed in a separate section. Each such item should be reported net of the applicable taxes.

SUFFICIENCY, in accounting, is a measure of the quantity of audit evidence. The independent auditor's objective is to obtain sufficient appropriate evidence to provide a reasonable basis for an opinion.

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