ROCC is an acronym for Return On Committed Capital.
ACCOUNTING DATA is all the information and data contained in journals, ledgers and other records that support financial statements, e.g. spreadsheets. It may be in computer readable form or on paper.
EXAMINATION, in an audit, is evaluating the preparation of prospective statements, support underlying assumptions, and presentation. The accountant reports whether, in his
or her opinion, the statements conform to AICPA guidelines and assumptions provide a reasonable basis for the responsible party's forecast. The accountant should be independent, proficient, plan the engagement, supervise assistants, and obtain sufficient evidence to provide a reasonable basis for the report.
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