SHAREHOLDERS EQUITY Definition

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SHAREHOLDERS EQUITY is total assets minus total liabilities. It is the same as EQUITY, NET WORTH and stockholder's equity.

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MANAGEMENT REPRESENTATION LETTER is a letter addressed to the auditor, signed by the client's chief executive officer and chief financial officer. During an audit, management makes many representations to the auditor. Written representations from management in the letter confirm oral representations given to the auditor, document the continuing appropriateness of such representations, and reduce the possibility of misunderstanding.

INTEREST INCOME - NON-OPERATING is interest income generated from non-operating investment securities such as certificates of deposit or bonds for non-financial service companies.

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