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Financial Audit - Coggle Diagram
Financial Audit
Balance sheet
Liability Accounts
The set of financial representations of the obligations contracted by the entity is called a liability, which has committed itself, as a result of said commitments, to transfer economic resources to other entities in the future. In other words, "it is what the company owes".
Capital Accounts
The Assets must respond to the Liabilities, leaving the difference free, that is, what constitutes the Capital of the company
Asset Accounts
Asset is the set of financial representations of economic resources, capital goods and values, tangible and intangible, owned by the Organization on a given date
Financial reasons
they are comparable with those of the competition and lead to the analysis and reflection of the operation of the companies against their rivals,
Statement of income
Sales cost
are those who are incurred in the area that is responsible for carrying the product from the company to the last consumer
Expenses
are those reasonable expenditures, which the company must incur, in order to generate sales and / or income
Net sales
This concept includes the total amount of sales, made by the company during the reference year, of finished products
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Cash flow
Comparative Method
When comparing the balance sheets of 2 periods with different dates we can observe the changes obtained in the Assets, Liabilities and Equity of an Entity in terms
of money.
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State of Origins
Regarding the name of State of Origin and Application of Resources, the US Commission on Financial Accounting Principles
Results report
The most common type of auditor's report is the standard report, also known as an unqualified opinion or a clean opinion.
Integral Analysis
Importance of Financial Economic Analysis its parts where everything is assigned the value of 100% and the parts a relative%.
Projections
One of the most important objectives of financial budgeting is to find the projected levels of Cash that the company will have in the future, based on projections of the evolution of sales, purchases, collections, payments and other movements in the
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