Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...

Journal entries are used in accrual accounting to record payroll expenses that have been incurred, at the time the expense becomes payable. Unlike cash accounting, which records payments when they are ...

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. Processing Content The publication, Audit Focus: Journal ...

A “Download” window will open in Excel letting you know that your document is in the process of being created. Click the “Close” button once the Journal Entry template has finished downloading into ...

The top-side journal entry is most susceptible to fraud by management override. It’s possible to make adjustments in subledgers, but this requires collusion with other organizational departments, ...

If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...