Business

Advantages of Cost Audit to the Government

Advantages of Cost Audit to the Government

Cost Audit represents the verification of cost accounts and checks on the adherence to cost accounting plan. It’s objective is to detect errors and prevent frauds and possible misappropriation. he function of this audit is to ensure management the accuracy of cost accounts. Advantages of.....

Read More »

Advantages of Cost Audit to the Society

Advantages of Cost Audit to the Society

Cost audit establishes the accuracy of cost accounts and will assist in the prevention of errors and frauds. It provides necessary information for prompt decision decisions. It helps management to regulate production. It exercises moral influence on employees which keeps them efficient and alert......

Read More »

Advantages of Cost Audit to the Shareholders

Advantages of Cost Audit to the Shareholders

Cost audit reveals whether any of the products of the company are making losses. It will help management in taking important decisions because prompt, accurate and reliable information is made available to management with the help of cost audit. As per ICWA London, “It is the verification of .....

Read More »

Advantages of Cost Audit to the Management

Advantages of Cost Audit to the Management

Cost audit as the name suggests is an audit of cost records. It stands for the verification of cost accounts and checks on the adherence to cost accounting plan. It’s objective is to ensure that cost accounts are correct and also to detect errors, frauds and wrong practice in the existing s.....

Read More »

Writing Tips on Gratitude Letter for Referring your Company

Writing Tips on Gratitude Letter for Referring your Company

Thank you letters, graciously and sincerely written, are essential in the business world. Gratitude letters are a great way to express your appreciation for people’s help. If someone refers a client to you, make sure to send them a thank you note to let them know how much you value the suppor.....

Read More »

Objectives of Management Audit

Objectives of Management Audit

Management Audit is the methodical and detached assessment, study and evaluation of managements in general performance. The main objective of this Audit is to find defects of irregularities in the areas enclosed by the audit and to recommend probable improvements. It is similar to the operational.....

Read More »

Functions of Management Audit

Functions of Management Audit

Management Audit helps management in setting sound and effective targets. It is the method of evaluating the total efficiency of the management from the top level to the lowest level. It was originally developed as a tool for investment appraisal. It is popularly known as operational management.....

Read More »

Concept of Management Audit

Concept of Management Audit

Concept of Management Audit Management audit is an emerging concept of auditing. It is an assessment of how well an organization’s management team is applying its strategies and resources. It helps management in setting sound and effective targets. It takes into account both financial and n.....

Read More »

Advantages and Disadvantages of Management Audit

Advantages and Disadvantages of Management Audit

Management audit is an audit of the management. It analyses the different ways to overcome in efficiencies or weaknesses. It is generally conducted at the instance of the management. It is the method of evaluating the total efficiency of the management from the top level to the lowest level. Adva.....

Read More »

Advantages of Internal Audit

Advantages of Internal Audit

An internal audit is the evaluation of all aspects of an organization by an internal auditor. One of the biggest benefits of an internal audit is that it facilitates more effective management of the organization. An internal auditor would be able to point out the weaknesses of an organization. It.....

Read More »

Objectives of Internal Audit

Objectives of Internal Audit

Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It provides independent assurance that an organization’s risk management and internal control processes are operating effectively. hey ensure compl.....

Read More »

Concept of Internal Audit

Concept of Internal Audit

Concept of Internal Audit An internal audit is where a business is examined by someone working within the company. This audit is a review of operations and records undertaken within a business by specially assigned staff. It is an independent function which evaluates and appraise the functioning .....

Read More »