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Methods of Audit

Methods of Audit

Methods of Audit There is no hard and fast rule or method that can be laid down for auditing. In general, an audit is an investigation of an existing system, report, or entity. Audit of books of accounts can be conducted in various ways. Methods of conducting audit can be determined at the time o.....

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Lignite: Properties and Occurrences

Lignite: Properties and Occurrences

Lignite, often referred to as brown coal, is a soft, brown, combustible, sedimentary rock formed from naturally compressed peat. It is a sedimentary rock that is formed from naturally compressed peat.  It is considered the lowest rank of coal due to its relatively low heat content. It has carbon.....

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Disadvantages of Continuous Audit

Disadvantages of Continuous Audit

The audit that remains continue throughout the financial year is called continuous audit. This audit is usually done or preferred by those companies which are big and have plenty of transactions. This type of audit is essential to compile accounts on time. But at the same time, there may be a cla.....

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Advantages of Continuous Audit

Advantages of Continuous Audit

Continuous auditing is an emerging trend in the auditing landscape today. This audit enjoys many benefits. The most important advantages are detailed below: Advantages of Continuous Audit – Easy to the quick discovery of errors It is helpful in checking the errors and frauds easily. Errors.....

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Flower Of Life

Flower Of Life

The ‘Flower of Life’ is a name for a geometrical figure composed of seven or more evenly-spaced, overlapping circles. The pattern formed by the circles creates images of perfectly symmetrical flowers. Some ‘Flower of Life’ symbols uses as little as seven circles within the design so there.....

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Concept of Continuous Audit

Concept of Continuous Audit

The audit that remains continue throughout the financial year is called continuous audit. This audit is an audit that involves a detailed examination of books of account at regular intervals i.e. one month or three months. These audits are usually technology-driven and designed to automate error.....

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Lechatelierite: Properties and Occurrences

Lechatelierite: Properties and Occurrences

Lechatelierite is silica glass, amorphous SiO2, non-crystalline mineraloid. This mineral is an amorphous form of silica formed by the fusion by the heat of silica and found in fulgurites. It is a mineral consisting of vitreous or glassy silica formed naturally by the melting of quartz sand as a r.....

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Objectives of Periodical Audit

Objectives of Periodical Audit

Periodical Audit is started when the books of accounts closed at the end of the year. After the completion of the financial year, audit work is undertaken which goes on continuously till its completion. The only thing is that the audit is completed in one continuous session. This system is the mo.....

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Concept of Periodical Audit

Concept of Periodical Audit

Periodical Audit is an audit for an intermediate period. This audit is started when the books of accounts closed at the end of the year. This audit is one that is taken up at the close of the financial or trading period when all the accounts have been balanced and Trading and Profit and Loss Acc.....

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Disadvantages of Periodical Audit

Disadvantages of Periodical Audit

A periodical audit is conducted after closing the books of accounts and preparing the financial statements. This type of audit is very much convenient and useful for business houses, which are small. It is the most satisfactory form of audit from the point of view of an auditor. Disadvantages of .....

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Advantages of Periodical Audit

Advantages of Periodical Audit

Periodical Audit is usually implicit to be an audit that is not commenced until after the end of the financial period and is then carried on until finished.  In this audit, there is a cent percent checking of the accounts. The auditor carries on his audit work constantly till it is accomplished......

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Larimar: Properties and Occurrences

Larimar: Properties and Occurrences

Larimar also called “Stefilia’s Stone”, is a rare blue variety of the silicate mineral pectolite found only in the Dominican Republic, in the Caribbean. Its coloration varies from white, light-blue, green-blue to deep blue. It is a volcanic stone, the result of volcanic activity.....

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