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 ...

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, ...

Business managers and accountants commonly use double entry bookkeeping to record business transactions and compose financial statements. Journal entries are initial records of the day-to-day ...

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 ...

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 ...

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more.