Category Archives: Bookkeeping

Qualified Opinion: Definition and Place in Auditor’s Report

Content What Is an Unqualified Audit? unqualified opinion definition Unqualified Opinion Example Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials Best Accounting Software for Small Businesses Types of Modified Audit Opinion: Definition Example Explanation Audit Opinion Flow Chart Unqualified Opinion Well, because IFAC did not use term unqualified in its […]

Canceled Stale-Dated Checks Johnson County Kansas

Content Financial Management and Administration How long does it take for a check to clear? Stale-dated Paychecks Canceled Stale-Dated Checks Public Policy What is a stale-dated check and what should I do with one? When an employee turns in a stale-dated check which needs to be reissued, it will be verified, logged, and turned over […]

Standard Costing and Variance Analysis

The standard-cost process is mostly used to control the operating tasks. Manufacturing activities are routine and frequent and therefore easy for establishing standards. The system design must give the cost of operation rather than products, and the standard should be simple. Reporting problematic variances to top management for corrective action. In adverse economic times, firms […]

Coverage Ratio Guide to Understanding All the Coverage Ratios

The ICR ratio is calculated by dividing a company’s EBIT by its interest expense. So, join us as we unravel the concept of ICR, learn how to calculate it, and understand its interpretation in assessing a company’s financial strength. Using ICR alone will not help you compare two companies reliably especially if they belong to […]