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Auditing

 

Auditing is one of the most important branches of the accounting discipline. An audit is the process by which the auditor examines financial results, which include balance sheets, cash flows, income statements/financial statements, and other financial statements. The purpose of auditing is to ensure that a company is ethically sound. Auditors are responsible for reviewing business processes and auditing financial statements. Feel free to contact free essay writing service for accounting and bookkeeping assistance. Auditors are also responsible for identifying illegal practices, penalizing companies or businesses, and helping them comply with ethical standards. There are two types of auditors in auditing: internal auditor and external auditor. Internal auditors monitor a company's internal environment; while external auditors examine a company's external environment.

 

Financial reporting

 

Financial reporting is also part of the accounting system. It is considered one of the most important branches of accounting. Financial reporting is how a company presents its financial information to different types of stakeholders. Financial accounting helps prepare financial statements, which include a balance sheet, income statement, and cash flow statement. Financial statements reflect a company's financial information, such as B. operating activities; profit or loss, cash outflows and inflows, and more. CFOs are responsible for preparing the financial statements of companies or businesses. Assistance in writing reports is available from https://essaywritinghelp.pro/write-my-research-paper/.

 

In addition, CFOs need to collect, analyze and report on financial transactions. The reason for publishing financial results is to inform stakeholders of the company's financial position. Topics of financial statements are presented in the company report, balance sheet, income statement, cash flow statement, board of directors, notes, etc.

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