Most people probably think of accounting and the accounts that the same thing, but accounting is really a function of accounting, while the report includes many features involved in managing the financial affairs of a company. Auditors prepare reports, is based in part on the work of Auditors.
Accountants perform a variety of tasks to track. Some of them are as follows:
-(And) they prepare what is called the source document for all operations in a business-buy, sell, transfer, pay and collect. The documents include papers such as purchase orders, invoices, packing slips, credit cards, time sheets, timesheets and expense reports. Auditors also need to determine and set on the source documents, known as the economic consequences of transactions and other events. These include wage workers, sale, borrow money or buy products or raw materials for production.
-Services of the financial implications do Auditors also in magazines and accounts. There are two different things. A journal is the record for the entries in chronological order. The accounts are a separate item or the page for each asset and every responsibility. A transaction may have an impact on different accounts.
-Accountants reports at the end of the period of time, daily, weekly, monthly, quarterly or annually. It makes all accounts up to date. The stock records shall be updated and reports that are checked and double checked to make sure they are as error free as possible.
-Auditors also compile the complete lists of all accounts. This is called the adjusted trial balance. While a small company can have hundreds of accounts, can be a very large company has more than 10,000 accounts.
-The last step is for the auditor to the closing of the books, which means that all accounts for the financial year end and summarized.
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