A financial statement is a formal record of the financial activities of a business. All the relevant financial information is presented in a structured manner and in a form that is easy to understand. These typically include basic financial statements that are accompanied by a management discussion and analysis. The basic financial statements are the… Read More


What is an operating expense? An operating expense is an ongoing expense for running a business or system. It is a day-to-day expense such as administration or cleaning. A short explanation would be that it is the money a business spends in order to turn its inventory into throughput. On an income statement, operating expenses… Read More


accounting

What is an internal audit? The objective of an internal audit is to provide independent assurance that an organization’s risk management, governance and internal control processes and operating effectively. What is the value of an internal audit to the organization? Internal auditors deal with issues that are fundamentally important to the survival and prosperity of… Read More