Forensic accounting is an area of accounting that uses accounting, auditing, and investigative skills to conduct investigations into theft and fraud.
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In liquidation, the sale of noncash assets for cash is called realization. Any difference between book value and the cash proceeds is called the gain or loss on realization.
- Owner’s equity statement
Owner’s equity statement is a financial statement that summarizes the changes in owner’s equity for a specific period of time. The time period is the same as that covered...
- Additional paid-in capital
Additional paid-in capital includes the excess of amounts paid in over par or stated value and paid in capital from treasury stock.
- Federal Unemployment Tax Act (FUTA)
The Federal Unemployment Tax Act (FUTA) is another feature of the federal Social Security program. Federal unemployment taxes provide benefits for...
- CVP income statement
CVP income statement is a statement for internal use that classifies costs as fixed or variable and reports contribution margin in the body of the statement.
- Book value of common stock
Book value of common stock is the amount per share that stockholders would theoretically receive if a company’s assets were sold on the balance sheet date. (Found by dividing stockholders equity by the number of common stock shares outstanding.
- Production cost report
A production cost report is the key document management uses to understand the activities in a department; it shows the production quantity and cost data related to that department.