By manipulation or falsification of accounts we mean to say that the accounts are prepared in such a way as to show more profits or less profit or even to show a loss when in fact there is no loss. This type of fraud is difficult to discover. It is usually committed by directors or managers with certain objects.
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By fundamental principles of auditing we mean the chief rule and principles according to which the books of account of a business
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Accounting time periods are generally a month, a quarter, or a year. Monthly and quarterly time periods are called interim periods. An accounting time period that is one year in length...
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The allowance method of accounting for bad debts involves estimating uncollectible accounts at eh end of each period. This provides better matching on the income statement.
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