The Commercial Court has delivered an important judgement on the effectiveness of security assignments in complex corporate group structures, finding that an estoppel by convention can operate to ...
The Italian Parliament has converted into Law the Italian Law Decree No. 34 of 19 May 2020 (the "Rilancio Decree"). The law of conversion of the Rilancio Decree was published on the Italian Official ...
It is not uncommon that companies with cash flow problems or those that have a desire to be paid on expedited terms assign their accounts receivables as collateral for a secured loan or they factor ...
Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...
The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries. Processing Content The publication, Audit Focus: Journal ...
If your business extends credit to its customers, charging and collecting interest is well within your right. Most businesses with account receivables don't charge interest unless payment is really ...
Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...
The top-side journal entry is most susceptible to fraud by management override. It’s possible to make adjustments in subledgers, but this requires collusion with other organizational departments, ...
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