What is Internal Auditing?

Internal auditing has become a more integral part of any public company thanks to the recently enacted Sarbanes-Oxley regulations. Internal auditing covers the quality control procedures performed in-house, rather than an independent audit handled by a third-party accounting firm. An internal auditor is not given the authority to make any changes, but they will advise [...]

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Depreciating Fixed Assets

There are three primary methods for depreciating fixed assets: straight line, units-of-production, and double declining balance. Regardless of the method used, there are three things you must find out before you can depreciate any fixed asset. Of course, you have to know the initial cost of the fixed asset so you have a starting value [...]

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