You cannot view this unit as you're not logged in yet.
Auditing for your Business
24 Minute Accounting

0 POINTS
Complete the units, enroll in new courses, answer survey questions
By gaining points, you can win a personalised one on one coaching session
Complete the course to see how your learning has improved and gain 10 points
Answer the questions in each unit to generate your custom action plan and gain points
Collect points to be able to ask an expert any question you may have
Module 1 | 24 minute Accounting | |
---|---|---|
Unit 1 | 24 Minute Accounting Pretest | |
Unit 2 | 24 minute Accounting Course Overview | |
Unit 3 | Accounting Department Structure | |
Unit 4 | Which Accounting System to Use? | |
Unit 5 | Accounting Concepts | |
Unit 6 | Double Entry Principle | |
Unit 7 | Accounting Cycle | |
Unit 8 | Chart of Accounts | |
Unit 9 | Recognition of Revenue | |
Unit 10 | Accounting for Inventories | |
Unit 11 | Accounting for Fixed Assets | |
Unit 12 | Income Statement | |
Unit 13 | Balance Sheet | |
Unit 14 | Auditing for your Business | |
Unit 15 | 24 minute Accounting Posttest |
Survey Questions
Hi, in this video you will learn about audits and the differences between Internal & External audits. Audits are official inspections of an organization's accounts, typically conducted by an independent body. Many large organizations also have their own Internal Audit departments. Audits are conducted to confirm that an organization is operating within the guidelines (standards) set by Accounting bodies that govern that organization. Audits are also conducted so as to ascertain that the financial results are presented fairly and that there is no fraud taking place in the organization. There are many differences between internal & external auditors. These can be split into three sections:
-
Appointment – Internal Auditors are company employees, whilst External Auditors are appointed by a Share holders’ vote and guided by the directors of the company.
-
Objectives – The objectives of Internal Auditors, is to examine issues related to company business practices and risks, whilst the objectives of External Auditors is to examine the financial records and issue an opinion on the financial statements of the company.
-
Responsibilities – The Internal Audit department is responsible to the company’s senior management, whereby External Auditors are held responsible to shareholders.