The Accounting Review Vol. 26 No. 2 1951
REPORT ON EXAMINATION OF RECORDS.
Abstract
This article focuses on the report on examination of records of American Accounting Association. In accordance with an arrangement made with your Secretary-Treasurer have examined the balance sheet of the American Accounting Association as of December 31, 1950, and the income statement and the net worth account of the general fund and of the membership fund for the fiscal year ended on that date. Accounting procedures of the organization has been reviewed, and without making a detailed audit of the transactions, it examined and tested the accounting records and other supporting evidence by methods and to the extent we deemed appropriate. Examination was made in accordance with generally accepted auditing standards applicable in the circumstances and included all procedures that we considered necessary. The receivables were not confirmed by direct correspondence. It has found that records have been kept very conservatively: Inventories of Association publications have not been set up on the books, but all costs have been consistently charged to operations in the year of printing. Fixed assets, also, have been charged to expense when acquired.
- DOI
- 10.2308/tar-7071204
- Volume
- 26
- Issue
- 2
- Pages
- 255-258
- Language
- en
- Sources
- openalex crossref