According to Investopedia, "statutory auditing" is when a company is required by law to ensure that it is being accurate in its accounting. This type of auditing is usually performed by an external organization, notes Cr... More »

As of 2014, a Class C felony is the third-most serious class of felony, which is punishable by a maximum of seven years in prison. Class C felonies include crimes such as theft, possession of a controlled substance, seco... More »

To fill out a W-2 form, start with the company and employee's basic information. Calculate wages, tips and other income, then fill in allotted boxes for taxes withheld. Finish by inputting employee status information. More »

The different fields of accounting include management accounting, government accounting, or auditing, public accounting and internal auditing. Accountants in these fields may be Certified Public Accountants, Certified Ma... More »

"Miscellaneous expense" is a general ledger account used for small expenses not recorded in other accounts, according to the accounting dictionary on Simplestudies. Accounting Coach notes that it is generally better to s... More »

The Sarbanes-Oxley Act, signed into law on July 30, 2002 by President George W. Bush, is aimed at protecting investors from corporations' fraudulent accounting practices while mandating strict reforms to financial disclo... More »

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A prior year adjustment in accounting is a correction of errors in a company's financial statements for the previous year. For example, if XYZ Limited reported a lower depreciation amount, an adjustment is made by debiti... More »