So what does an audit do?
It is important not to confuse revenue with cash flow. Profit equals sales income minus expenditures. A business manager should never believe that sales revenue equals cash inflow which expenses equal cash outflows. In tracking sales income, money or any other asset is increased. The asset reports receivable is increased in recording income for product sales made on credit. Numerous costs are taped by lowering a secured item aside from cash. Including, price of items sold is recorded with a …
