Explain why, as part of internal controls, a company might want to use a data analytics tool
Question:
Explain why, as part of internal controls, a company might want to use a data analytics tool to review all journal entries that involve both a debit and credit to an expense account. Could there be a valid explanation for these entries? If so, what is it?
Step by Step Answer:
A company might want to use a data analytics tool to review all journal entries that involve b...View the full answer
Financial Accounting Tools For Business Decision Making
ISBN: 9781119594574
8th Canadian Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine, Christopher D. Burnley
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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