ch. 13 part 2

An evaluation of the effectiveness and efficiency of various systems within an organization.

An evaluation conducted by one organization, such as a CPA firm, on another.

A periodic assessment of a company's own planning, organizing, leading, and controlling processes.

The process of investigatin what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences; also called budgetary controlling.

Procedures used to verify accounting reports and statements.

A method of cost accounting designed to identify streams of a activity and then to allocate costs across particular business processes according to the amount of time employees devote to partivular activities.

A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

The values of the various items the corporation owns.

The amounts a corporation owes to various creditors.