Auditing Theory and PracticeRonald Press Company, 1927 - 859 էջ |
Common terms and phrases
accepted accounting practice accounts receivable accrued actual adjustment allowances amount appear appraisal arising ascertain balance-sheet audit bank bankers basis bonds book value capital stock capital surplus cash cent certificate charges client concern contingent liabilities contracts controlling account corporation creditors current assets current liabilities customers deducted deposit depreciation detailed disclose discounts dividends earned surplus examination excess expenses fact fixed assets funds goodwill gross income holding company included income account indorsements interest inventory investment invoices issued ledger loans loss manufacturing ment method mortgage net income notes receivable operations outstanding paid par value payable payment period plant possible preferred stock professional auditor profits proper provision purchase quantities reason records reserve rule securities selling sheet shown sold statement stockholders subsidiary surplus account taxes term tion transactions treasury stock trial balance unless usually valuation verify
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Էջ 676 - In the case of tangible property, it applies to that which is subject to wear and tear, to decay or decline from natural causes, to exhaustion, and to obsolescence...
Էջ 359 - Income may be defined as the gain derived from capital, from labor, or from both combined," provided it be understood to include profit gained through a sale or conversion of capital assets, to which it was applied in the Doyle Case (pp.
Էջ 359 - Whatever difficulty there may be about a precise and scientific definition of "income," it imports, as used here, something entirely distinct from principal or capital either as a subject of taxation or as a measure of the tax; conveying rather the idea of gain or increase arising from corporate activities. As was said in Stratton's Independence v. Howbert, 231 US 399, 415: "Income may be defined as the gain derived from capital, from labor, or from both combined.
Էջ 419 - Every company shall at each annual general meeting appoint an auditor or auditors to hold office until the next annual general meeting.
Էջ 420 - The first auditors of the company may be appointed by the directors before the statutory meeting, and if so appointed shall hold office until the first annual general meeting, unless previously removed by a resolution of the shareholders in general meeting, in which case the shareholders at that meeting may appoint auditors.
Էջ 687 - The Commission shall, as soon as practicable, prescribe, for carriers subject to this Act, the classes of property for which depreciation charges may properly be included under operating expenses, and the percentages of depreciation which shall be charged with respect to each of such classes of property, classifying the carriers as it may deem proper for this purpose.
Էջ 474 - Forgery is the false making or materially altering with intent to defraud of any writing, which, if genuine, might apparently be of legal efficacy, or the foundation of a legal liability.
Էջ 419 - Trade may, on the application of not less than five members of the Company, appoint an auditor for the current year, and fix the remuneration to be paid to him by the Company for his services.
Էջ 16 - In all those employments where peculiar skill is requisite, if one offers his services, he is understood as holding himself out to the public as possessing the degree of skill commonly possessed by others in the same employment, and, if his pretentions are unfounded, he commits a species of fraud upon every man who employs him in reliance on his public profession.
Էջ 420 - The directors of a company may fill any casual vacancy in the office of auditor, but while any such vacancy continues the surviving or continuing auditor or auditors, if any, may act.