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However, knowing what these assertions are and what an auditor will be looking for during the audit process can go a long way toward being better prepared for one. For example, accounts payable notes payable and interest payable are all considered payables, but they are all very separate entities and should be reported as such. […]
Rent Receivables represent a total of all debts which the landlord has earned from the rental property but which have not been remitted by the tenant as of the time the balance sheet was prepared. From the landlord’s perspective, accrued rent is an asset as it represents revenue that is yet to be paid. Accrued […]
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AI could be beneficial when it comes to managing financial portfolios and providing advice. For example, financial advisors could use AI tools to detect anomalies and trends in customer financial data. These insights could then be used to adjust portfolios accordingly, averting financial risk. To deliver the level of service and access customers expect, banks […]
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