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Historical financial statements. Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.
SAS 99 defines fraud as an intentional act that results in a material misstatement in financial statements. There are two types of fraud considered: misstatements arising from fraudulent financial reporting (e.g. falsification of accounting records) and misstatements arising from misappropriation of assets (e.g. theft of assets or fraudulent expenditures).
The decision of a posek is known as a psak halakha ("ruling of law"; pl. piskei halakha) or simply a "psak". Piskei halakha are generally recorded in the responsa literature. Orthodox Judaism