Can someone give me an in depth answer the difference between an Auditor and an Accountant?

Answer 1

An auditor is a type of accountant. There are several types of accountants - tax accountants prepare tax returns and do tax and estate planning for clients, industry accountants will generally keep the books of a company - that is, simplistically speaking, any time the company performs a financial transaction, an entry is made to record the effects of that financial transaction on the company. These books are used to prepare a company's financial statements, which these accountants also may do.

Auditors essentially check the work of these two types of accountants. A tax auditor (ie IRS auditor, state tax board auditor) can request the documentation that supports a tax return that was filed with the federal or state agency, so they can examine it and gain comfort that the return is technically correct.

Another type of auditor (which generally works at a public accounting firm) is one that a company will hire to test the balances of the accounts that were booked by that company's accountants. These balances are tested by, among other things, performing analytical procedures, vouching transactions back to source documents (invoices, receipts, contracts, etc), and confirming balances with outside sources (ie banks, customers that owe the company money) to provide comfort that the financial statements prepared by the company are free of material misstatement. Companies whose stocks are traded on a public exchange are required to get their financial statements audited, so investors can have comfort in the numbers presented in the annual report.

Answer 2

There is no difference between an auditor and an accountant. Accountants are auditors....understand that auditing is a function of reveiwing any type of books or records to determine a specific result. There can be forensic auditors that look for fraudulant activities. There are auditors that determine if the books and records are being maintained by a specific set of guidelines. As the individual answered before...and more specific.. one of the functions an accountant offers is the attestation function which basically certifies that the books and records or more appropriately the company financial statements are presented in accordance with GAAP or generally accepted accounting procedures. In short...the financial statements us the same method of valuation, measurements, classification etc to make them comparable. The auditing function applies procedures and test to the books and records to determing if the desired result of GAAP financial statements is attained.

Answer 3

Accountant does the books, auditor, who is also an accountant, checks for irregularities, and checks for generally accepted accounting principles.

Answer 4

i'm not attentive to your specific bankruptcy 2 yet i'm able to describe this. Radiation from a warm floor is emitted as electromagnetic radiation. The frequency and wavelength of the sunshine given off are based on temperature and what the exterior is made up of. intensity is a level of potential according to unit section. Say a superb form of the radiation is in the IR (that's genuine for a superb form of the thermal radiation at generic temperatures). That determines the frequency and wavelength. The intensity is how lots of that IR potential is coming off. IR thermometers degree the intensity of one or 2 specific wavelengths in the IR spectrum and, if calibrated for the emissivity of the exterior, furnish a correct measurement of the temperature of the exterior. It should be corrected for emissivity because of the fact diverse components supply off IR potential in yet differently. some matls supply it off truthfully so they don't would desire to be very heat to furnish off a undeniable intensity. different matls will would desire to be at greater temperature to furnish off the comparable intensity. wish this facilitates.