Audit
A systematic review or examination of the assertions or actions of a third party to evaluate conformance to some norm or benchmark.

Accounts Payable
Amounts that a business owes

Receipt
A written record of a transaction.

Net Income
Gross income less expenses; it represents a business's profit for a given year.

Adult Protective Services (APS
Adult Protective Services includes the 24-hour, 365 days a year access to assistance and/or referral with reports of physical, sexual or emotional abuse, neglect by caretaker, self-neglect, exploitation and abandonment.

Statement
A formal written summary of outstanding invoices.

Invoice
A written record of a transaction, often submitted to a customer or client when requesting payment.

Account
A collection of financial information grouped according to customer or purpose.

Accrual Method Of Accounting
In the context of a financial audit, audit findings represent weaknesses or deficiencies in internal controls, or instances of noncompliance with applicable laws and regulations, that are presented in an audit report.

Accounting
term that refers to the overall process of tracking your business's income and expenses, and then using these numbers in various calculations and formulas to answer specific questions about the financial and tax status of the business.