Accounting Laws Memo

1NameUnit nameUnit codeDateAccounting rules and lawfulnesss in Puerto RicoAssuming a retail line of merchandise is started which deal with concern and repair of furniture , thither ar various laws which mustiness be adhered to failure to which a fine will be imposed or corroboration of incorporation may be revoked . Corporation which ar found in Puerto Rico ar required by law to annually submit a monetary motif to the post of department of take . such report should be submitted not later than 15th twenty-four hour plosive consonant of April . In growth the report should bear proper corroboration i .e should be sign by the president or vice-president of the alliance and the treasure or assistant treasurer . The pecuniary avouchment submitted should be watchful in accordance to the worldwide acceptable business blood belief fork jaunt the fiscal determine of the business at the end of the period .

In addition this financial report should be audited by certified man accountant who should restrain his opinion on whether the financial avowal give a true and comme il faut spot and if they are nimble in accordance with the general acceptable accounting principle . The auditor should also state whether accounting policies pick up been consistently appliedThe auditing of financial statement is done to hear that the lodge does not under theme or over direct it profit with a view to defraud the government or shareholder i .e . to ensure that the financial statement delegate a true and plum view of financial cognitive process of the business2Auditing is also...If you want to shoot a full essay, cast it on our website: Orderessay

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