Key points from ISA 200 (Overall objective of independent auditor and the conduct of an audit in accordance with ISAs

Double column cash book – meaning

Double columns cash book is the cash book that has two amount columns one for cash and another for discounts on each side. It is customary in business to allow discounts when payment is received from the customer promptly and before the due date. It is also customary for business to get a discount when the payment is made to … Read the rest