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Horngren'S Financial And Managerial Accounting
Found in: Page 1463

Short Answer

What are post-audits? When are they conducted?

A post-audit compares the real capital investment comes out with the expected results which should be achieved on a standard basis.

See the step by step solution

Step by Step Solution

Step 1: Meaning of Post-Audits

A post-audit is supposed to compare the results of actual capital speculation with those anticipated. Companies can use the comparisons to see if their speculation is performing as anticipated and should be supported, or if they should end the project and offer assets.

Step 2: When post-audit conducted.

Post-audits should be attempted regularly all through the project's life cycle, not as it were at the conclusion. Managers can make changes to projects over their life expectancy much obliged to intermediate post-audits. Managers moreover use post-audit input to make strides and forecasts for future projects. Managers will be more slanted to supply practical gauges with their capital investment demands in case they anticipate scheduling post-audits.

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