In accounting system, and finance management when is the right time to make an audit and to ascertain the profit and loss in a running business?

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Konain Abbas Khan
12-September-2013

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Question added by philip Kipkorir. langat , SENIOR CLERICAL OFFICER , Kenya Agricultural Research Institute
Date Posted: 2014/02/01

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by Mudassar Mudassar , Proprietor , S & M Tax Accountants

The right time to make an audit is when each transaction is being put into the accounting system for recording purpose. The right time to ascertain the profit or loss is a running business is monthly or quarterly basis, so that you can plan for and initiate the right decisions on time.

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