Kiting
Kiting refers to the fraudulent practice of inflating bank balances by exploiting timing differences between cheque deposits and withdrawals. It temporarily overstates available funds and is considered a serious accounting and auditing red flag. Detecting kiting requires careful bank reconciliation and cash-flow analysis.
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Knockdown Cost
Knockdown cost refers to the total landed cost of goods received in an unassembled form, including purchase price, freight, insurance,…
Kickoff Balance
A kickoff balance is the initial balance used when setting up a new accounting system or beginning a new financial…
Knowledge Process Outsourcing (KPO)
KPO involves outsourcing high-end analytical or financial services such as valuation, financial modeling, and risk management. In accounting, KPO providers…
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