ticking and tying

Definition

The tedious audit procedure of tracing numbers from one document to another and reconciling totals, involving literal tick marks on paper. It's as exciting as it sounds and explains why auditors develop that distinctive glazed expression.

Example Usage

I spent six hours ticking and tying invoice amounts to the general ledger, questioning all my life choices.

Origin

Traditional audit practice from manual paper-based audits, where physical tick marks indicated verification

Fun Fact

Despite decades of audit automation software, ticking and tying remains a rite of passage for first-year auditors, ensuring they understand why they went to college.

Source: Auditing procedures and public accounting terminology

Related Terms

Beginner

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Another term for deferred revenue—cash received for work not yet performed, sitting on the balance sheet as a liability. It's having money in hand while owing labor, the service industry's constant state.

💰 Finance / Accounting

Intermediate

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A solemn promise with actual consequences, ranging from fraternity hazing rituals to legal guarantees securing debt repayment. In finance, it's collateral you offer up to convince someone you're good for the money; in Greek life, it's the person who hasn't earned their letters yet and does all the grunt work. Either way, someone's on the hook for something.

💰 Finance / Accounting

Intermediate

hard close

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💰 Finance / Accounting

Intermediate

buyout

When one party acquires a controlling stake in a company by purchasing enough shares to tell everyone else to pack their desk plants. It's the corporate equivalent of buying out your roommate's lease, except with more lawyers, bigger numbers, and significantly less drama about who gets the couch. Can be friendly (management buyout) or hostile (surprise, you work for someone else now).

💰 Finance / Accounting

Advanced

embedded option

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💰 Finance / Accounting

Intermediate

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💰 Finance / Accounting

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