Financial Statements
A financial statement is a record of the financial activities of a person or business entity where all related financial information are presented in an orderly manner and can be easily understood.
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ModanskiCost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents...
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unpaid expenses (a.k.a payables) are recorded on the balance sheet in the current liabilities section.
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a revaluation reserve is an increase in the value of fixed assets.for example,if a building was valued at £900,000 in 2007,and...
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for VAT on sales:Debit ReceivablesCredit VATCredit Salesfor VAT on purchases:Debit VATDebit PurchasesCredit Payables
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It is the lowest return on project or investment that will make the firm or investor to accept that project.
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Margin is a line of credit issued to an investor typically from a brokerage firm using other investments held in the account as...
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This question cannot be answered because some of the budget for national security is not made public. It is kept secret from all...
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Higher budgets, in real terms, create a unit that is expected to produce higher profits. Lower budgets, in real terms, create a...
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This transaction would not appear on the statement of cash flows because it is a non-cash transaction. The statement of cash...
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Digital Printing for Personalized Financial Statements The development of variable data printing using digital print...
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Gross profit or gross margin is equal to: Sales less: Costs of Goods Sold
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Commonly, financial statements consist of the BALANCE SHEET, INCOME STATEMENT, STATEMENT OF STOCKHOLDERS EQUITY and the CASH FLOW...
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Broadcast cash flow (BCF) is a financial metric for Broadcasting companies. It may be defined as follows: Operating income ...
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The word 'contribution' has several distinct uses: 1: act of giving in common with others for a common purpose especially to a...
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Assets which can be converted in the form of money. funds in addition to cash items such as bills & notes , govt. obligations...
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Mr.Bharat Goenka, Managing Director of M/s.Tally Solutions Pvt Ltd
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A risk factor related to the family's inability to provide sufficient financial resources to meet minimum needs
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Sales revenues are the funds you raise through sales.
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Inventory can be valued in many different ways but there are 3 popular methods. One is called FIFO (first in first out), another...
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The term 'cash flow' means the excess of cash revenues over cash outlays in a give period of time (not including non-cash...
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I think you could use "firmly" as an alternative to strongly. Or depending on the use, "soundly" could also be used.
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It is a documentary evidence for the completion of a Transaction against which the payment is made by the buyer and keeps that...
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Accrued income tax (Income Tax Payable) is a current liability. When the tax is actually paid it is reported on the income...
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I think Delloite PWC KPMG E&Y Every year the top audit firmhas elected as their revenue and for 2008 the PWC,Deloitte...
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Cash flow per Share is sometimes reported in the financial press. It is not to be reported on the financial statements.
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Positive assurance - An affirmative statement or opinion given by the auditor, generally based on a high level of work performed....
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bill wise detail (on account)
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1. (a) How would you analyse the financial position of a company from the point of view of an: (i)...
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As a selling expense.
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what r the uses of fundflow statement
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'Financial' means involving financial matters
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a regular cash flow is money that goes into the business that can be predicted, for example, income, loan to business. Bacically...
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Difference between internal check and internal audit.Following are the main differences between internal check system and...
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When a business expands by introducing a new shareholder
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Contingent Liability is not shown at the face of balance sheet but shown as a notes to financial statements as a note about the...
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In economics and business decision-making, sunk costs are costs that cannot be recovered once they have been incurred. Sunk costs...
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There are several depending on the size of the company and benefits offered, of course. You will have to make additions to your...
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when petty cash falls under the accounts payable umbrella, what guidlines should be set?
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it will make it even worse balance
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The effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or...
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Sales Revenue is your Net sales minus your Cost of goods sold.
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We all know that if the Gross Profit is shrinking, then some expense is going to have to be reduced in order to see a better...
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A Chart of Accounts is more than a list of General Ledger Accounts. A functing Chart of Accounts is: (1) the center of the...
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Which of the following would increase the need for external equity?
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Supplies Expense
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The English term 'accounting' has several senses: 1: the occupation of maintaining and auditing records and preparing financial...
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If there is a joint venture between two companies. Each of the companies, under the equity method, only records half of the...
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Get another job to increase income. Manage your receipts better and calculate your expenses efficiently. Use a BillBandit. ...
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Dr. Unrealized loss on investment in Company B (P&L) Cr. Investment in Company B (B/S)
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A simple equation would be, Sales - Cost of sales (opening stock+purchases-closing stock)
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The difference between the Actual Value & Earned Value is the Project Cost Variance
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tally first version is 3.0
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consumer credit can be costly because when you used someone else money you have to pay interest
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Retained cash flow is the cash generated from operation which can be used for reinvestment. So basically it is cash from...
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An asset is put on the balance sheet to show an identified estate of an enterprise at bookvalue. Examples of assets: cash,...
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Accountants use net relizable value in evaluation; as it is more prudent, it takes into account the depreciation of an asset....
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selling expense
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for trading business interest expense is always non-operating expense because of that "the person who use trading business is...
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Define_the_cost_of_control_and_minority_interest
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Problem 21.3 Super Sonics Entertainment is considering borrowing money at 11 percent and purchasing a machine that costs...
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It doesn't. Gross profit is the of a company is the profit it receives for the product or service produced after the cost of that...
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Technically yes, but the more important question is Why? Any silver U.S. dollar coin would be dated 1935 or earlier and is worth...
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interest expense is deducted from EBITA (Earnings before interest and tax). This is in the income statement. Note that interest...
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expenses
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Contact that company. If the company is of public domain (such as Wal-Mart) then they are required to provide financial...
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if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability...
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People prefer predictability as a stable earning trend would mean that he or she could make future plans that have a good chance...
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The money gets transferred to the account number you mentioned. That is what happens.
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You cannot. You can build/compose the total GP from annual sales but you cannot decompose it if the individual annual information...
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Depreciation Expense reduces net income and has no effect on cash flow.
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The Chart of Accounts is the system of accounts that make up the General Ledger. This begins with our assets starting with the...
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the total assets figure
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No, though it is unusual. Showing the expiration date of a credit card on a receipt really won't affect much. However, if you...
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distortions
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horizontal analysis
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Liabilities are debts owed to an outside party (creditor) such as a bank loan, a truck note, etc. Expenses are the cost of...
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Generally, if you have NET income after deductions and losses, you pay tax.
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no, it only accepts it once we take up fair values not the fair market values bcz somtimes market under value a perticular asset
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A Balance Sheet
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The statement of cash flows is the summary of the major cash receipts and and cash payments for a period such as a month or year....
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That depends on what sort of business you are running.
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No reserves s part of the capital of the company. Reserves are funds help back by the company to do other things in the furture....
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The main three methods uses are Straight-Line Method Declining Balance Method Double Declining Balance Method The Straight...
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Depending on the size of the loan and/or the payment methods the following entry would be made to the journal. Cash will be...
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Auditing the financial statements of a business is a tedious process, the further the auditor wants to go back, the more...
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There are several reports used in accounting and that the accounting department will provide, these may include, but or not...
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Current Liabilities are liabilities that will become due in a short period of time (usually one year or less) that are to be paid...
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All revenue and expense accounts should be closed to the income summary account, as shown: Revenue ...
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Operating Expenses are the cost of doing business and are paid out of the company's cash or in some cases paid with Bonds,...
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Depreciation is the reduction in value of real assets, such as a motor vehicle, buildings, plant and machinery. The principle...
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. Hiran, a retailer, has prepared the following balance sheets for the years ending 31st March 2004 and 2005: Balance...
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why do consolidated financial statements become increasingly important when the purchase differential is very large
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