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Mezzanine level items would typically be items between Equity and Liability. Some items that might fall in this category are Auction Preferred Shares (in mutual funds) or noncontrolling interest in subsidiaries. As noncontrolling interest does not meet FASB definition for Liabilities and are not part of Equity.
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What are post balance sheet items?
Post balance sheet items are those items which arise after closing date of balance sheet that's why called post balance sheet items.
What is off balance sheet items?
Off balance sheet items means assets which is used by business but not shown in business like lease asset etc.
What is classified balance sheet?
Classified balance sheet shows items in classification like current assets, non-current assets etc.
Can you give examples of off balance sheet items?
off balance sheet items means: Important things relevant to the growth, survival of a company not able to disclosed in a balance sheet as balance sheet always in figures only. hence footnotes will be given called as notes on account. example: a balance sheet is prepared on 31st march. auditor certify balance sheet on june 30th but fire accident happened in the company on june 15th and total assets of the company destroyed. hence while certifying the balance sheet on june 30th, while giving the figures of values of assets of the company on 31st march, the AUDITOR SHOULD REPORT the loss of the assets and the drastic position happened to the company in the notes on account. otherwise the balance sheet gives wrong picture. like that off balance sheet items means: new opportunities grabbed by the co. new deals. new projects etc., which can not be disclosed in balance sheet.
The term inventory indicates what?
Inventories indicates the amount of resalable items in balance sheet.
What are post balance sheet items?
Post balance sheet items are those items which arise after closing date of balance sheet that's why called post balance sheet items.
Is there a difference between a merchandiser's balance sheet and a service company's balance sheet?
Yes in merchandiser balance sheet there is stock of items available in balance sheet while in services balance sheet there is no inventory item available.
What is off balance sheet items?
Off balance sheet items means assets which is used by business but not shown in business like lease asset etc.
What are the items calculated in balace sheet?
Following are items in balance sheet:1 - Assets2 - liabilities3 - Owner's equity or capital
Are loan commitments an off balance sheet items?
yes
What items on a company's balance sheet have no physical substance?
Intangible assets are items such as Copyrights, patents, goodwill, trademarks, etc. These would be classified as Intangible Assets on a company's balance sheet.
What is classified balance sheet?
Classified balance sheet shows items in classification like current assets, non-current assets etc.
How does the financial crisis impact the balance sheet?
Accounting Standards regarding off-balance sheet items are going to be tigtened in the forseeable future.
What are the reason where the balance sheet will not tally?
Balance sheet is the summary of Assets ,Liabalities , and profit or loss from Profit and loss account. following are the common reasons 1.As Purely based on nduble entry system For each ledger debits there should a equlent ledger credit on all transactions. 2. We can divide ledgers into Balance sheet items and Profil and loss account items. Balance sheet ledgers are ledger balances which directly reflects in Balance sheet Profit and Loss ledgers are ledgers which is reflecting only in Profit and loss account not in balance sheet. 3. Check the opening balance sheet, difference in opening balance sheet may the reason.
Can you give examples of off balance sheet items?
off balance sheet items means: Important things relevant to the growth, survival of a company not able to disclosed in a balance sheet as balance sheet always in figures only. hence footnotes will be given called as notes on account. example: a balance sheet is prepared on 31st march. auditor certify balance sheet on june 30th but fire accident happened in the company on june 15th and total assets of the company destroyed. hence while certifying the balance sheet on june 30th, while giving the figures of values of assets of the company on 31st march, the AUDITOR SHOULD REPORT the loss of the assets and the drastic position happened to the company in the notes on account. otherwise the balance sheet gives wrong picture. like that off balance sheet items means: new opportunities grabbed by the co. new deals. new projects etc., which can not be disclosed in balance sheet.
Why cash flow is made after balance sheet?
Cashflow statement is preferably prepared after the balance sheet because it becomes much more easier to pick cashflow items from the bal. sheet than from individual ledgers.
Extraordinary items on the balance sheet?
yes, right above or below discontinued operations
