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What 3 groups of people who will be interested in the financial statements of a sole trader?
Wiki User
∙ 11y ago
The trader himself, tax man and the bank
Wiki User
∙ 11y ago
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Why the investor need financial statement?
Investors are the people who are interested to invest their money in any company so they reruires the financial statements to assess that which company is potentially capable to provide them higher return and does company has the potentiall to return back their invested money.
How IFRS presentation and disclosure requirements can assist the predictive role of historically prepared financial statements?
Cmon people, someone should know this.
What is the purpose of financial accounting?
The purpose of financial accounting is to provide financial statements and financial reports to individuals who require them. This includes preparing a balance sheet, income statement, cash flow and notes. People that use this information usually have an interest in the company due to investment or ownership.
Why is general accepted accounting principles important?
GAAP accounting insures that financial statements can be relied upon by people outside the company such as banks and investors. It allows them to assume that the Balance Sheet and Income Statment have been prepared in a logical and accurate fashion and can be relied upon to make decisions about the company's financial position.
Differentiate accounting and bookkeeping?
Accounting is a broader term of book-keeping. Book-keeping helps in the day to day operations and for preparing financial statements of an enterprise. Accounting relates to the internal control of the business, detecting errors in recording entries and gives financial reports of the values and performance of the business to the management and to other people like the shareholders.
Who are the people that are interested in the financial statements of a business?
the people who are interested in the business financial statement are : -- the BIR -- the business's prospective investors -- the management -- the owner of the company/business hope this answer helps you
Why the investor need financial statement?
Investors are the people who are interested to invest their money in any company so they reruires the financial statements to assess that which company is potentially capable to provide them higher return and does company has the potentiall to return back their invested money.
Why is it necessary to prepare the formal financial statements if all the data are on the adjusted trail balance?
Yes! The adjusted trial balance is the first step in preparing the financial statements. As that is done, completing the financial statements are relatively easy. The trial on it's own is difficult for people to understand.
What does financial services do?
Financial services are provided by the finance industry to provide economic help to customers. They allow people to analyze their financial statements, save, invest, or take out loans.
Which groups were chosen for extermination by the Nazis on the racial grounds?
The Nazis were interested in exterminating groups that they felt were inferior. Jews, disabled people, Slavic people, and gypsies were the groups that were exterminated on racial grounds.
How IFRS presentation and disclosure requirements can assist the predictive role of historically prepared financial statements?
Cmon people, someone should know this.
What is the purpose of financial accounting?
The purpose of financial accounting is to provide financial statements and financial reports to individuals who require them. This includes preparing a balance sheet, income statement, cash flow and notes. People that use this information usually have an interest in the company due to investment or ownership.
What are barth syndrome's special interested groups?
if you want people to come on this website to ask questions, then answer them with real answers!!!!!
Why flamingos live in the zoo?
i'm not exactly sure why... maybe people are interested in them? also, they do live in groups, and in areas with water. i mean why not?! lol.
Can people influence the stock market?
People can influence the stock market thru Investor confidence, company financial health and statements, political factors, and the current state of the economy all affect the stock market
Who are external users of a company's financial statements and why do they need information from this financial statements?
investors,state It is everyone! But more so, people who would like to make an informed decision (In terms of purchasing shares). Hence through the use of financial statements, managed by accounting standards and external government bodies they can ascertain whether a company is making a loss/profit etc and whether they should invest in the company or not. In short to protect members and manage public interest.
How do you start a book club?
You can start a group on Yahoo groups or something similar. That sometimes gets people to join. If you are working at a place or going to a church or school where many people are interested, you could get people together. You could also start an online group on an online social networking place, and people who are interested can join.
