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What financial statement is most likely to provide information about a company ability to repay debt?
Statement of financial position (Balance sheet)
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What financial statement is most likely to provide information about a company's ability to repay debt?
Statement of financial position (Balance sheet)
What is the difference between balance sheet and financial statement if there is any........?
Balance Sheet: Balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..
What is a consolidated financial statement?
it is combined statement of parent company and subsidary company
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
A combined financial statement of a parent company and its subsidiaries is called?
a consolidated financial statement
WHAT IS THE PRIMARY FINANCIAL STATEMENT WITH WHICH WE COMMUNICATE FINANCIAL ACCOUNTING INFORMATION?
The primary financial statement used to communicate financial accounting information is the income statement, also known as the profit and loss statement. It provides a summary of a company's revenues, expenses, and profits or losses over a specific period, allowing stakeholders to assess the organization's financial performance. Other key financial statements include the balance sheet and cash flow statement, but the income statement is central to evaluating operational success.
What is the difference between consolidated and parent company statements?
Comparative financial statements compares one set of financial statement with another set of financial statements while consolidated financial statement is prepared where in company there is parent and child company relationship exists to join the financial statements of parent and child company as a single financial statements.
What is the financial account?
Financial Accountong is tha process of recording information of the Day to Day runing of an organisation for tranparency. or it si the sharing of information to people outside the company or organisation.
What is a financial statement?
it is combined statement of parent company and subsidary company
How do you use statement in a sentence?
A statement is a sentence that conveys information or opinion. In writing, you can use a statement to make a point or provide a fact. For example, "Her statement about the company's financial situation was concerning."
What financial statement summarizes a company's earnings?
The financial statement that summarizes a company's earnings is the income statement, also known as the profit and loss statement. It provides an overview of revenue, expenses, and profits or losses over a specific period. The income statement allows stakeholders to assess the company's financial performance and profitability.
Why are companies required to prepare a statement of cash flows and what is its significance in financial reporting?
Companies are required to prepare a statement of cash flows to show how cash is generated and used in their operations. This statement is significant in financial reporting because it provides insights into a company's liquidity, operating activities, and ability to meet financial obligations.
