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Income statement.
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∙ 12y ago
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What is the order that the financial statements should be prepared?
the income statement is first, followed by the the statement of owner or stockholder's equity balance sheet, and last the cash flow statement.
How is the balance sheet linked to the other financial statement?
balance sheet is linked to financial statements as both statement are prepared for business authenticity, and are also link to each other because it is government requirements.
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is the responsibility of independent auditors?
The primary objective of independent auditors are rendering opinion report on the financial statement that is the responsibility of client management. The main reason auditors need to be independent are to provide credentional for the client prepared financial statements. Therefore, the users (Bankers, Investers and third party) of the financial statement can have unbiased information about the client financial Statements.
What comes first in the four financial statements?
its the income statement don't know why???
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.
What is the order that the financial statements should be prepared?
the income statement is first, followed by the the statement of owner or stockholder's equity balance sheet, and last the cash flow statement.
What statement is prepared first?
Income statement.
What order are financial statement prepared?
Income Statement, Retained Earnings Statement, Statement of Equity, Balance Sheet, and then Statement of Cash Flows.
WHAT IS YTD?
YTD (accounting year to date) revenue is the amount of money earned from the beginning of the financial year until the date the financial statement was prepared.
What financial statement is prepared first in accounting?
for a manufacturing concern it will be a manufacturing account and for a non manufacturing concern it will be a trading account or a profit and loss account or income and expenditure account.
What are the four financial statements explain their basic content and why it is important that the statements are prepared?
balance sheet,income statement,cash flow statement,retained earnings
What is ytd revenue?
YTD (accounting year to date) revenue is the amount of money earned from the beginning of the financial year until the date the financial statement was prepared.
Is it a true Statement of Financial Accounting Standards is the official guideline for accounting procedures that is prepared and maintained by the Internal Revenue Service?
No
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.
How is the balance sheet linked to the other financial statement?
balance sheet is linked to financial statements as both statement are prepared for business authenticity, and are also link to each other because it is government requirements.
How often are financial statement prepared?
Every financial year. Sometimes a company may shorten or increase their financial year for various reasons so it wouldn't be correct to say every calendar year.
