Cash is the main transaction in an accounting , it will affect from period to period in financial statement
Fiscal year
what are the problems that a company experiencing a period of severe financial difficulties?
Financial period start 1st april and end in the 31st march of next year. in the end of year find out profit and loss. some industries have long financial period it's depend up on the industies work period
financial comparison statement is a statement showing the trend in which financial figures are changing between two accounting period.
What is finacial report measures results for a period of time?
financial comparison statement is a statement showing the trend in which financial figures are changing between two accounting period.
An entrepreneur of the colonial period was a merchant who took financial risks to invest in colonization.
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A business needs to be consistent in the fiscal period it uses for financial reports for purposes of comparison and accuracy. If the fiscal period changes, then it is difficult to compare the business's performance across different periods.
Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du
Financial budgets identify sources and outflows of funds for the budgeted operations and the expected operating results for the period.