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Off balance sheet items means assets which is used by business but not shown in business like lease asset etc.
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∙ 9y ago
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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.
Difference between on balance sheet financing and off balance sheet financing?
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
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.
What are the two items listed on a off balance sheet?
1: Contingent liabilities such as a Letter of Credit. 2: Bank Guarantees.
Is bond a on balance sheet or off balance sheet item?
A bond is a liability that is recorded on the balance sheet as part of long term liabilities.
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.
Are loan commitments an off balance sheet items?
yes
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.
Is Loan on balance sheet or off balance sheet?
Loan is on balance sheet
Difference between on balance sheet financing and off balance sheet financing?
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
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.
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.
Off balance sheet activities?
Off balance sheet activities are those activities which do not show any impact on balance sheet like operating lease in which company uses the assets but not shown in balance sheet.
What are the two items listed on a off balance sheet?
1: Contingent liabilities such as a Letter of Credit. 2: Bank Guarantees.
What are the items calculated in balace sheet?
Following are items in balance sheet:1 - Assets2 - liabilities3 - Owner's equity or capital
Is bond a on balance sheet or off balance sheet item?
A bond is a liability that is recorded on the balance sheet as part of long term liabilities.
What are the off balance sheet financing?
Off balance sheet financing means those agreement due to which asset is used by business but no affect on balance sheet like operating lease.
