jhv©hgc cmsvXASCXSX
speelling
balance sheet refers to position of assets n liabilities @ end of s yr..but stt of affairs refers to transactions entered into by the comp. durin tat yr..generaaly stt. of affairs is prepared in absence of bal sheet (ie) if bal sheet cudn b prepared due to unavoidable circumstances or its prepared,but currently N/A
Bank reconciliation
The process is bank reconciliation.
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
similarities
speelling
balance sheet refers to position of assets n liabilities @ end of s yr..but stt of affairs refers to transactions entered into by the comp. durin tat yr..generaaly stt. of affairs is prepared in absence of bal sheet (ie) if bal sheet cudn b prepared due to unavoidable circumstances or its prepared,but currently N/A
Bank reconciliation
A balance sheet is a list that summarizes all financial information of a company. This includes liabilities (what the company owes) and assets (the company's economic resources). A statement of affairs, on the other hand, is specifically used by a debtor to show all of their assets and liabilities, usually for purposes of evaluating a case of bankruptcy.
The process is bank reconciliation.
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
Cash book is made before making Balance sheet because ash book balance is transfer to balance sheet but Cash flow statement is made after balance sheet. 2. Cash book is subsidiary book of accounts and cash flow statement is a Financial Statement.
The difference between adjusted and Un-adjusted trial balance is that in adjusted trial balance the items of balance sheet and income statement are randomly but in adjusted trial balance the items are in tabular form.
they both use questions when a researcher attempts to answer when she/he undertaking a research.
Difference between fund flow statement and balance sheet?Funds flow statement and balance sheet both are the statements of different nature. Funds flow statement is a statement summarizing the significant financial changes which occurred between the beginning and the end of a company's accounting period while balance sheet is a statement of assets and liabilities at a particular point of time. Here are some of the important differences between the two:Funds flow statement include only those items which causes changes in working capital while balance sheet includes the assets and liabilities of the company and shows total resources of the company.Funds flow statement can be used for decision making purpose while balance sheet is used for examining the financial soundness of the company.Funds flow statement is prepared for the use of internal management and hence its preparation is not mandatory, while balance sheet is for the use of external parties like creditors, shareholders, government and hence its preparation is mandatory for the company.Funds flow statement is prepared after preparation of balance sheet and for a relatively short period of time as compare to balance sheet."Hence it can be said that funds flow statement is not a substitute of balance sheet but it is a supplementary statement and hence they should both be used together in order to reach at right conclusion regarding the financial position of the company"
the difference between the beginning and the ending cash balance on balance sheet