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What is the international standard of reporting called?
IFRS-International Financial Reporting Standard.
What is consolidating financial statements?
hen a large company acquire one or more small companies then acquiring company is called the parent company and acquired companies are called subsidiary companies so when the financial statements of parent company and subsidiary companies are prepared in one financial statement altogether those financial statements are called consolidated financial statements.
Where can I find the dividends per share information on financial statements?
You can find the dividends per share information on financial statements in the section called "Statement of Changes in Equity" or in the notes to the financial statements.
What areinancial statements in which financial data for two or more companies are combined as a single entity called?
consolidated statements
What is international standard called?
ISO (International Organization for Standardization)
Updating accrual accounting records prior to preparing financial statements is called?
closing process
Statement of cash flows?
In financial accounting, a cash flow statement or statement of cash flows is a financial statement that shows a company's flow of cash. The money coming into the business is called cash inflow, and money going out from the business is called cash outflow. The statement shows how changes in balance sheet and income accounts affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. As an analytical tool, the statement of cash flows is useful in determining the short-term viability of a company, particularly its ability to pay bills. International Accounting Standard 7 (IAS 7), is the International Accounting Standard that deals with cash flow statements. In financial accounting, a cash flow statement or statement of cash flows is a financial statement that shows a company's flow of cash. The money coming into the business is called cash inflow, and money going out from the business is called cash outflow. The statement shows how changes in balance sheet and income accounts affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. As an analytical tool, the statement of cash flows is useful in determining the short-term viability of a company, particularly its ability to pay bills. International Accounting Standard 7 (IAS 7), is the International Accounting Standard that deals with cash flow statements.
What is the primary objective of financial accounting?
its primary objective is to provide external reports called financial statements to help users analyze an organization's activities.
The accounting principle that requires financial statements to report all relevant information about the operations and financial condition of a company is called?
Full Disclosure Principle
The percentage analysis of increases and decreases in individual items in comparative financial statements is called?
horizontal analysis
The accounting system that reveals the financial position of a business is?
The accounting system that reveals the financial position of a business is financial accounting. Financial accounting produces statements called the balance sheet, and profit statement. These two statements allow for further calculations to see how the business is handling cash flows, account receivables, financial leverage, etc.
What is a unconsolidated balance sheet?
When there is parent subsidiary relationship exists and in that case if separate financial statements are prepared by both parent and subsidiary company those statements are called unconsolidated statements.
