0
A financial statement needs to be prepared for all large companies as part of the Accounting Standards. It is a legal requirement to do so. It will provide a record of the financial position of the company, from which calculations can be made (i.e. ratios) which can be compared to former years to analyse how the company is doing financially.
The result of these ratios can aid in the preparation of budgets. Certain budgets need to be increased, other may need to be decreased or removed. With budgets it is important to compare budgeted cost to actual cost and analyse the variations to determine the efficiency of operations for the specific department or item that the budget was allocated for.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the term for the annual statement detailing financial proposals for funding the policies of the nation?
(budget)
What Is the best term for the annual statement detailing financial proposals for funding the policies of the nation?
(budget)
What is master budget?
Master budget is the overall financial budget of company which includes budgets as follows:Sales BudgetProduction budgetSelling and administration budgetsCash budgetPro forma Income Statement & balance sheet etc.
What is a master budget?
Master budget is the overall financial budget of company which includes budgets as follows:Sales BudgetProduction budgetSelling and administration budgetsCash budgetPro forma Income Statement & balance sheet etc.
What office prepares a statement telling how the US government will distribute its financial resources over the next fiscal year?
office of management and budget
What is the difference between financial budget and a financial budget?
There is no difference between them.. Their difference only is how you understood about financial budget.. :)
What was the Production Budget for The Statement?
The Production Budget for The Statement was $27,000,000.
Definition of railway budget and how it originated in India?
A railway budget is the annual financial statement of state-owned Indian Railways. The Minister of Railways presents the statement to Parliament each year. The railway budget began in India in 1924 when the railway finances of India were separated from the general government finances.
Which of these offices repares a statement as to how the US government will distribute its financial resources over the next fiscal year?
office management and budget
Difference between cash budget and fund flow statement?
1. cash flow statement is a technique of past analysis where as cash budget is a technique of future financial forecasting.2. cash flow covers a period of 1 year. in cash budget it is broken into monthly weekly segments.3.cash flow does not emphasis on a particular source and use. cash budget emphasis on financial pattern to meet seasonal and temporary cash need.
Can you consider notes to financial statement to be a financial statement?
Notes to financial statement can be considered to be a financial statement since they report the details and additional information that are left out.
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
