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Which basic assumption is illustrated when a firm reports financial results on an annual basis?
Wiki User
∙ 10y ago
Periodicity assumption.
Wiki User
∙ 10y ago
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Which basic assumption may not be followed when a firm in bankruptcy reports financial results?
Going concern assumption.
What are principle accounting reports involved in financial reporting in general terms what is the purpose of these reports?
The results of the accounting process are the 5 core financial sections: Balance sheet Income statement Statement of changes in equity Statement of cash flows Notes to the financial statements.
Characteristics of formal report?
Formal reports identify individuals that are being addressed by the report. Many formal reports explain the decision process and the results.
What is the definition of financial forecasting?
Financial forcasting is the prediction of how something will happen. It is also the results of operations and cash flows based on the expected conditions.
Does The cash basis of accounting commonly results in financial statements that are not comparable from period to period?
Cash is the main transaction in an accounting , it will affect from period to period in financial statement
Which basic assumption may not be followed when a firm in bankruptcy reports financial results?
Going concern assumption.
What is it called when a firm issues periodic reports?
periodic reports of a firm's financial position or operating results.
What are the purposes of government financial reports?
They can be used to compare actual financial results against the legally adopted budget; assess financial condition and results of operations; assist in determining compliance with finance-related laws, rules, and regulations
What are principle accounting reports involved in financial reporting in general terms what is the purpose of these reports?
The results of the accounting process are the 5 core financial sections: Balance sheet Income statement Statement of changes in equity Statement of cash flows Notes to the financial statements.
Assumption that experimental results are due to chance alone is called?
null
What is one of the reports that is generated in atrrs is the?
class testing results
Difference between cost accounting and financial accouting?
Cost Accounting is Management Accounting which is about internal planning, budgeting, cost analysis, and control. Management is accountable, to various stakeholders of the company for being productive and maximizing return on owner investment whilst obeying laws and paying taxes.Financial accounting satisfies Managements accountability to external users of the company's financial reports that report on the company as a whole. Reports must be produced in accordance with GAAP ( reports that show results of operations, financial position, and cash flows). Such as owners and creditors, regulatory agencies such as the SEC and the IRS, and customers.
What is the objective of financial controller in a company?
Accurately report the financial results of the company's operations in acordance with generally accepted standards. Produce reports for management which help then analyze and better understand what is going on in the company operations. Help produce company budgets and report spending and revenue against the budgeted numbers.
What is GM Financial Status?
As of my last update, GM Financial reported a solid financial status. The company has consistently delivered positive financial results, including strong earnings and growth in their global operations. However, it is always recommended to refer to the most recent financial reports or statements from GM Financial for the most accurate and up-to-date information on their financial status.
What legislation most affects the quality of laboratory results and reports?
Clia
OSHA-ct what are your rights with regard to the review of medical records test results and accidentillness reports?
Under the OSHAct, what are your rights with regard to the review of medical records, test results, and accident/illness reports?
What are your rights with regard to the review of medical records test results and accidentillness reports Under the OSHAct?
Under the OSHAct, what are your rights with regard to the review of medical records, test results, and accident/illness reports?
