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What type of account is asset account?
An asset account is a "balance sheet" account. That is, when financial reports are created, the balances in asset accounts are reported on the balance sheet*, together with the balances in liability accounts and shareholders' equity accounts, and not on the income statement (which reports only revenues and expenses for the period of time ending on the balance sheet date.) *Another name for the balance sheet is the Statement of Financial Position.
What are the different accounting reports?
The main four are; statement of financial position, income statement, cash flow statement and statement of changes in equity.
What kind of items are posted in the Income statement?
An income statement reports a company's revenue over a period of time. The items posted on the statement are operating and non-operating items including net sales, cost of goods, depreciation, interest, and income taxes.
What is the best description of a statement that reports who what when and where?
literal
What is report statement?
i think it is something to do with the police when someone reports you.
Where does accounts receivable go on a multi step income statement?
Accounts receivables would be included in the balance sheet. The income statement reports revenues and expenses. Accounts receivables is an asset account and all the asset, liablities and equity accounts are reported on the balance sheet.
What are financial reports that summarize the financial condition and operations of a business?
Financial statements are financial reports which summarize the financial condition and operations of a business. Included in a financial statement are a balance sheet, income statement, and also a cash flow statement.
How many reports are needed to deactivate facebook account?
i think reporting an account has no effects at all
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.
Which financial statement that reports accounting data at a specific date is the?
Balance Sheet
Why auditor's reports are important to users of financial statement?
to control the finance activitiies
What is the financial statement that reports accounting data at a specific date?
balance sheet
