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Who are the users of Balance sheet and Profit and Loss Account?
Wiki User
∙ 15y ago
stakeholders like
# Investors
# Share holders # Bord of directors # lenders # banks
# And different Stake Holders Are the users of the B/S, P & L accounts
Wiki User
∙ 15y ago
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Who are the direct users of information in accounting?
the shareholders or the owner of the business are the direct users of the account
Identify five users of financial accounting?
Stockholders, lawyers, bookkeeper account receivable, account payable
You are an authorized user of a business card account are you liable as an authorized user?
No, authorized users are not responsible for an account. Only the actual account holder is responsible for all debt that is incurred.
Define the purpose of accounting and identify the four basic financial statements?
The purpose of accounting is provide information to the users like investors ,financial institutions and to other clients. The four basic financial statements are balance sheet,income statement,cash flow,statement of retained earning.
How an ATM works?
Every ATM Machine is wired into the banks account database.Below are the steps as to how it works:Customer visits the ATM and inserts his card into the machineATM reads the magnetic stripe to identify the userATM prompts the user to enter his identification pin numberIf the user enters an incorrect pin, the transaction is cancelled and the card is returnedIf the user enters the correct pin, the machine shows him a menu of operations like withdrawal, deposit, balance inquiry etc.User chooses his option - Ex: Withdraw cashMachine connects to the bank database to check if the user has sufficient balance in his account to successfully complete the withdrawal transactionIf so, the machine dispenses cash that the user asked forMachine updates users account with the withdrawal and updates the balance accordinglyMachine returns the card and a receipt advise on the transaction just performedUser takes his card and leaves the ATM
Who are the users of balance sheet?
external users like statutory firms, share holders etc
What is the importance of the balance sheet?
its snapshot of business.. and a kind of information for external or internal users, for to let them decide for to invest in company or vice vrsa
If you are an authorized user on a credit card and the holder files bankruptcy are you responsible for their balance?
No, authorized users are not responsible for debt incurred on such an account.
Are the basic four financial statements adequate for users of a firms financial data?
1. Balance Sheet 2. Income Statement 3. Cash Flow Statement 4. Statement of changes in equity
What account is designed for users that require only temporary access to the computer and is disabled by default?
The 'Guest' account is usually used by temporary users.
How is an ecosystem maintained in nature and how it survives?
An ecosystem is maintained and survives by remaining in balance. A balance of predators and prey, a balance of resources and users who use those resources, and a balance of animal and plant populations.
Who are all of the users of WikiAnswers?
There are so many users it would be almost impossible to list them all. Seven million users have a WikiAnswers account and there are many more who don't have an account.
Who are the direct users of information in accounting?
the shareholders or the owner of the business are the direct users of the account
Who establishes new permission or privilege for current users?
The administrator of the system will establish new rights for users.
Where are users account stored on a workstation in a workgroup?
the user account is stored in the active directory
Explain why it is important to take into account service users and deal with their concerns in a positive manner?
It is important to take account the service users into account and deal with them in a positive manner because a happy customer will always return.
What is fund flow statement and their uses?
Uses Of Fund Flow Statement1. The users of fund flow statement, such as investors, creditors, bankers, government, etc., can understand the managerial decisions regarding dividend distribution, utilization of funds and earning capacity with the help of fund flow statement. 2. The quantum of working capital is revealed by the schedule of working capital changes, which is a part of fund flow statement.3. The fund flow statement is the best and first source for judging the repaying capacity of an enterprise.4. The management will be able to detect surplus/shortage of fund balance.5. The fund from operation is not mentioned in the profit and loss account and balance sheet but it is separately calculated for the purpose of fund flow statement.
