Yes, adjusting entries have been recorded in the general journal and posted to the ledger accounts.
Adjusting Trial Balance
Yes, financial statements are typically prepared from the unadjusted trial balance, but adjustments must be made first to account for accrued and deferred items. The unadjusted trial balance provides a summary of all account balances at a specific time, but it does not reflect necessary adjustments such as depreciation or accrued expenses. Once these adjustments are made, the adjusted trial balance is used to prepare the financial statements, including the income statement, balance sheet, and cash flow statement.
Accounting standards ensures that financial statements are prepared whereever in the world is same and information provided on it is comaprable and readable for all kind of users.
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.
Financial Statements
Adjusting Trial Balance
financial statements are prepared by accountants to submit to the government for taxation purposes.
2003-2004 tax demand Tk.10000 but payment 2007-08
yes
Yes, financial statements are typically prepared from the unadjusted trial balance, but adjustments must be made first to account for accrued and deferred items. The unadjusted trial balance provides a summary of all account balances at a specific time, but it does not reflect necessary adjustments such as depreciation or accrued expenses. Once these adjustments are made, the adjusted trial balance is used to prepare the financial statements, including the income statement, balance sheet, and cash flow statement.
Lifetime operations.
Accounting standards ensures that financial statements are prepared whereever in the world is same and information provided on it is comaprable and readable for all kind of users.
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.
Financial Statements
Subsidiary companies are also part of group of companies so parent company is required to show the financial statements of group as a whole so that's why consolidated financial statements are prepared
The financial statements vary according to the type and scale of entity, however following statements can be found in any entity:Statement of Financial Position - Balance SheetStatement of Financial Performance - Profit & Loss - Income StatementDepreciation ScheduleStatement of Changes to EquityCash Flow StatementNotes to the Financial StatementDirectors ReportDirectors DeclarationHope this helps!
balance sheet,income statement,cash flow statement,retained earnings