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What else can I help you with?
What is the difference between balance sheet and financial statement if there is any........?
Balance Sheet: Balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..
What is the most common and important financial statements?
Following are the most common and important financial statements: 1 - Income statement 2 - Balance sheet 3 - Cash flow statement
What is the difference between balance sheet and worksheet?
A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity. It is a formal report prepared by accountants for external stakeholders. On the other hand, a worksheet is an internal document used by accountants to organize and record adjusting entries and prepare financial statements. It is a tool to facilitate the preparation of financial statements and is not typically shared with external parties.
What is the difference between a general ledger and a trial Balance?
A general ledger shows complete financial transactions over the life of a company. The trial balance just shows debits and credits of the business.
Importance of balance sheet?
The balance sheet shows what the business has(assets) and what the business owes against those assets(liabilities). The difference between the assets and the liabilities shows the net worth of the business. The net worth of the business is important in that it is a measurement of the time the business is expected to stay in financial power. The balance sheet also provides the business with information on how best it is able to pay its debts. Underwriters also use the information in the balance sheet(working capital) to assess the business' ability to finance its operations. The balance sheet assists the managers of businesses in making decisions regarding purchasing of equipments for the business. Business managers depend on the balance sheet to analyze whether buying certain equipment on debt is the right move for the business at that time. Business managers need the balance sheet so as to decide the best source of credit for the business at that time. The balance sheet shows the accounting equation in a physical representation. The balance sheet also shows the owner's equity for example, it shows the value of the stock and the number of shares outstanding. The balance sheet is also used by the government agencies to make sure that the business is complying with the set laws. It also provides information to any potential lenders of the business on the credit worthiness of the business.
If your credit side of a trial balance exceeds the debit side by a significant amount is it okay to add the difference to the balance of misc expense to complete the current month' financial statement?
your taking accounting for managers too huh? lol
What Key numbers financial managers use to calculate ratios?
Balance sheet and income statement
What is balence?
The balance is the difference between the totals of the credit and debit sides of a financial account.
How can a business use a balance sheet?
balance sheet is the financial statement prepared at the end of the year.it is very useful to a business concern to know its financial position of the firm and also comparison. balance sheet decides the shareholders entering and exit.it is useful to managers to prepare reports and improve the business by proper decision making
What is the difference between balance sheet and financial statement if there is any........?
Balance Sheet: Balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..
How does the notion of risk and reward govern the behavior of financial managers?
In the world of financial management, a common principle is that great reward cannot be achieved without great risk. The balance between these two extremes governs the behavior of financial managers. Their job is to reap the highest returns on investments while limiting the amount of risk placed in each investment.
What are benefits to a financial balance sheet?
What are benefits to a financial balance sheet?
What is the difference between provisional balance sheet and estimated balance sheet?
Provisional balance sheets are used by companies to prepare for financial audits. An estimated balance sheet is used by companies to show projected growth for investors.
How do you calculate excess cash in a financial statement?
To calculate excess cash in a financial statement, subtract the minimum cash balance needed for operations from the total cash balance. This difference represents the excess cash available for other purposes.
How do you get my balance?
What is my balance for my financial aid
Important of financial accounting in an organization?
Financial accounting is very important in an organization. It helps track and account incoming and outgoing funds and balance the books on a daily, weekly or monthly basis.
What is the most common and important financial statements?
Following are the most common and important financial statements: 1 - Income statement 2 - Balance sheet 3 - Cash flow statement
