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What else can I help you with?
How is auditing distinguishable from bookkeeping and accounting?
Think of it this way, bookkeeping and accounting are putting things together (the financial statements). Auditing, is ripping it apart. I want to look at the finished product (the financial statements) and work backward to see how you put them together and if you did it correctly.
For GAAP purposes may combined financial statements be issued for affiliated companies which have different reporting periods for tax purposes?
I think its to make persons in a organization aware of certain changes.
What is the non financial activities?
I think no-financial activities are those activities that you participate in as volunteer or those you dont get paid .
What is an examination usually by an accountant of financial records called?
I think you may be looking for an AUDIT.
What is the role of accounting and accounting information?
Think of accounting as the language of business. In order to communicate to investors, lenders, boards of directors and other stakeholders, it is critical that one is well versed in the language. Accounting records are the source information for financial statements which are used for many purposes including evaluating a business, making strategic decisions and assessing the health of an organization.
What represents a form of communication through financial reporting but not through financial statements?
I think balance sheet
How is auditing distinguishable from bookkeeping and accounting?
Think of it this way, bookkeeping and accounting are putting things together (the financial statements). Auditing, is ripping it apart. I want to look at the finished product (the financial statements) and work backward to see how you put them together and if you did it correctly.
Is castle arch real estate investment company financially sound?
I think answer to that question is obvious from looking at their financial statements, which are available on EDGAR(the sec website).
How old is battle force 5 tezz volitove?
In many texts the Tezz is already a university has financial statements. I think he 19 to 24 years old
What is aggressive accounting?
Think... ENRON, Tyco, etc. The practice of inappropriately misconstruing income statements for the purpose of pleasing investors and inflating stock prices.
Which financial statements do not include fixed asset accounts?
Statement of Cash Flows, Income Statement, Statement of Retained EarningsThose are three that I can think of off the top of my head
What financial statement summarizes the financial position of a company?
Yes, the balance sheet represents a company financial position at a specific period of time. The balance sheet; however, is more useful when (a) there are multiple years of information and (b) analyzed in tandem with the other financial statements [Income and Cash Flow statements].
Why do you think the SEC requires that balance sheets provide two years of comparative financial information and income statements provide three years of comparative financial information?
Income statements contain more data that can be extrapolate and inferred from by investors than the balance sheet does. For more accurate extrapolations, the SEC requires 1 more year of information for the income statement.
For GAAP purposes may combined financial statements be issued for affiliated companies which have different reporting periods for tax purposes?
I think its to make persons in a organization aware of certain changes.
What was the author's purpose in writing 'Nickel and Dimed'?
I think the author's purpose in writing "Nickel and Dimed" was to show the reader the hidden costs of the minimum wage workers such as financial, emotional, and physical problems.
An officer of Carson Company recently commented that when he receives the firm's financial statements He looks at just the bottom line of the income statement -- the line that shows the net income or?
An officer of Carson Company recently commented that when he receives the firm's financial statements. He looks at just the bottom line of the income statement -- the line that shows the net income or net loss for the period. He said that he does not bother with the rest of the income statement because "it's only the bottom line that counts." He also does not read the balance sheet. Do you think this manager is correct in the way he uses the financial statements? Why or why not?
What is the difference between an income statement and financial statement?
Financial report means any report about monitory matters. In other words a financial report is about the transactions that have financial effects. To run a business financial reports play important role as relevant financial information is transmitted to relevant users inside and outside the entity to help them in making decisions. For example; bank statement, aged debtors analysis report etc.Some financial statements are prepared on regular basis at equal intervals and some are prepared as and when needed. Some financial reports are meant only for management and some are communicated to people outside the entity as well.Financial statements on the other hand are also financial reports. But in the business and accounting the term financial statement has more of a formal status.Usually financial statements refer to either a statement included in the complete set of general purpose financial statements or a complete set of general purpose financial statements. And due the same reason whenever the term financial statement is used, it is often assumed that a report is about entity's financial position, financial performance, cash flows or fluctuations in equity.The term financial statement is usually used for all or any of the following statements:Statement of financial positionStatement of Comprehensive Income or Income StatementStatement of Cash FlowsStatement of Changes in EquityAs said earlier that financial statements are in fact financial reports but presented following a certain set of instructions as given by applicable financial reporting framework. For example International Financial Reporting Standards.Majority of financial reports for internal purposes have such format or presentation rules that are set by the management or the user himself and sometimes no particular format is followed. In addition to that some financial reports are prepared on regular basis after equal intervals and some are prepared only when they are needed and are named as contingency reports. Financial statements are one of such reports that are prepared on regular basis as specific entities are required to do so according to applicable laws.In the end, again there is no difference between the terms financial statement and financial report. But their usual interpretation and meaning in the financial and accountancy world is somewhat different.
