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What financial report that presents a detailed picture of the financial condition of a business on a specific date is called a?
The financial report that presents a detailed picture of a business's financial condition on a specific date is called a balance sheet. It provides an overview of the company's assets, liabilities, and equity, allowing stakeholders to assess its financial stability and liquidity. The balance sheet is typically divided into three main sections: assets, liabilities, and shareholders' equity.
What else can I help you with?
Is financial accounting cost accounting?
Cost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents information like statements for public and private use. Management accountants are involved with the budgeting and costing sides of things and present information only for the sole users of the business, so only internal uses like management, shareholders etc.
What is the balance sheets prepared?
A balance sheet is a financial statement that presents a company's financial position at a specific point in time, detailing its assets, liabilities, and equity. It follows the accounting equation: Assets = Liabilities + Equity, providing a snapshot of what the company owns and owes. Balance sheets are typically prepared at the end of an accounting period, such as quarterly or annually, and are essential for assessing the overall financial health and stability of a business. They are used by stakeholders, including investors and creditors, to make informed decisions.
Differentiate between cost accounting and financial accounting?
Cost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents information like statements for public and private use. Management.the question am asking have not been answered .because financial accounting and cost accounting is not the same nor even having the same answer .
What is meant by the phrase generally accepted accounting principles?
GAAP help to ensure that financial information fairly presents a firm's operating results and financial position.GAAP is important for uniformity reasons. Any where in the world as long as the two companies are operating in the same industry you can easy compare them simple because of GAAP.
What statement immediately follows the word then in a if then statement?
In an "if-then" statement, the phrase that immediately follows the word "then" typically presents the outcome or conclusion that results from the condition stated in the "if" part. For example, in the statement "If it rains, then the ground will be wet," the phrase "the ground will be wet" follows "then" and describes the result of the condition "it rains."
What does an audit achieve?
Audit is a practice to find out that does financial statements of business are prepared according to standards and policies and whether it presents the true and fair business activities or not.
What does a cash flow financial statement show about a company?
The cash flow statement basically just shows how a company or business is doing money-wise. It adds up all liabilities, assets and shareholders' equity and presents it on a spreadsheet providing detailed information about where the company is spending their money and how much profit they are making.
While paraphrasing is similar to summarizin it presents a more?
detailed restatement
What are the Benefits of a financial statement audit?
So that the company will know how much it has made and how much it has in loss and to improve.
The currency in which a company presents its financial statements is known as the?
Reporting Currency
What are financial forecasts and financial projections?
Financial forecasts and financial projections are estimated future financial statements of the company that presents its expected financial position. Financial forecasts assume that the company will continue to function in the same manner as it is currently functioning and in financial projections there are few hypothetical assumptions about a company's future course of action.
Is financial accounting cost accounting?
Cost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents information like statements for public and private use. Management accountants are involved with the budgeting and costing sides of things and present information only for the sole users of the business, so only internal uses like management, shareholders etc.
Which one of the statements presents a condition of the Hardy-Weinberg principle?
No statements, but a few of the Hardy-Weinberg conditions. Random mating. No gene flow. No natural selection.
What does the word spastiki mean in greek?
In medical terms is someone or something (a condition) that presents with spasms. In slang is an annoying person.
What does issuing institution mean?
There are several meanings for issuing institution. When referring to education, and issuing institution is the institution that presents you with your diploma or certification. When talking about financial matters, this means the company that presents you with a loan, grant, or other sources of funds.
When should a business not be sold 'by owner'?
It is up to the owner if his or her business should be sold by him or her. If selling the business presents a challenge for any reason, one should hand the job over to a business real estate agent even if the agent gets a cut of the sale amount of the business.
Why do you feel the spirits so strong?
coz they havnt crossed over yet and you can still presents as they have unfinshed business on earth
