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What is the Treatment of provisions in financial statements?

Anonymous

∙ 12y ago

Updated: 9/18/2023

Provisions are to be shown in the Liability side of Balance sheet in financial statements. Provisions are made for the expenses which will efford by an enterprise and does not pertains to current accounting year.

Wiki User

∙ 12y ago

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How might changing one of the financial statements affect the other financial statements?

How might changing one of the financial statements affect the other financial statements?

Discuss the provisions of as-17 on segment reporting?

AS 17, is a disclosure standard meaning that it involves only disclosure of a certain information in the financial statements by the way of additional information.

What are the elements of financial statements?

Five elements of financial statements are as follows:AssetsLiabilitiesEquityIncomeExpense

What is the Measurement of the Elements of Financial Statements?

The elements of financial statements are measured in dollar amounts.

Impact of finance on financial statements?

Finance are the reason for financial statements. Without financial information, financial statements can't be created. Investors use this information to make decisions about investing in a business.

Related Questions

How might changing one of the financial statements affect the other financial statements?

How might changing one of the financial statements affect the other financial statements?

What are limitations of financial management?

Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du

What are the limitations of management?

Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du

Discuss the provisions of as-17 on segment reporting?

AS 17, is a disclosure standard meaning that it involves only disclosure of a certain information in the financial statements by the way of additional information.

Why are dates important on financial statements?

Why are the dates on financial statements important

What are the elements of financial statements?

Five elements of financial statements are as follows:AssetsLiabilitiesEquityIncomeExpense

What are projected financial statements?

Projected financial statements are estimated financial statements before starting of any operating activity for planning purpose.

Are reserves also charged off from the financial statements?

write downs are charged off from the balance sheet, but i am not sure about the treatment of reserves.

Have financial statements lost its importance?

No. Financial Statements are the only way to measure financial performance. Perhaps the questioner should elaborate why he/she thinks that financial statements may have lost their relevance.

What are the limitations of financial management?

Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du

What is the Measurement of the Elements of Financial Statements?

The elements of financial statements are measured in dollar amounts.

Impact of finance on financial statements?

Finance are the reason for financial statements. Without financial information, financial statements can't be created. Investors use this information to make decisions about investing in a business.

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