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Which basic assumption may not be followed when a firm in bankruptcy reports financial results?
Going concern assumption.
What are principle accounting reports involved in financial reporting in general terms what is the purpose of these reports?
The results of the accounting process are the 5 core financial sections: Balance sheet Income statement Statement of changes in equity Statement of cash flows Notes to the financial statements.
Characteristics of formal report?
Formal reports identify individuals that are being addressed by the report. Many formal reports explain the decision process and the results.
What is the definition of financial forecasting?
Financial forcasting is the prediction of how something will happen. It is also the results of operations and cash flows based on the expected conditions.
What is the annual gross Revenue for Sprint Corporation?
As of my last update in October 2023, Sprint Corporation was merged with T-Mobile US in April 2020, and its financial results are now part of T-Mobile's overall performance. Therefore, Sprint no longer operates as an independent entity, and its annual gross revenue is now reflected within T-Mobile's financial reports. For the most accurate and current figures, you would need to refer to T-Mobile's latest financial statements.
Which basic assumption may not be followed when a firm in bankruptcy reports financial results?
Going concern assumption.
What is it called when a firm issues periodic reports?
periodic reports of a firm's financial position or operating results.
What are the purposes of government financial reports?
They can be used to compare actual financial results against the legally adopted budget; assess financial condition and results of operations; assist in determining compliance with finance-related laws, rules, and regulations
What are principle accounting reports involved in financial reporting in general terms what is the purpose of these reports?
The results of the accounting process are the 5 core financial sections: Balance sheet Income statement Statement of changes in equity Statement of cash flows Notes to the financial statements.
Assumption that experimental results are due to chance alone is called?
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What is one of the reports that is generated in atrrs is the?
class testing results
What is a periodicity assumption?
A periodicity assumption is the notion that certain phenomena or processes repeat at regular intervals over time. In the context of finance, for example, it suggests that financial statements can be prepared for specific periods (like quarterly or annually) and that past performance can be indicative of future results. This assumption simplifies analysis and decision-making by allowing for the organization of data into discrete time frames. However, it may overlook underlying trends or changes that do not conform to regular cycles.
Difference between cost accounting and financial accouting?
Cost Accounting is Management Accounting which is about internal planning, budgeting, cost analysis, and control. Management is accountable, to various stakeholders of the company for being productive and maximizing return on owner investment whilst obeying laws and paying taxes.Financial accounting satisfies Managements accountability to external users of the company's financial reports that report on the company as a whole. Reports must be produced in accordance with GAAP ( reports that show results of operations, financial position, and cash flows). Such as owners and creditors, regulatory agencies such as the SEC and the IRS, and customers.
What is the significance of the iid assumption in statistical analysis and how does it impact the validity of the results?
The iid assumption, which stands for independent and identically distributed, is important in statistical analysis because it ensures that the data points are not influenced by each other and are drawn from the same probability distribution. Violating this assumption can lead to biased results and inaccurate conclusions, affecting the validity of the statistical analysis.
What legislation most affects the quality of laboratory results and reports?
Clia
What is the objective of financial controller in a company?
Accurately report the financial results of the company's operations in acordance with generally accepted standards. Produce reports for management which help then analyze and better understand what is going on in the company operations. Help produce company budgets and report spending and revenue against the budgeted numbers.
What is GM Financial Status?
As of my last update, GM Financial reported a solid financial status. The company has consistently delivered positive financial results, including strong earnings and growth in their global operations. However, it is always recommended to refer to the most recent financial reports or statements from GM Financial for the most accurate and up-to-date information on their financial status.
