answersLogoWhite

0

What is financial elements?

Updated: 4/28/2022
User Avatar

Wiki User

15y ago

Best Answer

The elements of financial statement refer to the items enclosed in a financial statement. Examples of these elements are assets, liabilities, net or equity assets, expenses, revenues, losses and gains.

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is financial elements?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What are the elements of financial statements?

Five elements of financial statements are as follows:AssetsLiabilitiesEquityIncomeExpense


What are main elements of financial system in the Philippines?

One of the main elements of the financial system in the Philippines is financial claims. Other main elements are financial institutions, financial markets, government agencies, and law and policies.


What is the Measurement of the Elements of Financial Statements?

The elements of financial statements are measured in dollar amounts.


What are the elements of financial system?

The main elements of Financial System are as follows:MoneyFinancial MarketsFinancial InstitutionsFinancial InstrumentsCentral Banks


Where does interest payable belongs in the elements of financial statement?

liability


Where does inventory belong in the elements of financial statements?

Assets


What are the five elements of financial statements?

ndi ko nga alam ang sgot eh.. kya nga ngtatnung ai.. tsk..


What is the Basic Elements of Financial Accounting?

The three basic elements of a financial accounting system include:1. Rules for determining what, when, and the amount that should be recorded2. A framework for preparing financial statements3. Controls to determine whether errors may have arisen in the recording process


What part of the elements of financial statements does paid in capital belong to?

assets


What part of the elements of financial statements does retained earnings belong to?

equity


A well written financial goal includes the following elements?

education


What is purpose of standards?

A standardized accounting system has predictable elements and structure. A standard system produces financial statements that make it easy (at least possible) to compare results for businesses within the same industry. And, since the structural elements are the same across the board, once you understand the financial elements of the system, it is possible to understand any financial statements for any industry.