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What is financial stewardship?
Financial stewardship is when one entity assumes the financial responsibilities for another entity. The steward would be expected to act in the best intentions for the entity in terms of financial planning, investments and accountability.
Why is Financial leverage important to financial management?
Financial leverage is important to financial management because it will give an advantage. It allows the organization or entity to have more security.
What are various forms of balance sheets?
There are two kinds of balance sheets. They differ only in the style of presentation and not in contents. Balance sheet is financial position of any entity on a particular date. The financial information is what the entity owns ( assets) or what the entity owes ( liabilities). The presentation varies in two formats: Vertical balance sheet : Here the financial information is presented as sources and uses and not as assets and liabilities. The source of finance is presented at top and the uses at the bottom. Horizontal balance sheet : Here the liabilities and assets of an entity is presented. The liabilities of the entity is presented on the left side and the assets of the entity on the right side.
What is the going concern assumption?
In accounting, "going concern" refers to a company's ability to continue functioning as a business entity. It is the responsibility of the directors to assess whether the going concern assumption is appropriate when preparing the financial statements. Financial statements are prepared on the assumption that the entity is a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the normal course of operations.
What are the examples of financial liabilities?
A financial liability is defined as the obligation to give cash to another entity under certain conditions. Some examples of financial liabilities are accounts payable and loans.
What is the meaning of solven?
"Solvency" refers to the ability of an individual or entity to meet financial obligations and debts. It indicates whether an entity's assets exceed its liabilities, serving as an indicator of financial health and stability.
What is financial stewardship?
Financial stewardship is when one entity assumes the financial responsibilities for another entity. The steward would be expected to act in the best intentions for the entity in terms of financial planning, investments and accountability.
Which entity puts a financial asset in the market?
issuer
What is the meaning of natural entity?
Hi everybody. I would appreciate if somebody could explain to me the meaning of "natural entity"
What is a personal financial statement form for?
A personal financial form is a formal record of all the financial activities completed by that entity, whether a business, or an individual. Reported assets, liabilities, equity, income and expenses are directly related to an entity's financial position, and a financial statement should present this clearly.
What is accounting entity assumption?
A business enterprise (entity) has an existence separate from the private financial affairs of its owner/s. The accounting records of the business are separate from the personal financial records of the owner
Why is Financial leverage important to financial management?
Financial leverage is important to financial management because it will give an advantage. It allows the organization or entity to have more security.
What is the meaning of entity set?
entity set is term as a collection of logicaly related entities.
Who is qualified to express an auditor's opinion about an entity's financial statements?
CPA
What is the main objective of Accounting Standards?
A financial statement is a record of the financial activities of a person or business entity where all related financial information are presented in an...
Recording and reporting a business's financial information separately from the owners financial information is an application of the accounting concept?
Business Entity
What is required of a financial review?
the accountant possesses a level of knowledge of the accounting principles and practices of the industry in which the entity operates and an understanding of the business of the entity
