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An audit of historical financial statements most commonly includes the?
Balance Sheet , Income Statement and Statement of Cash Flow.
What is an unqualified report?
unqualified report is that Audit report in which Audit opinion specify that according to according to rules and regulation the firms financial statement portray true and fair view.
What is a merchant processing statement?
A merchant processing statement is a detailed report provided by a payment processor, outlining the transactions processed through a merchant's account over a specific period, typically monthly. It includes information such as transaction volumes, sales, fees, chargebacks, and net deposits. This statement helps merchants track their sales performance, understand processing costs, and reconcile their accounts. It is essential for managing cash flow and financial planning.
Who has required analytical procedures for audits?
has required that analytical procedures be performed during all audits of financial statements. The Auditing Standards Board did so through the issuance of Statement on Auditing Standards (SAS) No. 56 in 1988
What is an audience response statement?
If someone is giving you a statement about something you're arguing you give him a response statement .
What is the difference between final account and financial statement?
Financial Statement: Financial statement is a instrument used to present a companies financial position. Financial statement complies with balance sheet, cash flow and funds flow statements. Final accounts is the final stage of preparation of financial statement
What is the difference between IPSAS format and other formats of presentation of financial reports?
The IPSAS formats are the required schedules under the International Public Sector Accounting Standards. These include: Statement of Financial Position Statement of Financial Performance Cash Flow Statement Statement of Changes in Equity
Can you consider notes to financial statement to be a financial statement?
Notes to financial statement can be considered to be a financial statement since they report the details and additional information that are left out.
Describe the diffferences between financial statement income and taxable income?
There is some difference in financial statement income as well as taxable income as in financial statement income there are items which are not allowed by tax authorities and main item is depreciation. Other factors are that tax is deducted on income which is received while in financial statement income included revenue which is not received or accrual items that needs to be adjusted as well that's why financial statement income and taxable income is not same.
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is your conclusion in financial statement?
the financial statement helps one to know the difference between income or gains and expenses or losses in p and l A/C.and the balance sheet to compare with the last years profits.
What is the difference between consolidated and parent company statements?
Comparative financial statements compares one set of financial statement with another set of financial statements while consolidated financial statement is prepared where in company there is parent and child company relationship exists to join the financial statements of parent and child company as a single financial statements.
Where can one find financial statement software?
CNet is a resource for a variety of downloads, including financial statement software downloads. This software can also be found at Financial Statement Pro and My Financial Statement.
What should a businesses financial statement contain?
it should contain statement of comprehesive statement, statement of financial position and statement of cashflows
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
What is financial statement?
financial comparison statement is a statement showing the trend in which financial figures are changing between two accounting period.
What is Financial comparative statement?
financial comparison statement is a statement showing the trend in which financial figures are changing between two accounting period.
