Financial Statements

bonds payable are shown in balance sheet under current as well as non-current liability portion as that much amount which is payable within current year is current liability and remaining is non-current liability.

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Yes it is. For partnerships, their P&L account can be divided into 2 parts, the normal P&L account and also the P&L appropriation account.

once profit and loss account is prepared to do some adjustment with the net profit , predecided by the management, a separate account is opened named profit and loss appropriation account. :) I LOVE JUSTIN BIEBER

Operating Expenses are the cost of doing business and are paid out of the company's cash or in some cases paid with Bonds, Stocks, or Dividends, either way, these expense will affect the Cash of the company and it's worth.

Their are two accounts for Depreciation one is Accumulated Depreciation. This is an Contra-Asset Account and is listed on the Balance Sheet under assets and is deducted from the related asset account.

Depreciation Expense is the expense we claim from Accumulated Depreciation and though it is an expense it does not affect our Cash. We do not actually "pay" this expense. Depreciation is the decline in usefulness of a Fixed Asset.

Remember, all Fixed Assets (except Land) lose their usefulness. Decreases in the usefulness of assets that are used in generating revenue are recorded as expenses. However, such decreases for fixed assets are difficult to measure. For this reason, a portion of the cost of the fixed asset is recorded as an expense each year for its useful life.

theft

THE REVENUE RESERVE IS THAT PART OF PROFIT THAT HAS BEEN NOT GIVEN TO THE SHAREHOLDER BUT RETAINED IN THE BUSINESS FOR FURTHER GROWTH. HENCE REVENUE RESERVE AS PAR DEFINATION IS THE PART OF THE PROFITS RETAINED IN THE BUSINESS. == ==

Depreciation rate = 1/Useful life * 100 * 1.5

1/20 = 0.05

0.05*100*1.5 = 7.5

Depreciation rate is 7.5%

Furniture is movable. Most fixtures are immovable, but check with the agent what is to be left in a property you are taking over.

We feel cash flow is a great week to week, forecast vs actual of the day to day financial operations of a company. Budgets are usually a month to month forecast of the year ahead and do not pinpoint actual income and expense like a cash flow will. In a budget you may project 100K in income where as in a cash flow you will pinpoint where and when the income is actually coming in. We understand this is monotonous and most companies do not have the resources for in house book keepers or accountants that's why we developed a company that provides virtual assistants that specialize in the day to day finances of any company.

There are different way for conducting due diligence. It can be conducting by detailed searching and gathering detailed information about the assets and obligations i.e. liabilities. conduct of dealings society and financial market. On the assets side the quality and value of asses (life and operational quality, state of art of technology adopted) is to be taken into consideration. By conducting such survey the investor/lender can reach at the conclusion

Wadhawan

The main parts of a balance sheet are profit, loss and inventory.

A retail balance is the current outstanding balance that a credit card (account) has excluding any other transactions such as cash withdrawals and levied charges.

It is basically the outstanding balance from all purchases made at retail outlets/stores, be it physical or virtual (on the net).

assets don't change, liabilities don't changed and owners equity don't change.

supplies that are owned

owned = asset

= asset

Net worth is the difference between total assets minus total liabilities while total liabilities means the total debt payable by company in short as well as in long term.

Revaluation reserve is part of equity of business as shown under equity section in liability section of balance sheet.

Purchasing of fixed asset is not a part of operating activity instead of that it is part of cash flows from financing activities in cash flow statement.

Revenue is before expenses or other costs of doing business.

Revenue may be goods or services sold, or rent income , subscription income, interest income, or many other forms of income.

financial statements are prepared by accountants to submit to the government for taxation purposes.

advantages of using ICT

Accountants use net relizable value in evaluation; as it is more prudent, it takes into account the depreciation of an asset. This gives a more realistic value and is a better measure of an asset.

The selection of an inventory costing method has no significant impact on the financial statements. true or false

If the elimination of volatile cash flows through risk management techniques does not significantly change a firm's expected future cash flows and WACC, investors will be indifferent to holding a company with volatile cash flows versus a company with stable cash flows. Note that investors can reduce volatility themselves: (1) through portfolio diversification, or (2) through their own use of derivatives.