Financial Statements

The balance sheet is no more or no less important than the income statement.

The balance sheet provides a snapshot of the business as it stands at a given point in time and the income statement shows how the business got there.

Together with the statement of cash flow (which can be constructed using multiple years of income statements and balance sheets), these three financial documents help clearly define the financial health of the business.

If it's a trading security the FVA is to the income statement.

If it's an Available-for-sale security the FVA is to other comprehensive income.

If it's held-to-maturity then there will be no FVA.

You need to determine the type of security you hold.

Adding debits and credits of balance sheet including capital

no u iodiot revune - expense = n/i

Loans here means the loans given to other companies/subsidiaries. The company will receive an interest on these loans and hence is an asset.

Advances means any payments to staff as an advance.

An account is a record that represents a single thing to the company. Balance sheets represent multiple accounts. Accounts can at one time only be either a debit or a credit. A balance sheet is a collection of certain accounts presented in a statement, and includes both debit and credit accounts.

The original investment, the revenue, expenses that resulted in net income, and withdrawal by the owner.

A finished goods inventory turnover ratio is the rate that the inventory is used over a period of time. This measurement shows a company how it is doing in general. If there is too much inventory, then a company isn't doing that well.

The Income Statement deals only with revenues and expenses.

The Cash Flow Statement includes any form of cash flow, be it revenues, expenses, the sale or purchase of assets, payment or proceeds from liabilities, etc etc..

Hence the income statement does not provide a complete picture of the entity's cash activities.

Does this make sense? If it doesn't, drop me a line :) Happy study!

When company is in short of money and they have amount available in the form of reserves then company issues the bonus shares and uses the reserves as a working capital to run day to day business or use for investment opportunities.

1.Selling price is constant.

2.Costs are linear and can be accurately divided into variable (constant per unit)

and fixed (constant in total) elements.

3.In multiproduct companies, the sales mix is constant.

4.In manufacturing companies, inventories do not change (units produced = units

sold)

eg 12/12 its when your card is run out HAHA

Unless and until the other person is a law enforcement authority, the bank is not supposed to give out that information. The details of bank accounts and balances are strictly personal and would not be shared with anybody else apart from the account holder.

false

Gross profit is calculated by taking your net sales (sales - sales discounts) and subtracting your cost of goods sold.

A large balance would be considered any amount you can not repay within a specific amount of time. Either pay the balance in full each month or at the end of the promotional period.

The company's stockholders also re-elected four directors for a three-year term. The ratification of the appointment of KPMG LLP as independent auditor for the fiscal year ending 3 February 2007 was also completed. -- BASED ON WEBSITE

3 Factors are : Present or purchase value of item (P)

Its scrap value at the end of its life-span (S)

The life span of the item considered (L) 2 Methods are

Straight line method

Diminishing value method Straight line method: A straight line would define all values during the life span.

The slope of the straight line = (P-S)/L

Y-axis intercept = P (at Time = 0)

Y value at end of life span = S

Diminishing Value Method A parabolic curve will connect P & S (instead of a straight line in the previous method) with the apex of the parabola tending to be at point S

Answer

If I change jobs it's always to better myself in my new career or in my new job. I look for vacation times and if the company is flexible in that area. More money is definitely on the books and an plans that the company may have regarding Health Care, Retirement Plans and so on. It would be wise to work for a company that has both of the above, at least if you get sick money will still come in and if you work there long enough a pension too. Always watch for what the future holds for you in any company you choose to join.

(Net profit/Net Revenue) * 100 = Net Profit Percentage

Ex:

Net Revenue = 10,000 USD

Expenditure = 7500 USD

Profit = 2500 USD

Profit Percentage = 2500/10000 * 100 = 25%

A rented building is not an asset.

The lease hold improvements may be a depreciating asset (depending on the definitions in your area)

True

Retail accounting is the process of accounting for retail businesses. The accounting function in retail isn't significantly different from that of other businesses.

Reporting methods, measurement systems, and disclosures used by a specific company. The accountant should evaluate the appropriateness of accounting policies employed by management. A description of the company's accounting policies should be presented in a separate section preceding the footnotes to the financial statements or as the first footnote. Disclosure of accounting policies should include Accounting Principles and methods of application that involve: (1) a selection from generally accepted alternatives; (2) those peculiar to the industry or field of endeavor; and (3) unusual or different applications of Generally Accepted Accounting Principles (GAAP). Examples of disclosures are basis of Consolidation, depreciation methods, and inventory pricing. Disclosure of accounting policies assists financial readers in better interpreting a company's financial statements. Thus it results in fair presentation of the financial statements.