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Financial Statements

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 orderly manner and can be easily understood.

5,583 Questions

Types of cash inflow?

There are a number of types of cash inflow. All of them may or may not be used at any time, depending on the type of business and its activities. The different types are cash flow from operating activities, cash flow from investing activities, and cash flow from financing activities. The cash inflow entries are then divided into total cash flow, net cash flow, free cash flow, and net free cash flow.

Which statement includes a rebuttal?

While I can see Dixon's point, it's clear that he hasn't considered how the monument will affect American Indians - APEX

If the margin of safety for Porter Company was 20 percent fixed costs were 600000 and variable costs were 70 percent of sales what was the amount of actual sales?

Break even sales - Fixed cost / contribution margin ratio

Break even sales = 600000 / 0.3 = 2000000

Margin of safety = actual sales - breakeven sales

Break even sales + margin of safety = Actual sales

2000000 + 0.2(actual sales) = Actual sales

if actual sales = 1 then

2000000 + 0.2 = 1

2000000 = 0.8 actual sales

actual sales = 2000000 / 0.8

actual sales = 2500000

What do you get when you deduct cost from revenues?

Deducting direct costs from revenues is gross profit while deducting all other remaining cost we get net profit.

What is realisation concept in financial accounting?

Realization concept is also known as Revenue recognition concept. Under this concept revenue is said to be recognized by the seller when it is earned irrespective of cash received or not.

What is profit in a company?

profit in a company this is increase in revenue received by the company. profit in a company this is increase in revenue received by the company.

How do you calculate net profit percentage?

{Revenues-(Cost of Goods Sold+Operating Expenses+Other Expenses+Interest+Tax and Non Tax Expenses-Tax and Non Tax Income)/Revenues}*100 Or to put it simpler, you could use the equation; (net profit/turnover)*100

Is salary expense liability?

Salary expense is not a liability - it is an expense; however, if salaries are accrued between periods, there will likely be a liability account named "Accrued Salaries" or "Salary Due."

Associated with salaries; however, are various taxes. Those taxes are not necessarily submitted to government entities at the same time as the salary is paid to employees. There will likely be liability account(s) associated with those taxes.

What is the difference between abridged financial statements and detailed financial statements?

"Abridged" is more condensed, while "detailed" is just as it implies - detailed, with all financial details, facts and figures included.

Did you think debt is the cheapest source of funds?

Mutual funds have many good-looking features for beginner investors; individuals can frequently attain greater returns and pay inferior fees at the same time as creating a diversify ICICI Prudential AMC assortment by a Separate Account managed through a Registered asset consultant.

How do you calculate initial investment in an asset?

Cost of new asset+cost of installation - after tax proceeds from sale of old asset +/- change in net working capital

What is the difference between investigation audit and conventional audit in financial statement audit?

Purpose of investigation audit is to find out the evidance of the specific agenda for which investigative audit is conducted while conventional audit objective is to find out that financial statements represents the true and nature of business or not.

How much would it cost to build a Minor League Baseball practice field with a clubhouse The practice field would have irrigation system Thanks?

The question is about a practice facility, not a stadium.

As a General Contractor that owns a private baseball team and has built numerous "sports structures" such as batting cages, fencing, dugouts, etc. - my best shot from the hip would be around 875K for the buildings, cement work, infrastructure, and planning. Land costs and development expenses are a whole other issue and planning commissions may want the surrounding area to be improved or have you fit the bill for public safety items like street lights , sidewalks, and road construction.

How does the airline industry have negative Cash cycle?

When you live inside civilization, the best thing is to do is to follow the money. When people don't have money, they want to look like they have it, when they have it they want to look like they don't. The BEST WAY for the airlines and car-makers to fend off Labor Unions and to cap salary is not to show a profit. When your relatives know you have no money, they don't come for loans, right? Most airlines have been running under a negative cash flow of 5% for decades. This strategy also fends off lawsuits from passengers. The important place to look at is; has the CEO and CFO salaries gone down? Of course not! Please check the books "Supercapitalism" and "Freakonomics." for more detail answer.

What board is responsible for accounting standards?

The Financial Accounting Standards Board (FASB) assumed responsibility for accounting standards and principles in 1973. It is authorized to amend existing rules and establish new ones.

India's current account balance capital account balance and forex reserves for the period 2001-2006 and list the major features?

"http://wiki.answers.com/Q/India%27s_current_account_balance_capital_account_balance_and_forex_reserves_for_the_period_2001-2006_and_list_the_major_featuresu ur site is full of stupitity when u dont hv answers better close the site

Compare While with for Statements?

The while loop is the more general one because its loop condition is more flexible and can be more complicated than that of a for loop. The condition of a for loop is always the same and implicit in the construction. A for loop stops if there are no more elements in the collection to treat. For simple traversals or iterations over index ranges it is a good advice to use the for statement because it handles the iteration variable for you, so it is more secure than while where you have to handle the end of the iteration and the change of the iteration variable by yourself.

How to calculate Historical debt service coverage ratio?

Net operating Income/Total debt service Total debt servide-cash reuired to pay out interest as well as principal on a debt Net operating Income/Total debt service Total debt servide-cash reuired to pay out interest as well as principal on a debt