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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
How is accrued income resented in the financial statement?
Accrued income is income which the company has earnd but not yet received and shown as a current asset in balance sheet.
Is inssurance an administrative expense?
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What are the advantages of using subsidiary ledger?
When using a General Ledger, accounts such as Accounts Payable or Accounts Receivable are much easier to work with in the General Ledger if they have a "single" sum of all accounts, in other words for example you have 100 customers that owe you "X" amount of money total. The sum of all the accounts can be listed in the General Ledger, while each specific account detail, i.e customer information, amount owed, etc, can be kept separate in a Subsidiary Ledger.
What do you mean by cash loss in balance sheet?
In the case of a company which has been registered for a period of not less than 5 years, whether the accumulated losses of the company at the end of the relevant financial year are not less than 50% of its net worth and whether it has incurred cash losses in that financial year and immediately preceding such financial year.
Cash loss is the net loss of the company after excluding all non -cash expenditures such as depreciation , amortization etc. By CA Abhishek Agarwal.True
Interesting, there really isn't such a thing as 'net assets ratio'. There's a current asset ratio which is probably the closest thing and current assets / current liabilities which gives you an idea of the company's liquidity.
What is a listing of all th balance sheet and income related accounts?
The chart of accounts or general ledger
True
What is Difference between Contract and procurement management?
Contract management is the management of contracts made with employees, vendors, partners and customers. Procurement management is where goods and services are gotten from a different organization.
What is the difference between direct and indirect expenses?
Direct Expenses are those costs directly related to the principal activity of the business. Examples include the raw materials used to manufacture a product and the labor costs associated with the work performed to produce the product. Indirect Expenses are those not directly related to the principal activity of the business. Examples include Sales activities, Research and Development activities, and Administrative activities. Simple example: An auto repair business. Direct Expenses would include parts purchased from a vendor to repair an automobile and the labor costs associated with the mechanic who performed the actual repair. Indirect Expenses would include the auto repair shop's advertising costs and the labor costs of the front office receptionist.
Which of the following are NOT required for purchase account records?
A purchase account holder recently discovered that the purchase account was billed multiple times for the same purchase. Prior to disputing, how should the account holder try to work out a resolution?
What are the minimum and maximum loan amounts for Salaried Personal Loans?
What are the minimum and maximum loan amounts for Salaried Personal Loans?
The Loan is depends on their requirement. Personal loan is an unsecured loan which is offered by various private financial companies like Mudrakwik Link , Loanmart as well as MoneyTap. The personal loan disbursement happens on the key criteria such as:
Documentation Procedure
1. Salary Slip of the back Last Month
2. Your ID and address proof
3. Minimum age should be in 21
4. Details of Customer
Approval Time of Personal Loan: 1 to 2 Working Days
The Maximum loan amount is 10, 00,000/
Jury
Does the personal loan app affect CIBIL?
No, when u buy a loan by a personal loan app then you have to fill the amount before the tenure period of the time. The loan amount should be returned on time. When u returned the loan amount in the tenure time your cibil score does not affect by the app.
Here are some of the Apps
1. Mudrakwik
2. Kreditbee
3. LoanMart
4. CashBean
5. MoneyTap
Where can you get a free solution manual of financial statement analysis 10e by subramanyam?
From the publisher.
It will help to be the teacher of a class using that textbook when asking.
How to record financial statement?
You don't actually record a "financial statement" the financial statements are the documents the company uses to record financial transactions, those include
Balance Sheet
Statement of Owners Equity
Statement of Retained Earnings
Income Statement
Trial Balance
Post Closing Trial Balance
Just to name a few.
Costs which are ascertained after they have been incurred are known as?
Costs which are ascertained after they have been incurred are know as "Historical Cost".
What is Net new equity raised?
net new equity is given by the formula; new equity-old equity- addition to retained earnings
Accounting is useful because it keeps track of where the money is coming from and where money goes. It is useful to businesses and to individuals who want to track their spending and income.
How do you solve for liabilities when only given assets?
To solve for liabilities you have to have assets and owners equity. If you are given these two balances, then to find liabilities remember the accounting equation.
Assets = Liabilities + Owners Equity (Stockholders Equity)
Rearrange the equation to find
Assets - Owners Equity = Liabilities
For example if you have
Assets 500 = Liabilities X = Owners Equity $300
Assets $500 - OE $300 = Liab. $200
The equation original form would look like this.
$500 = $200 + $300
If you are not given at least two balances, there is really no way to figure the Liabilities.
What type of asset is rarely strategic?
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The Beatles were an English rock band formed in Liverpool in 1960, and one of the most commercially successful and critically acclaimed acts in the history of popular music.[1] The group's best-known lineup consisted of John Lennon (rhythm guitar, vocals), Paul McCartney (bass guitar, vocals), George Harrison (lead guitar, vocals) and Ringo Starr (drums, vocals). Rooted in skiffle and 1950s rock and roll, the group later worked in many genres ranging from pop ballads to psychedelic rock, often incorporating classical and other elements in innovative ways. Their enormous popularity first emerged as "Beatlemania"; as their songwriting grew in sophistication by the late 1960s, they came to be perceived by many fans and cultural observers as an embodiment of the ideals shared by the era's sociocultural revolutions.
Initially a five-piece lineup of Lennon, McCartney, Harrison, Stuart Sutcliffe (bass) and Pete Best (drums), they built their reputation playing clubs in Liverpool and Hamburg over a three-year period from 1960. Sutcliffe left the group in 1961, and Best was replaced by Starr the following year. Moulded into a professional act by manager Brian Epstein, their musical potential was enhanced by the creativity of producer George Martin. They gained popularity in the United Kingdom after their first single, "Love Me Do", became a modest hit in late 1962, and they acquired the nickname the "Fab Four" as Beatlemania grew in Britain over the following year. By early 1964 they had become international stars, leading the "British Invasion" of the United States pop market. The band toured extensively around the world until August 1966, when they performed their final commercial concert. From 1966 they produced what many critics consider to be some of their finest material, including the innovative and widely influential albums Revolver (1966), Sgt. Pepper's Lonely Hearts Club Band (1967), The Beatles (1968) and Abbey Road(1969). After their break-up in 1970, the ex-Beatles each found success in individual musical careers. Lennon was murdered in 1980, and Harrison died of cancer in 2001. McCartney and Starr remain active.
The Beatles are the best-selling band in history, with estimated sales of over one billion units.[2] They have had more number-one albums on the UK charts and have held the top spot longer than any other musical act. According to the RIAA, they have sold more albums in the US than any other artist, and in 2008 they topped Billboardmagazine's list of all-time Hot 100 artists. They have received 7 Grammy Awards from the American National Academy of Recording Arts and Sciences and 15 Ivor Novello Awards from the British Academy of Songwriters, Composers and Authors. They were collectively included in Timemagazine's compilation of the 20th century's 100 most influential people.
Are dividends payable an expense or owner equity?
Dividend payable are from current year's net income portion it is liability of business as soon as dividend declared.
