Financial Statements

administrative

Cash flows are adjusted for depreciation transaction and then net income is arrised and from there taxes are deducted as well.

Explain what you want your audience to learn and Help your audience to follow the main points.

what is statutory fund

yes

At the time when i incurred expenses on behalf of company

expenses a/c dr.

Cash/bank a/c cr.

At the time when i got reimbursement for the amount

bank/cash a/c dr.

Party a/c cr.

In an operational audit, the management of an organization asserts that the operations of the organization are being conducted in accordance with management's established policies and procedures.

For example, if the per-unit variable cost is $15 and selling price per unit is $20, then the contribution margin is equal to $5. The contribution margin may provide a $5 contribution toward the reduction of fixed costs or a $5 contribution to profits.

Financial forecasts and financial projections are estimated future financial statements of the company that presents its expected financial position. Financial forecasts assume that the company will continue to function in the same manner as it is currently functioning and in financial projections there are few hypothetical assumptions about a company's future course of action.

Category B consists of (1) FASB Technical Bulletins and, if cleared by the FASB, (2) AICPA Statements of Position and (3) AICPA Industry Audit and Accounting Guides.

The contribution margin is the difference between the per-unit variable cost and the selling price per unit.

The goal in analyzing financial statements is to assess a company's past performance, current financial position; and to make predictions about the company's future performance. This directly relates to stocks, bonds, and other financial instruments.

Cash Account :-

1. Is an account in the ledger.

2. Cash account is part of the ledger. Cash account is opened in the ledger in which posting is done from some book of original entry.

3. In cash account posting is not followed by narration.

4. It only records one aspect of transaction involving cash & bank.

Cash Book :-

1. Is a separate book of account forming a part of accounting system.

2. Cash book records entries directly from transaction & there is no need for a book of prime entry.

3. In cash book entries are followed by narration also.

4. It records both the aspect of this transaction in cash & bank columns to complete double entry posting.

influence others

because otherwise there would be no cash

The only disadvantage is time.

Missing depreciation will increase the profit while reduce the expenses in the year in which depreciation is missing.

no

is a ten year bond issued at par reported as a non-cash flow in a statement of cash flow?

Inventory compilation is used by a company when reconciling physical inventory with perpetual inventory records and consists of the following procedures: counting the physical inventory, correctly summarizing the quantities, extend prices times quantities, and foot the extensions. Totals should agree with the amounts recorded in general ledger.

Do you mean: can a bank balance be a liability?

If so, yes. If a bank balance is an overdraft then that balance should be shown in current liabilities.

Decrease asset; since repurchase is with cash, whis is an asset

Decrease equity; if repurchased stock is not to be reissued, it is declared void and the number of outstanding assets is decreased. Hence, equity is decreased.

if the asset is hold for disposal

when you buy good for 1000 that good will be shown under balance sheet as an inventory and when u will sell that it will show as sales revenue of 7000 in income statement.

Revenue is calculated as per percentage of completion method in long term contracts like construction contracts as first of all total cost and revenue is determined and after that it is allocated to specific fiscal year according to the percentage of completion of contract or project