Financial Statements

revenue expenditure is recurring in nature. It is incurred to operate day to day expenses. eg salaries and wages, printing and stationery.

Consolidated f/s like combined f/s sum up the reporting entities or subsidiaries transactions into a total. The difference is that consolidated f/s will eliminate transactions where subsidiary entities bought and sold goods or loaned each other money. For example lets say we have Parent company P and subsidiary companies S and T. S sells 1,000 widgets to T for 10 each = $10,000. S would record revenue of $10,000 and T would record expense of $10,000. However when P consolidates the f/s P would eliminate that sale as an inter-entity transaction, if not, then revenue and expenses would be over stated by $10,000. P is really just moving money from one pocket to another, there is no sale where P actually gains real income. Hope this was helpful.

Construction in Progress (CIP) is the accounting term that refers to the temporary classification of assets that are being built/assembled before being placed in service. Companies must track these expenses in a special "construction in progress" G/L account until the asset is complete. Depending on the size of each project, construction in progress can be accounted for on the books of a company for several years. Companies may have from just one or two up to hundreds of CIP projects. Each project may contain from one to hundreds of items being tracked. And, each item may represent the sum of numerous expenses/invoices. The sum of the individual expenses for an item in a project will determine the value of the fixed asset when placed into service. Total spending for each item and the overall project is budgeted at the beginning of a project and often tracked closely. Accounting for construction in progress can apply to everything from building a hotel, manufacturing plant, or office building to purchasing, shipping, and assembling machinery. The asset is not depreciated until construction is completed, certificates of occupancy are issued by local government inspection, and the asset is placed into service

it is the FIXED and VARIABLE it is the FIXED and VARIABLE expenses only not selling expenses.JOKE.this is a GUESS.haha

Non performing Assets either a Short term or a Long term asset is marked to be Amortized. It may have a depreciation value.

to calculate the profit easilly

Incompetence is the inability to do the job. It can come from a lack of talent or natural ability, or from ignorance, or a combination thereof.

Capital reserve is the amount created to increase in market value of assets at the time of revaluation of assets.

About $35,000

revenue is income and expenditure is an expense

yes .it should be include both short term and long-term debt in its caliculation. yes .it should be include both short term and long-term debt in its caliculation. yes .it should be include both short term and long-term debt in its caliculation.

I believe it needs to be 50% but I also believe there are many exceptions to the rules as well. A company should hold at least 51% of Capital in Another Company in order to treat it as a Holding Company. Means minimum requirement is 51% to get subsidiary and Parent company relationship.

There are a number of ways that people could manage their expenses. People could manage expenses by keeping a book.

The accounts receivables will need to match the bad debt being written, and therefore this applies to the matching principle in accounting.

Accretion

In accounting, "going concern" refers to a company's ability to continue functioning as a business entity. It is the responsibility of the directors to assess whether the going concern assumption is appropriate when preparing the financial statements. Financial statements are prepared on the assumption that the entity is a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the normal course of operations.

The values of assets such as plants or inventories can change elastically. Using costs instead of values for elastic assetsÊis more accurate for calculating expenses.

No. Interest on projected benefit obligation is used and that encompasses both vested and non-vested amounts.

In a financial transaction:

* debits = What was paid for or gained. It can be an expense, an asset (something of lasting value) or it can be a reduction in a debt. * credits = What is the source of value. It can be income, an increase in debt or obligations (owner investment) or it can be a reduction in assets (cash or other assets)

Since the notes to the financial statements form part of the financial statements and are a component of financial statements, certain disclosures found in the notes may not be found in the balance sheet, income statement, statement of retained earnings or statement of cash flows.

The Radiation balance

Cash/New Machinery (debit)

Accumulated Depreciation - Old machinery (debit)

Loss on Sale of Asset (debit)

Old Machinery (credit)

Cash (if money paid for new machinery in exchange) (credit)

In financial reporting two EPS numbers are commonly reported: Basic and Diluted EPS. The Basic EPS is calculated by dividing income available for distribution to common stockholders by the weighted-average number of common shares outstanding. The number calculated this way excludes any possible dilution stemming from outstanding dilutive securities, such as options, warrants, convertible bonds, or convertible preferred stock. Diluted EPS reflects the potential dilution from such dilutive securities. The companies that don't have any dilutive securities, or the companies that report net losses, report only Basic EPS. In case of a net loss, dilutive securities would improve negative EPS and have an anti-dilutive effect. The value of diluted EPS is always lower than basic value and is more relevant in investment decisions, since it indicates somewhat of a worst-case scenario. Refer to International Accounting Standard # 33 for more information.