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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
What did the Auditing Standards Board do in response to the Treadway Commission report?
The Auditing Standards Board (ASB) of the AICPA issued ten new auditing standards in 1988.
What is the effects of savings and investment in circular flow of the economic activity?
The households like to allocate a part of their incomes for future uses. As a result the firms has to dispose all their goods and services that remain unsold. creating a disequilibrium to the flow of the economy.
Ratio analysis is a comparison of numbers. It is used in financial studies as well as math classes across the country. It is tough to figure out in the beginning, but one you get the hang of it, they will be easy to decipher.
Small claims court if it is under the max dollar amount in your state.
How do you get a narcissist to keep to a financial agreement?
Hi, Lisa,
Think of it as a prospective credit transaction. If he believes that an investment in you will pay off sometime in the future (in other words, that one day you will again become a source of narcissistic supply) - he may give you something.
If he believes that he stands to lose more than he stands to gain - for instance, if you threaten him with effective legal measures - he may give you something.
But if you repesent no reward and no punishment - why would he depart from his hard-earned money?
The best way is to have it in writing. My ex-fiancee owes me money and I will have to take him to small claims court.
THE REASON WHY INVESTMENT AND REVENUE INCREASED OWNER Eqt:
-revenue are like a sale. if u run market basket and u sell a lot of products out to customers then u make money. money u make from sales are called "profits." Profits are money u make. Another word for profit are called "REVENUE." The fact that you make MONEY!! your COMPANY which is "MARKET BASKET IS IMPROVING. meaning increase of 0WNER EQUITY. Investments are like profit. your making money. and again is u make money what happen. your company is wealthy and IMPROVING. that's why they both increase your owner equity.
WHY DO WITHDRAWAL AND EXPENSE DECREASE OWNER EQUITY?
-well everyone knows the meaning of WITHDRAWAL. u might think its good because u take out money to send, but is it good for your bank account? NOO!! because the fact u take out money.. There's less money in there! that's a bad thing. EXPENSES are goods or services you pay for to operate your own company. like above we stated "MARKET BASKET." To run market basket u need to pay money to electricity, employees, and products. that means money!!!! This is the reason why WITHDRAWAL AND EXPENSE DECREASES OWNER EQUITY. Its the fact that your losing money !! hopefully you understand =] thanks.
What is financial forecasting?
Financial forecasting is a prediction of the economy in the future based on current trends and other statistics such as national wealth and global market status.
What is an audit expectation gap?
Expectations gap === The expectation gap is the gap between the auditors' actual standard of performance and the various public expectations of auditors' performance (as opposed to their required standard of performance). Many members of the public expect that:
- auditors should accept prime responsibility for the financial statements,
- auditors 'certify’ financial statements,
- a 'clean’ opinion guarantees the accuracy of financial statements,
- auditors perform a 100% check,
- auditors should give early warning about the possibility of business failure, and
- auditors are supposed to detect fraud (See Wisconsin Law Journal article entitled, "Why Didn't Our Auditors Find the Fraud?").
Expenditures capitalized as long-lived assets generally include those expenditures that?
are made for normal repairs to maintain the usefulness of the asset over a number of years
A square (coupon) usually has no cash value, but if you present the coupon when you purchse either of the promotional items (1 pkg of oxydo or 1 pkg chipso) you will receive 2 cakes of P&G naptha soap free. Good For Tokens like these have limited collector interest and are generally worth a couple dollars or less.
How do you pass journal entry for capital?
Cash a/c Dr
to capital a/c Cr or
to 'x' capital a/c Cr
[ Being capital brought in by X for business]
What are the monthly expenses for a doctor's office?
A doctor's office, like so many other businesses, have similar expenses.
Operating expenses, which include but are not limited to, Utilities, Supplies, Equipment, Wages, Taxes, etc.
Monthly expense depend on the doctors office, but many of the common ones will be the same with all businesses.
Utilities, Salaries and Wages, Taxes, and even Supplies may be a monthly expense.
Any time a company increases its revenue the owner's equity is also increased?
No. Owners Equity is a function of profit, not revenue(sales). If expenses increase by the same $ amount as revenue. The net impact on OE is $0.
What does uncapped liability mean?
A limitation (a cap) of liability clause is a contractual provision that restricts the amount of damages a client can recover from a company. Uncapped liability is a liability without a limit.
Balance sheet four paws foundation?
The Paws Foundation run by Brandon Bethel is not an official company. It is not registered at companies house and doesn't pay creditors any outstanding invoices.
Any business or company thinking of entering into association with The Paws Foundation or Brandon Bethel should be aware of the this.
Can a non resident become a partner under the Indian Partnership Act 1932?
can a non resident indian become a parter in partnership firm as per Indian Partnership firm.
