0
What else can I help you with?
Is depreciation compulsory under companies act?
Yes, depreciation is compulsory under the Companies Act in many jurisdictions, including India. Companies are required to provide for depreciation on their fixed assets in their financial statements to reflect the reduction in value over time. This is essential for accurately representing the company's financial position and ensuring compliance with accounting standards. The specific methods and rates of depreciation are typically prescribed by the respective accounting standards applicable in the jurisdiction.
Is audit required?
A Partnership firm is not required to file audited financial statements with the Ministry of Corporate Affairs each year. Therefore, audit of financial statements is not required. However, tax audit may be required for a Partnership firm if the turnover exceeds prescribed limits.
What two company officers are required to certify the financial statements?
CE and CF
Companies that are listed on a stock exchange are required to submit their financial statements to the?
sec
Companies that are listed on stock exchange are required to submit their financial statements to the?
sec
Why company directors fees disclosure is important?
all types of accounting information disclosed in financial statements are important. it is legal and mandatory in many countries . also the ISAAB board under IAs 700 the report formats dictates a lot of expressions and disclosures required .
Why companies consolidate their subsidiaries for financial reporting purposes?
Subsidiary companies are also part of group of companies so parent company is required to show the financial statements of group as a whole so that's why consolidated financial statements are prepared
How do you get audited financial statements for hospital?
If it is a publicly held entity they should post the financial statements on their website or provide a copy if you request one. (They are required to provide them.) If it is a privately held entity then you have to ask very politely and have a valid reason as to why you would need them. (They are NOT required to provide them.)
How to cite financial statements in academic research?
To cite financial statements in academic research, follow the guidelines of the citation style required by your institution, such as APA or MLA. Include the name of the company, the title of the financial statement, the publication date, and the URL or database where it was accessed.
When is the income statement prepare?
Usually at the end of the financial period. It depends on the regulations of the country as well. In Singapore, companies are required to submit financial statements quarterly.
Does GAAP require comparative financial statements?
profit public companies dealing in the money markets required to provide Comparative balance sheet,profit and loss , cashflow statements.
Under what circumstances do financial reviews have legal force?
Publicly owned companies are required to file quarterly financial statements and the company's external public auditor is required to perform a review at the end of the first three quarters
