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Q. Explain about financial statement?
The income statement is the statement of retained earnings the balance sheet and the statement of cash flows of Metro Courier Inc demonstrate the results of management's past decisions. They are the finish products of the accounting process which we explain in the next section. These financial statements offer a picture of the solvency and profitability of the company. The accounting process facts how this picture was made. Management as well as other interested parties utilize these statements to make future decisions. Management is the first to identify the financial results then it publishes the financial statements to notify other users. The nearly everyone recent financial statements for most companies are able to be found on their websites under Investor Relations or some similar heading.
Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting peri
Q. What is Inventory obsolescence? Inventory obsolescence -- inventory no longer salable. Possibly there is too much on hand,possible it is out of fashion. True value of the in
Determine about the revenue section Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales -
Notes to financial statements
Q. What is periodic inventory procedure? In the periodic inventory procedure the Merchandise Inventory account is updated periodically subsequent to a physical count has been m
Graham maintains that formulation and implementation are phases in the strategic management process. Yolanda maintains that evaluation and estimation are also part of this proc
What is the implication of applying accounting concepts wrongly
Question 1 What is cash book? Explain the different types of cash book 2 Prepare a trial balance from the following Particulars Amount Rs.
Q. Explain about Going-concern concept? Except strong evidence exists to the contrary accountants assume that the business entity will continue operations into the indefinite
The resources as machinery, property, buildings and land rights etc. such a business owns are termed as assets. The money values allocated to assets are derived from the cost conce
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