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Both the parts, Profit and Loss Account and Trading Account of last account are interdependent upon each other. Gross Profit or loss plays a very important role in the calculation of net figure of Profit and loss. Trading and profit and loss account provides the true picture of an organization through showing its revenues and expenses. Such account is normally prepared at the ending of the accounting period. Balance Sheet like we have observed is one of the most significant financial statements. This is a periodic summary of the financial position of the business. This is the statement of assets, owners and liabilities' capital at an exacting point in time. Such statement in itself does not reveal anything regarding the details of the operations of the business. Though, a comparison of two balance sheets could reveal the modifications in business position. A realistic understanding of the operations of the business would need two other statements: Cash Flow Statement and Funds Flow Statement. We shall acquire them up in subsequent sections.
A co has a standard costing system. the following are avaiable for september: actual quantity of direct materials purchased and used: 20,000 pounds Standard price of direct mater
Q. Explain Break-even analysis? Cost-volume-profit (CVP) analysistracks that how profit changes when there are changes insales price, variable costs, fixed c
Cost Account Ledger System A cost account ledger system is essential to analyze accounting information in order such costs may be accumulated for individual cost centers and c
how to determine reasonable, allowable, allocable, variable, fixed cost of new company
Waylander Coatings Company purchased waterproofing equipment on January 6, 2013, for $320,000.The equipment was expected to have a useful life of four years, or 20,000 operating ho
Explain:- Q Why is the statement of cash flows useful? Q. How is it possible for a company to suffer a net loss for a given year, yet produce a positive net cash flow from opera
ANALYSIS OF VARIANCE When the actual are not similar from the standards, variance exists. Variance may be unfavorable or favorable. When the actual cost is more than the standa
#what is the formula for calculating payback period and what are its limitations ?
contract account formate
Your firm is the auditor of Easy Hire Pty Ltd (Easy Hire).the company hires out equipment to industries such as construction, engineering & event management. It has 76 branches nat
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