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Balance Sheet
A balance sheet is a statement for presenting an organization financial position at a particular date, mostly at the end of an accounting period; also called a statement of financial position. The balance sheet, which represents a picture at one point in time of an organizations financial standing, shows an organizations resources the amount it owes creditors, and ownership value. Balance sheets categorize organization assets, liabilities, and stockholders' equity according to the following formula:
Assets = liabilities + shareholders' equity
Uses of Funds Flow Statement : This declaration is extremely helpful for policy makers as it traces the movement of funds inside the organization. Various of the uses include
Q. Explain about full disclosure principle? The full disclosure principle states that information significant enough to influence the decisions of an informed user of the finan
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and
Service revenue earned on account Metro performed courier deliverance services for a customer who agreed to pay USD 900 at a later date. The company approved credit rather tha
Closing Entries based accounting question a) Describe the nature of Closing Entries. I.e. what is the purpose of closing entries? b) For each of the f
GENERAL
Perpetual and Periodic inventory a) Describe the difference between the perpetual inventory method
Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th
What is ACOUNTS RECEIVABLE LEDGER Businesses have several customers and individual businesses aren't assigned an account number they are just in alphabetical order. Accounts
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