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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.
The Olympic Company has an accounts receivable balance at December 31, 2010 of $159,548.00. The existing balance in the Allowance for Uncollectible Accounts was a credit of $2,563
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A document or shape used by a customer to issue an order for goods or services. I need notes on 1.Procure to pay cycle with accounting entries 2.give to cash
Limitations of Ratio Analysis : In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1. Limited use
When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?
Debenture holder are those who gives long term loan at specific interest rate in term of cas. Creditor gives only short term credit in term of cash for purchasing of goods.
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
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