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Explain about the term- Contingent liabilities
Under IAS 37 provisions, contingent assets and contingentliabilities, contingent liabilities aren't recognised in the financial statements. Contingent liabilities are less than 50% probable however not remote. The users of accounts need information from the notes to make a proper assessment. Especially as probability figure can be manipulated.
Disclaimer of Opinion - Statement by an AUDITOR indicating inability to express an opinion on the fairness of FINANCIAL STATEMENTS provided and reason for the inability. The audito
Q. Aggressive Approach of financial management? A -firm may be aggressive in financing its assets. An aggressive policy is said to be followed by the firm when it uses short-te
WAYS AND MEANS ADVANCES (WMAs) WMA is not a permanent source of financing government deficit. But, this is likely to provide greater autonomy to the RBI in conducting monetary
What is Benchmarking "A continuous, systematic process for evaluating the products, services and work processes of an organisation that are recognised as representing best prac
Q. What is the function of Dividend policy decision? Dividend policy decision: the third major decision of the financial management of the decision related to the dividend poli
In how many area ratios are grouped Ratios can be grouped into 3 main areas: 1 Performance - how well business has done (profitability) 2 Position - short term standing
Explain what will happen while the government imposes a minimum price that is below the market equilibrium price. Why is this true? The minimum price will comprise no impact on t
What is working capital? Working capital contains the current assets of the firm.
Q. Location of lifting anchors in precast concrete units? It is desirable that position of anchors be located symmetrical to the centre of gravity of precast concrete units. Or
Are there any legal factors which could restrict a corporation in its effort to pay cash dividends to common stockholders? Explain. A firm might be legally restricted as to the
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