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Q. Goal of financial reporting?
The second goal of financial reporting is to provide information to help present and potential investors and creditors and other users in assessing the timing, amounts and uncertainty of prospective cash receipts from dividends owner withdrawals or interest and the proceeds from the redemption, sale or maturity of securities or loans. Since creditors' and investors' cash flows are related to enterprise cash flows financial reporting must provide information to help creditors, investors and others assess the timing, amounts and uncertainty of prospective net cash inflows to the related enterprise.
This objective ties the cash flows of investor's owners as well as creditors to the cash flows of the enterprise a tie-in that appears entirely logical. Enterprise cash inflows are the source of cash for interest, dividends and the redemption of maturing debt.
define Macrs in detail
How would I do this make it and adjustment account revenue 300.00 of supplies on hand 100.00 of unearned revenue is still unearned at the end of the month Accured salaries are 280
One or more phases in the operation cannot supply all the items it makes concurrently.
The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to every other must
Q. Explain about Money measurement concept? Money measurement concept. Economic activity is primarily recorded and reported in a common financial unit of measure the dollar in
Q. Comparability in accounting information? When comparability exists reported similarities and differences in financial information are real and not the result of differing ac
The range of accounting can be presented in a diagrammatic form. Data collection and creation is the area that provides raw material for accounting. The data collecte
journal entry fire insurance claim received for previous year is 50% of its original claim
What is OWNER'S EQUITY Difference between Liabilities and Assets is Owner's Equity. The can also be known as capital, proprietorship, or net worth.
office supplies on hand at year end amounted to 3000
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