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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.
Why it is important for independent auditor to be a member of a professional body?
A company’s sales volume averages 4,000 units per year. Recently, its main competitor reduced the price of its product to $48. The company expects sales to drop dramatically
Q. Show depreciation formula with example? The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is: Annual deprecation = (
Acid test ratio = 2.5, current ratio = 1.5 net working capital = 10,00,000 fixed assets =? Share holder''s fund = 15,00,000 Stock inventory =? Bank overdraft =? Share capital =
These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 200
Cargin Company uses the FIFO method in its process costing system. The Assembly Department started the month with 15,000 units in its beginning work in process inventory that were
Using 2012 as the base year, prepare a trend anslysis for the data that follow, and tell whether the results suggest a favorable or unfavorable trend.(round to one decimal place.
when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks
pls explain expenses incurred
Q. Change in accounting method for inventory? Occasionally companies vary inventory methods in spite of the principle of consistency. Improved financial reporting is the merely
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