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OBJECTIVES OF FINANCIAL STATEMENT ANALYSIS
Financial Statements are analyzed by dissimilar users for dissimilar purposes. Some of the purposes are as under-
1. To recognize and approximation the present and potential profitability/earning ability of the enterprise
2. To aid in economic decision making
3. To estimate and understand the financial performance and position of the concern
4. To calculate the effectiveness of business operations
5. To compute and analyze the different financial ratios and flow of funds/cash
6. To recognize areas of mismanagement and possible danger so that corrective actions can be taken
7. To resolve the preservation of financial leverage by the project
8. To establish the movement of inventory in the enterprise
9. To recognize diversion of funds etc.
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
1. The closing stock of Prince Corporation has been reduced by $8,000 from its opening amount of $22,000. 2. No dividend has been paid or proposed by the company. 3. The only cap
The comparative statements of Lucille Company are presented here. LUCILLE COMPANY Income Statements For the Years Ended December 31 First number are 2012 2012 then 2011
Question: You have decided to borrow $20,000 so that you can consolidate the loans you currently have with other lenders. You have agreed to repay the loan in 8 equal semi-annu
Q. Describe about Expense? Expense -- an expenditure that is chargeable against revenue during an accounting period.An expense leads to the reduction of an asset. All expenditu
Federal income tax Except specifically exempted, all income (illegal and legal) is subject to personal income tax. Withholding depends on 1) employee's gross earnings, 2) emplo
Identify and explain the two ratios that are used to assess the solvency of a business.
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
Q. What is depreciable amount? The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the
Why is the cash basis of accounting not used when preparing financial statements?
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