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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.
Q. Example of perpetual inventory procedure? The Perpetual inventory procedure Companies use perpetual inventory procedure in a range of business settings. In the past companie
How accounting helps in Internationalisation of businesses Internationalisation of businesses has created a need for accounting rules to have an international reach. It can no
Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
Q. Explain about accounting applications? Early on accounting applications were in accounts receivable, payroll, accounts payable, and inventory. Within some years programs exi
nWhat is the implication of applying accounting concepts wrongly.imum 100 words accepted#
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou
Difference between Debit and Credit Debit- used to record employer's FICA taxes, state unemployment taxes and federal unemployment taxes incurred during an accounting period
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