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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.
Business is an activity performed with the only intention of earning profit. The activity may differ according to the scope and volume.
Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
1. Fill in the table below. Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Aver
Why it is important for independent auditor to be a member of a professional body?
Q. Describe about ledger? A ledger (general ledger) is the absolute collection of all the accounts of a company. The ledgers are feasibly in a bound volume in, loose-leaf form
Q. What do you mean by work sheet? The work sheet is a columnar sheet of a computer spreadsheet or a paper on which accountants summarize information needed to make the adjusti
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual sys
Q. Explain Weighted-average inventory? Weighted-average: Ensuing inventory is priced using a weighted-average unit cost. In perpetual inventory procedure a new weighted-average
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders'
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