Preparation and presentation of financial statements, Financial Accounting

Assignment Help:

PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS OF LIMITED COMPANIES

This is a chapter dealing with company financial statements, a topic frequently examined.

Do not be put off by the large volume of detail in the chapter. You will gradually acquire the required knowledge through persistent repetitions of the build up illustrations provided throughout the section and frequent attempts at the practice questions provided at the end of the chapter.

The preparation of published financial statements involves preparing and preventing financial statements to external users especially shareholders in a form prescribed by the law (Companies Act) and the International Reporting Standards (IFRSs).

The Companies Act gives the guidelines on preparation of the financial statements, then registration with the registrar of companies, auditing and certain disclosures such as director’s salaries.


Related Discussions:- Preparation and presentation of financial statements

Pre-acquisition losses in subsidiary company, Pre-acquisition losses in sub...

Pre-acquisition losses in subsidiary company on date of acquisition If the subsidiary company has a loss on the date of acquisition i.e. a debit balance in the retained profits

Concept of accounting, what is the implication of applying accounting conce...

what is the implication of applying accounting concepts wrongly

NON PROFIT ORGANISATIONS, USING PROPER ILLUSTRARTION,ELLOBORATE ON THE REGU...

USING PROPER ILLUSTRARTION,ELLOBORATE ON THE REGULATORY FRAMEWORK THAT SUPPORTS FINANCIAL REPORTING IN NON PROFIT ORGANISATIONS.

Prepare the journal entry in proper format, A company declared a $.50per sh...

A company declared a $.50per share cash dividend on December 1,2013. The Company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding. Pr

Explain zero base budget, Q. Explain Zero Base Budget? Zero base budget...

Q. Explain Zero Base Budget? Zero base budgeting can be defined as - 1) An operating planning and budgeting process which requires each manager to justify his entire budget

Mutual dealings-bankruptcy and liquidation, MUTUAL DEALINGS A right of ...

MUTUAL DEALINGS A right of set-off is allowed where there have been - (a) Mutual credits, debts or other dealings resulting in pecuniary liabilities, (b) Between the debtor an

Use spreadsheet to determine allocation, The Red and Blue partnership has b...

The Red and Blue partnership has been created to operate a law firm. The partners have been attempting to devise a fair system to allocate profits and losses. Red plans to work mor

What accounting method (cash or accrual) would you recommend, What Accounti...

What Accounting method (cash or accrual) would you recommend for the following businesses? a. A gift shop with average annual gross receipts of $900,000 b. an accounting partnershi

Prepate a flexible budget for production, with the following data for a 60 ...

with the following data for a 60 percent activity, prepare a flexible budget for production at 80 percent and 100 percent activity production at 60% activity - 6000 units

Compute and list the budget - budgeting, When Lydia started her vending mac...

When Lydia started her vending machine business, she instituted flexible budgeting for the first few months of operations. Her first monthly budget numbers were these: Cost of g

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd