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Prospective Financial Information (forecast and projection) - Forecast: Prospective financial statements which present, to the best of responsible party's knowledge and belief, an entity's expected financial position, results of operations and changes in financial position. A financial forecast is based on responsible party's assumptions reflecting conditions it expects to existand course of action it expects to take. Projection: Prospective financial statements that present, to the best of responsible party's knowledge and belief, given one or more hypothetical assumptions, an entity's expected financial position, results of operations and changes in financial position.
What is implication of applying accounting concepts wrongly.
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Q. Define about SME FINANCE? SMEs contribute in a significant way to many economies in the world. Moreover generating income, in often large proportions in relation to GNP acro
practical problems of chapter one of company accounts
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
How do i find the retained earnings? What is the formula to find retained earnings? What is the retained earnings? Accounts payable $ 5,000 Notes payable $ 7,000 Accounts receivabl
WHAT IS dEPRECIATION?
Income statement2013 2012 2011 Net revenue 5,075,390.. 4,763,180.. 4,158,507 Cost of goods 1,377,242.. 1,297,102.. 1,134,966.. Gross profit 3,698,148.. 3,466,078.. 3,023,541 Total
Q. Stock dividends and stock splits have the following effects on retained earnings: Stock Splits Stock Dividends a. Increase No change b. No change Decrease c. Decrease Decrease d
There are two projects A and B. The initial capital outlay of A and B are Rs.1,35,000 and Rs.2,40,000 respectively. There will be no scrap value at the end of the life of both the
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