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THE NOTES TO THE ACCOUNTSThe notes to the accounts provide additional information on the a/c policies that the company has adopted the make-up of some of the items appearing on the face of the financial accounts and additional information on items not provided for in the accounts.
IAS 1 does not give the standard format of the notes to the accounts and that this would vary from one company to another. However, the standard requires the following approach to be used when presenting the notes to the accounts.1. The company should state the basis of financial statement (most cases historical basis of accounting)2. The company should present the significant policies adopted3. The make-up of some of the items appearing on the face of the final accounts e.g. PPE and inventory.4. Explanation of items not provided for in the final accounts (e.g. Dividends)An example of the notes to the accounts examined within the scope.
Illustration of change in profit sharing ratio A, B and C have been trading as equal partners having capital contributions of £400,000, £300,000 and £200,000 respectively. They
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#Hi! would you mind to help me? is there such an accounting term as Withholding Tax Payable??? please help me.. thanks
Below is the Trial Balance for Clay Employment Services, year ending December 31, 2011. Previous period's information were as follows: net receivables, $290,000 and inventory, $82
Comparison with Sector Averages Any conclusion relating to the signs of overtrading needs to be put in the context of the normal values of accounting ratios indicated by the se
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