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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.
Compute the present value of Rs. 1000 receivable 6 years thus if the discount rate is 10 percent. Solution: The present value is computed as follows: PV kn = FV n . PVIF k,n
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
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Suppose that the average firm in your company's industry is expected to grow at a constant rate of 4% and that its dividend yield is 8%. Your company is about as risky as the avera
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Common stock $5 stated value (900,000 shares authorized, 620,000 shares issued)................. $3,100,000 Paid-in capital in excess o stated value-common stock ....1,240,000 Reta
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