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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.
Interest Rate on a one Payment Your parents will retire in 17 years. They presently have $270,000, and they think they will require $1 million at retirement. What annual intere
1. You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did y
A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800. The village accepted the shipment and th
i want a prepar balance sheets of this chapter
Ordinary Income - One of two classes of income (other being CAPITAL GAINS) taxed under the INTERNAL REVENUE CODE. Factually, ordinary income is taxed at a higher rate than capital
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Cleary, Wasser, and Nolan formed a partnership on January 1, 2010, with investments of $100,000, $150,000, and $200,000, respectively. For division of income, they agreed to (1) in
agency conflicts and solutions in shareholders vs auditors
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