Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
It dates from the development of huge scale business and the advent of Joint Stock Company as a form of business that enables the public to participate in giving capital in return for 'shares' in the assets and the profits of the company. This type of business organization allows a bounded to the responsibility of their members to the nominal value of their shares. It senses that the liability of the shareholder for the financial debts of the company is restricted to the amount he had decided to pay on the shares he buys. He is in responsible to make any extra donation in the event of the company's liquidation or failure. As a manner of fact, the law governing the operations or functioning of such company in any country, for illustration: the Companies Act in India that gives a legal form to the doctrine of stewardship that requires which information be disclosed to the shareholders in the appearance of annual balance sheet and income statement.
Briefly speaking, the income statement is a statement of loss and profit made throughout the year of the report and the balance sheet shows the assets held through the firm and the monetary claims against the firm. The common unwillingness of the company directors to release more than the minimum information needed by law and through the growing public awareness that have forced the governments in different countries of the world to expand the disclosure of information and needs.
The significance attached to financial accounting statements can be traced to the requirement of the society to mobilize the savings and channel them in profitable investments.
Investors, where they are small or large, should be provided along with reliable and adequate information in order to be capable to make efficient investment decisions. It is the most important social reason of financial accounting.
Explain any two concepts of accounting with examples
As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf
1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.
The Company changed its process of accounting for pre-opening costs. These changes had no cash impact and the pro forma amounts accessible in the consolidated statement of income r
Lego Toys is planning to produce new toys at its factories. The setup cost of the production facilities, production costs and profits for each toy are given below: Toy Setup c
GILCO rents DVDs and DVD players (players) on a short term basis to airline passengers through GILCO locations at every large commercial airport throughout the world. A passenger
J Green''s financial position at 1 May 2008 was as follows bank 2,910 cash 160 equipment 5,900 premises 25,000 creditors R smith 890 t thomas 610 debtors j car
Scanlon Technologies, Inc. Anne Scanlon founded Scanlon Technologies, Inc., in 1993. The company designed andmanufactured high-tech products that were used in various industrie
Capital In addition to borrowing from banks and additional sources, all companies obtain finance from their owners. This money is usually accessible for the life of the busines
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd