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Q. Goal of financial reporting?
The second goal of financial reporting is to provide information to help present and potential investors and creditors and other users in assessing the timing, amounts and uncertainty of prospective cash receipts from dividends owner withdrawals or interest and the proceeds from the redemption, sale or maturity of securities or loans. Since creditors' and investors' cash flows are related to enterprise cash flows financial reporting must provide information to help creditors, investors and others assess the timing, amounts and uncertainty of prospective net cash inflows to the related enterprise.
This objective ties the cash flows of investor's owners as well as creditors to the cash flows of the enterprise a tie-in that appears entirely logical. Enterprise cash inflows are the source of cash for interest, dividends and the redemption of maturing debt.
differenciate between a cash book and a ledger
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
what is journal entry
Bill is an avid angler. His favorite fishing location is Willow Lake, which supports year-round sport fishing. His monthly demand function for fishing at Willow Lake is given by x
At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect
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
A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price? A. $476 B. $595 C. $612 D. $644
Q. What is Cost-benefit? Cost-benefit The cost-benefit consideration engrosses deciding whether the benefits of including optional information in financial statements exceed th
Q. Database management system - accounting perspective? A database management system stores related data-such like monthly sales data products, salespersons, customers and sale
format of the account
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