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IAS 1 contents of financial statementsIAS 1 prescribes the contents of published financial statements. The major reports that are included as part of the published financial statements is:-
In most cases, companies that prepare published financial statements include the following additional reports (that are not financial statements).
Q. What do you mean by suspense account? How are errors in accounting classified? Suspense account: A suspense account is an account, which is opened when the trail balance does
what is non-current asset
Cost: - According to the management perspective cost is define as a reduction in the value of assets for to secure benefit or gain. In other words cost is the different expenses
What are the Advantage of limited liability Advantage of limited liability, though, imposes certain obligations on such companies. To start up a limited company, documents of i
how to account cst collected
John Chan considers buying a six-month stock futures contract on the shares of Li & Fung Limited. Shares of Li & Fung Limited are now trading at $50 per share and it is expected th
How can a person tell whether an entry to an expense account is payment for a legitimate expenditure or a means of concealing a theft of cash?
Foreign Currency Translation - Restating foreign currency in equivalent dollars; unrealized losses or gains are postponed and carried in Stockholder's Equity until foreign operatio
1. What will be the value of every of these bonds when the going rate of interest is 4%? Suppose that there is only one more interest payment to be made on Bond S. Round your answe
Present Value of a Bond 1. Assume that you wish to purchase a 20 year bond that has a maturity value of $1,000 and makes semiannual interest payments of $40. If you require a
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