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Q. Objectives of financial reporting?
Financial reporting objectives are the broad overriding objectives sought by accountants engaging in financial reporting. According to the FASB the first goal of financial reporting is to provide information that is useful to present and potential investors and creditors and other users in making credit, rational investment and similar decisions. The information must be comprehensible to those who have a reasonable understanding of business and economic activities and are willing to study the information with reasonable diligence. Company Enterprises (Stamford Conn 1980) as well as Statement of Financial Accounting Concepts Interpreted broadly the term other users includes brokers, security analysts, employees and lawyers. Financial reporting must provide information to all who are willing to learn to use it properly.
During the current year, Mast Corporation expects to produce 10,300 units and has budgeted the following: net income $350,376; variable costs $1,080,800; and fixed costs $105,000
how to account for the preference shares held by the investor
Q. Basic elements of financial statements? Therefore far we have discussed objectives of financial reporting and qualitative characteristics of accounting information. A third
#Q. Example on closing process?
What careers can i do with these subjects?
using the break-even equations to solve for price and variable cost per unit andromeda company's break-even point is 2,400 units. variable cost per unit is $42; total costs are 6
It is a national organization of female accountants in America that plans to further the interests of women in the accounting career. The American Society of Women Accountants (ASW
Q. Complicated type of business? Your study of accounting began with service companies as instance because they are the least complicated type of business. You are at present r
Determine the types of Credit card sales Bank Credit Card Sales - Most retail businesses accept bank credit cards. Treated as a CASH sale. Recording Bank Credit Card Sale
The Development Stage Entities Topic specifies the guidelines for identifying an entity in the development stage, addresses the applicability of generally accepted accounting princ
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