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Prospective Financial Information (forecast and projection) - Forecast: Prospective financial statements which present, to the best of responsible party's knowledge and belief, an entity's expected financial position, results of operations and changes in financial position. A financial forecast is based on responsible party's assumptions reflecting conditions it expects to existand course of action it expects to take. Projection: Prospective financial statements that present, to the best of responsible party's knowledge and belief, given one or more hypothetical assumptions, an entity's expected financial position, results of operations and changes in financial position.
The following information was taken from the ledger of Jefferson Industries, Inc.: Direct labor $85,000 Administrative expenses $59,0
Q. What is Demands For Grants? The budget proposals of the expenditures to be met out from the "Consolidated fund of India" should be presented in the form of Demands for Grant
Q. Internal Control Over Financial Reporting? Internal Control Over Financial Reporting - A process designed by, or under supervision of company's principal executive and princ
Investors need a 15% rate of return on Brooks Sisters' stock (rs = 15%). a. What would the value of Brooks's stock be if the last dividend was D0 = $1.5 and if investors expect
Level of detail Financial accounting reports provide users with a comprehensive overview of performance and position of business for a period. Consequently, information is aggr
SYSTEM ONE-THE HEAD OFFICE MAINTAINS ALL THE ACCOUNTS This system is suitable for an enterprise that has small branches (possibly in another area of the town or city where the
Q : The Trial Balance of Dephane Main Fashion Center contained the following accounts at November, 30 the end of the company fiscal year. Dephane Main Fashion Center Trial Balanc
To decide in what zone should be placed a store which sells video-cassettes, the manager of a firm which sells and rents cassettes makes a study to estimate the demand for each sto
State the role of Accounting information Accounting information has a significant role to play in reporting the extent to which different groups have benefited from the busines
Evidence on the usefulness of accounting There are convincing evidence and arguments that accounting information is at least perceived as being useful to users. Various researc
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