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Stewardship Accounting
Shareholders contribute capital that is provided to the directors that they employ and at the end of each accounting year render an explanation on the annual particular meeting of how the financial resources were operated. This is identified stewardship accounting.
1. In the light of the above shareholders are the principal though the arrangement is the agents.
2. Agency problem arises because of the divorce or divergence of interest among the principal and the agent. The conflict of interest between shareholders and management is identified agency problem in finance.
3. There a variety of nature of agency relationship in finance exemplified as follows like:
Working Capital a) Working capital or called gross working capital also, refers as current assets. b) Net working capital refers to current assets minus current liabilities
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what are financial markets. why do they exist
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what are the difference between receipt and payment account and income and expenditure account ?
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