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THE INCOME STATEMENTIt shows the financial performance of the company during the given financial period. It discloses the income and expenses and thus the net profit for the period.IAS 1 recommends that the income statement can be presented in 2 ways or formats:a) By classifying by function:Under this format, the expenses of the company are classified into 5 major categories i.e. Cost of sales, Distribution costs, Administration expenses, Other expenses, Finance cost.b) Classifying expenses by nature:Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of expenses
Q. Explain Statement of Financial Condition? Statement of Financial Condition -Elementary FINANCIAL STATEMENT, generally accompanied by appropriate DISCLOSURES which describe t
INTRA COMPANY ADJUSTMENTS In preparing the consolidated balance sheet, the following items may require adjustments:. 1 Goodwill 2 Unrealized profit on closing inventory 3
equity share capital rs 10 200 10% preference share capital 80 15% debenture 20 profit before interest and taxes 60 proposed dividend 20 provision fo
I have a presentation on an article (around 20 pages). I also need 2 current real life examples (2 companies) to support the presentation. Can you do that? How long it will take yo
Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10
PROOF OF DEBTS The following rules apply as to the proving of debts: 1) A creditor has no right to vote or receive dividends until his debt is proved to the satisfaction of th
You were hired as a consultant to Giambono Company, whose target capital structure is 40% debt, 15% preferred, and 45% common equity. The after-tax cost of debt is 6.00%, the cost
Discuss the advantages and disadvantages of different types of financing: 1. Issuing bonds 2. Borrowing from Bank 3. Equity financing
Dissolutions situations There are two situations that need to be considered under dissolutions. These are:- 1) Where the assets are sold at once (one single transaction) 2) As
A classmate is considering dropping his or her accounting class because he or she cannot understand the rules of debits and credits. Explain the rules of debits and credits in a wa
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