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THE NOTES TO THE ACCOUNTSThe notes to the accounts provide additional information on the a/c policies that the company has adopted the make-up of some of the items appearing on the face of the financial accounts and additional information on items not provided for in the accounts.
IAS 1 does not give the standard format of the notes to the accounts and that this would vary from one company to another. However, the standard requires the following approach to be used when presenting the notes to the accounts.1. The company should state the basis of financial statement (most cases historical basis of accounting)2. The company should present the significant policies adopted3. The make-up of some of the items appearing on the face of the final accounts e.g. PPE and inventory.4. Explanation of items not provided for in the final accounts (e.g. Dividends)An example of the notes to the accounts examined within the scope.
what is the purpose financial statement
During 2012, Kimmel Co. incurred average accumulated expenditures of $600,000 during construction of assets that qualified for capitalization of interest. The only debt outstanding
Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. Ksh.000 Account payable 15,800 equipment 46,000
USING PROPER ILLUSTRARTION,ELLOBORATE ON THE REGULATORY FRAMEWORK THAT SUPPORTS FINANCIAL REPORTING IN NON PROFIT ORGANISATIONS.
General limitations of Net Present Value when applied to investment appraisal NPV is a generally used technique employed in investment appraisal but is subject to a number of r
What are some examples of co branded foods? is cool ranch doritos one?
Q. Evaluate Value of rights per existing share? Rights issue price = 4·00 × 0·85 = $3·40 Theoretical ex rights price = ((5 × 4·00) + 3·40)/6 = $3·90 Value of rights per e
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“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
How useful is accounting information? No one would seriously claim that accounting information fully meets all of the needs of every various user groups. Accounting is still a
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