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What is the financial objective of a business
A business is created to enhance wealth of its owners. This may come as a surprise, as there are other objectives which a business may pursue that are related to needs of others associated with the business. For instance, a business may seek to provide good working conditions for its employees, or it may look forward to conserve the environment for local community. Whereas a business may pursue these objectives, it's generally set up with a view to increasing the wealth of its owners. Practically, behaviour of businesses over time appears to be consistent with this objective.
what is the purpose financial statement
1.From the following information you are required to prepare a cash Flow statement of XYZ Ltd for the year ended 31 st December 2009 LIABILITIES
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Do we recognise revenue if it will be assigned to other party ?
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