What are 9 things that are needed to be reported in the financial statements?

Q: What are the four basic financial statements? Describe the information that can be found on each…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: and define six major elements of accounting

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Q: /hen an accountant calculates different parts of a financial statement in terr fa percentage of the…

A: Solution: Vertical analysis is a method of analyzing the financial statements of a company. Under…

Q: What are accounting standards and summarise 10 accounting standards.

A: Accounting Standards Accounting body or a regulatory board issues accounting standards. Accounting…

Q: write the importance of Financial Information and its distribution in 5 key points/headings

A: A financial statement is prepared by the company in order to retain the accounts and financial…

Q: List the four financial statements. Briefly describe each statement?

A: The four basic financial statements are as follows:Balance sheet.Income statement.Statement of cash…

Q: List the five account categories, specify their natural balance and which financial statement they…

A: Financials statements are prepared for analysis of different operational aspects of business such as…

Q: Describe the four basic financial statements.

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Describe the basic accounting equation that provides thestructure for the balance sheet. Define the…

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Q: What is the list in which all accounts to be used in accounting transactions are systematically and…

A: Accounting means the record and summary of all the business transaction and calculate the profit of…

Q: How many members minimum appointed to prepare the financial accounting statement of International…

A: What is the International accounting standard board? It is a predecessor body of IFRS formed in…

Q: Identify the four financial statements, describe the purpose of each and identify the order in which…

A: Financial Statement Financial statements are official records of a person, business, or other…

Q: What are the steps to be taken in preparing IFRS financial statements for the first time?

A: IFRS: International Financial Reporting Standard is abbreviated as IFRS. The IFRS is set up to bring…

Q: 1. Describe the difference between the types of accounts in the Balance sheet and those in the…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

Q: Four types of financial statements prepared for investors and regulators.

A: A company prepares financial statements every period for presenting the performance of the company.…

Q: What are the eight overall considerations to be applied in the presentation of financial statements

A: The eight considerations are:1. Fair presentation and compliance with standards 2. Going concern 3.…

Q: What are the 3 most important financial statements?

A: Every business prepares these statements.

Q: Describe about any five elements of financial statement?

A: Financial Statement:   A financial statement is the complete record of financial transactions that…

Q: t three (3) issues associated with the annual report and the broader area of financial reporting…

A: Financial reporting refers to the process of collecting and recording all the financial transactions…

Q: When employees choose a company through financial statements, which parts ，point  and ratio should…

A: Financial statement: Financial statements are organized summaries of detailed information about the…

Q: What are the current account, financial account, and balance sheet accounts? How are they useful in…

A: Financial accounting seems to be a subset of accountancy that involves a technique of recording,…

Q: List and explain the five elements of financial statements.

A: Financial Statements are prepared to know the performance of an entity under Periodicity Concept. It…

Q: a. provide 5 facts about financial statements (with explaination) b. complete the table below.

A: A financial statement means such a statement that provides information on financial records. the…

Q: List and explain five characteristics of financial statements.

A: The characteristics of financial statements is been into two categories as fundamental qualitative…

Q: What are the four financial statements? Define them.

A: Financial statement is the written record of the company's business and it convey the financial…

Q: Explain the FOUR (4) financial statements?

A: Financial statements are those statements which are prepared at the end of the year to analyse the…

Q: What do you understand by the term 10 column worksheet in accounting

A: Accounting is the analysis and interpretation of bookkeeping records. It includes not only the…

Q: There are four basic assumptions of financial accounting: (1) economic entity, (2) fiscal period, (3)…

A: Among the given four assumptions let us choose assumption (2) Fiscal period

Q: What are the four types of financial statements in accounting?

A: Accounting:   Accounting is the art of recording, classifying and summarizing in a significant…

Q: Describe the four financial statement and how they are prepared?

A: Financial statements provide the true picture of the affairs of the company to the internal…

Q: What are the four types of financial statements and how are they important in accounting?

A: FINANCIAL STATEMENTS ARE THE RECORDS MADE BY A COMPANY THAT CONVEY BUSINESS ACTIVITY AND FINANCIAL…

Q: What are the six major elements of accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Identify four other users of financial statements and explain their inf

A: The users of the financial information are the ones who read the financial statements of the company…

Q: what are 5 types of assets not included ob balance sheet?

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Q: Show the expanded accounting equation using the 10 elements of financial accounting.

A: The accounting equation is expressed in the form al an equation, that is, an asset must be equal to…

Q: E5.4B List five examples of items/events which need to be disclosed on the financial statements and…

A: Below are the five examples of the events or items which are disclosed on the financial statements…

Q: What are five basic components of an accounting system?

A: Accounting information systems: Accounting information systems collects data from different events…

Q: Describe three ways you would identify if a financial statement is a special purpose financial…

A: The reports that are prepared by the management of to represent the financial performance of a…

Q: 1. Explain in detail “The difference between GAAP and IFRS in respect of preparing Balance Sheet and…

A: “Since you have posted many question, we will solve one for you. To get the questions solved please…

Q: What information should be included in the heading ofeach of the four primary financial statements?

A: In the headings of each of the financial statements one thing that must be included is date at the…

Q: Give

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Q: PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is