Why are financial statements prepared in a specific order? What is that order?

Q: What is the notes to financial statement? Describe its content.

A: Financial statements  consists of profit or loss account, balance sheet,cash flow statement  and…

Q: What are the pro forma financial statements?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What is analysis of financial statements?

A: Explain the  meaning of financial statement analysis:Financial statements: Financial statements are…

Q: Who are some of the basic users of financial statements, and how do they use them?

A: There are many users of the financial statements produced by an organization. The following are the…

Q: measurement of the value of an item appearing in the Financial Statements

A: Option 1 is wrong because the value of property, plant and equipment may appear at fair value, not…

Q: What does the balance sheet statements summarize?

A: This financial statement reports a company’s resources (assets) and claims of creditors…

Q: What are the three main ways to analyze financial statements?

A: Financial Statement Analysis: It is an evaluation process where the financial statements of a…

Q: what are The elements of financial statements

A: The company's aim will be increase the profits of the company. The income statement of the company…

Q: What is the meaning of financial statements? What are the types of financial statements? what are…

A: Financial statement (FS) refers to those statements of the company which shows the company’s…

Q: Define financial statements.

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: What are the financial statements?

A: Financial statements:Financial statements are a written record which convey the financial…

Q: Which of the following elements of financial statements is most closely related to measurement of…

A: The financial statements comprises of income statement, balance sheet and cash flow statement.…

Q: What is meant by the statement that the financial statementsarticulate ?

A: The statement “financial statements are articulated" means that measurements in the balance sheet…

Q: what are the Measurement bases – elements of financial statements ?

A: Financial statements are the records maintained by the company to record the business transactions…

Q: . Explain the main elements of Financial Statements in detail.

A: main elements of financial statements of are - - Assets  - liabilities - equity - incomes - expenses…

Q: What's the connection between the income statement and the balance sheet

A: This question deals with  the connection between the income statement and the balance sheet

Q: Who are the providers of financial information? Name them.

A: Financial Information of any organization is provided in its financial reports. These reports are:…

Q: Define the term financial statements?

A: Financial Statements: When the accounting period ends, there is a need to report and communicate the…

Q: The information provided by financial statements is in nature.

A: Financial statements: These refer to the formal or official records of the activities of the…

Q: Define a compensating balance. How are compensating balances reported in financial statements?

A: Compensating balance: A compensating balance is a minimum amount of cash that must be maintained by…

Q: Describe the purpose of financial statements.

A: Definition:   Financial statements: Financial statements are condensed summary of transactions…

Q: What is the General Purpose Financial Statements and describe its purpose

A: General Purpose financial Statements General purpose financial statements are those financial…

Q: What document are financial statements prepared from?

A: Financial statements are prepared from the records of accounting equation, Journal entries, general…

Q: Explain what makes information in financial statements relevant to use

A: Solution- I think Cash flow statement is the most important for investor to look at although he gets…

Q: Describe the points how to prepare financial statements.

A: Financial Statement:   It refers to the records of an organisation that reports the business…

Q: WHAT IS THE MEANING OF FINANCIAL STATEMENT?

A: Financial statements are the written records of the business activities which show the financial…

Q: WHAT IS THE PURPOSE OF FINANCIAL STATEMENT?

A: Financial statement - are prepared by the management  of a company to convey the performance of the…

Q: What is the correct date line for a statement of financial position?

A: Answer: as at  December 31st, 2015

Q: What are the objectives of preparing financial statements?

A: Introduction:   Financial statements are written papers that summaries the commercial activities and…

Q: Explain what are the elements of financial statements?

A: The elements of financial statements are as follows: Assets Liabilities, Equity, Revenues and…

Q: What is the relationship among the financial statements?

A: Financial Statements: These are records of the activities relating to finance and business. The…

Q: How could a worksheet help in preparing financial statements?

A: Work Sheet:   It is a tool to prepare accounting information and reports. It is an internal…

Q: Who are the various users of Financial Statements?

A: Financial statements are the records or documents in which the overall picture of the business is…

Q: Questions: What is the importance of preparing financial statements? Enumeraté the complete set of…

A: Financial statements are important because of the following reason:   1. Financial statements…

Q: When it comes to financial statements and financial reporting, what's the difference?

A: Financial statements and financial reporting will be explained:

Q: what is financial statement? and other financial?

A: Financial statements apply to those statements which at the end of accounting period reflect on the…

Q: What Are Financial Statements? Name The Major Financial Statements?

A: Financial Statements are very important documentation of an organisation's financial matters and…

Q: What do the financial statements include?

A: Financial statements are basic as they give significant insights concerning the money related…

Q: What is the most important financial statement?

A: Financial statements: These refer to the formal or official records of the activities of the…

Q: What does the purpose of compare financial statement?

A: comparing of financial statement refers to the act of comparing the current year's performance with…

Q: The synonyms of financial statements are? a. Financial analysis b. Financial reports c. Financial…

A: Financial statements are those statements which are prepared at the end of accounting period in…

Q: How to prepare statement of financial position

A: Financial statement is prepared from the trial balance which include :- Profit and loss and…

Q: What are the usefulness of financial statements

A: >Financial statements are the public documents, and are prepared at the end of period as part of…

Q: Describe the elements of financial statements.

A: Financial Statements are statements prepared at the end of accounting period to analyse financial…