CHAPTER 2 – Investing and Financing Decisions and the Balance Sheet I. THE OBJECTIVE OF FINANCIAL REPORTING‚ THE ELEMENTS OF THE BALANCE SHEET‚ AND THE RELATED KEY ACCOUNTING ASSUMPTIONS AND PRINCIPLES. A. Primary objective of financial reporting 1. To provide useful economic information about a business to help investors and creditors make good financial decisions. a. Decision makers are expected to have a reasonable understanding of accounting concepts and procedures
Premium Balance sheet Generally Accepted Accounting Principles
term historical cost helps to distinguish an asset’s original cost from its replacement cost‚ current cost‚ or inflation-adjusted cost. For example‚ land purchased in 1992 at cost of $80‚000 and still owned by the buyer will be reported on the buyer’s balance sheet at its cost or historical cost of $80‚000 even though its current cost‚ replacement cost‚ and inflation-adjusted cost is much higher today. The cost principle or historical cost principle states that an asset should be reported at its cost
Premium Balance sheet Depreciation Asset
Debit • Credit • BOP must be in equilibrium • Balance of payments in Pakistan • Causes of adverse balance of payments • Measures to correct BOP • Conclusion Introduction: Balance of payments refers to sum of both the balance of visible and invisible items. The balance of Payment is a comprehensive annualrecord of economic relation of a country with the rest of the world during a given period of time. A balance of payments (BOP) sheet is an accounting record of all
Premium International trade Balance of trade Export
atetheEffectsofClimateChange/1/ http://www.state.gov/p/wha/rt/climate/ https://www.google.com/webhp?sourceid=chromeinstant&rlz=1CAZZAC_enUS602US602&io n=1&espv=2&ie=UTF8&safe=active&ssui=on#q=moral%20obligation%20definition&safe=acti ve&ssui=on http://www.merriamwebster.com/dictionary/mitigate https://www.google.com/webhp?sourceid=chromeinstant&rlz=1CAZZAC_enUS602US602&io n=1&espv=2&ie=UTF8&safe=active&ssui=on#safe=active&q=developed+countries+definitio n http://www.ipcc.ch/publications_and_data/ar4/wg3/en/ch2s252
Free Developed country Developing country Cyprus
Accounts receivable is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customer’s order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the
Premium Accounts receivable
number of passengers‚ and high enough to allow traffic to pass beneath them. Apparently‚ the test runs for the bus in China are not yet complete or even underway‚ but the huge buzz they generated has been enough for the creators to already set sight on the US of A. U.S. Elevated High-Speed Bus (Group) is looking for manufacturers‚ and representatives to sell the bus in the United States. The bus can carry 1200 passengers‚ and will ride on rails or yellow lines outside the traditional traffic lanes. Interesting
Premium Road Miles per hour Public transport
National Accounts • Gross Domestic Product (GDP) measures the final value of all goods and services that are produced within a country in a given time period. • There are 4 types of expenditure: 1. 2. 3. 4. Consumption: expenditure by domestic residents Investment: expenditure by firms on plants & equipment Government purchases: expenditure by governments on goods and services Net exports (exports minus imports): net expenditure by foreigners on domestic goods and services 1 GDP
Premium International economics Balance of payments Balance of trade
QUESTION 2 (25%) Top and Middle are in partnership‚ sharing profits and losses in proportion 75% and 25%. The partnership agreement provided as follows: (a) Interest at the rate of 10% per annum is to be allowed on the partners’ Capital Account balances. (b) Interest on drawings was to be calculated at 4% per annum. (c) Top was allowed a salary of RM400 per month. (d) Interest on partner loan was 6% per annum. Trial Balance As At 31 December 2009 RM Capital : Top : Middle Current Account : Top : Middle
Premium Debt Generally Accepted Accounting Principles
A PROJECT REPORT On Demat Account A project Report submitted In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) TO [pic] MADURAI KAMARAJ UNIVERSITY‚MADURAI BY PRAVEEN KUMAR Reg No.A8750123 Under the guidance of MS.Srishti Sharma RAI BUSINESS SCHOOL 56/1‚NEAR DEPOT SQUARE‚BHADBHADA ROAD‚BHOPAL (M.P.) PREFACE The successful completion
Premium Reliance Anil Dhirubhai Ambani Group Companies based in Mumbai Financial services
BALANCE OF PAYMENT (BOP) Introduction: Balance of payments (BOP) is a record of economic transitions between the residents of one country and the rest of the world during one year. The balance of payment like all balance sheets must balance. The items‚ which lead to‚ an inflow of foreign earnings are placed on the credit side of the balance sheet‚ whereas the items‚ which give‚ rise to an outflow of foreign currency are placed on the debit side. Definition: “Balance of payment is a systematic
Premium International trade International economics Balance of payments