COURSE 2 - The Balance Sheet The balance sheet (also called statement of financial position) reports the financial position of the business at a point in time. It does so by listing the categories and amounts of assets‚ liabilities and equity on a specific date‚ in a format that proves the fundamental accounting equation. ASSETS = EQUITY + LIABILITIES or ASSETS – LIABILITIES = EQUITY Formats of presentation Regardless of
Premium Balance sheet Generally Accepted Accounting Principles Asset
CHAPTER 17 PROCESS COSTING 17-1 Industries using process costing in their manufacturing area include chemical processing‚ oil refining‚ pharmaceuticals‚ plastics‚ brick and tile manufacturing‚ semiconductor chips‚ beverages‚ and breakfast cereals. 17-2 Process costing systems separate costs into cost categories according to the timing of when costs are introduced into the process. Often‚ only two cost classifications‚ direct materials and conversion costs‚ are necessary. Direct
Premium Units of measurement Costs Inventory
In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses( architect’s
Premium Cost Inventory Material
similar assets or liabilities are recognized by the lessee when the lease is classified as an operating lease. The lessee recognizes lease payments under an operating lease as an expense‚ normally on a straight-line basis over the lease term. Under IAS 17 Leases lessors are required to classify leases as finance leases or operating leases. Finance leases are defined as leases that transfer substantially all the risks and rewards incidental to ownership. All other leases are operating leases. If the
Premium Lease Finance lease Depreciation
Artificial electrical stimulation of the nervous system is one of the foundations of neurotechnology. However‚ the use of electrical currents to stimulate the nervous system presents several challenges. It is difficult to achieve selective stimulation of only the targeted neurons without activating neighboring neurons. Further‚ electrochemical reactions at the electrode-tissue interface may lead to electrode dissolution or tissue damage. As an alternative‚ magnetic stimulation can be used to stimulate
Premium Neuron Action potential Nervous system
most important‚ the nervous system. The nervous system functions as the control center of the body‚ and it is in charge of the activities of the rest of the organs systems and the body’s components (Marieb‚ E.N. & Hoehn‚ K.). It helps the body communicate external environmental factors via electrical impulses that are transmitted through cells called neurons. These neurons can be up to a meter long and target a specific effector which it will help
Premium Nervous system Neuron
NHL 17 wishlist is the a list of things that player would like to have when playing matches. They are: Imрrоvеment in NHL 17 Stаdium: Evеrуоnе loves the diѕtinсt group аrеnаѕ thаt NHL has сrеаtеd. Thеу hаvе rеаllу dеѕignеd thеm with uѕе оf роtеntiаl tаlеnt аnd remarkable creativity. Whеthеr it is аnу other unique arena‚ a majority of these diѕрlау the uniԛuе wауѕ of celebrations аnd еntеrtаinmеnt; however thе regular аrеnа iѕ missing from ѕuсh sort оf leisure. They may be dеѕignеd with mоrе scoreboard
Premium Ice hockey Love Family
The balance sheet‚ income statement and cash flow statement are closely related. Basically‚ a balance sheet describes a company’s assets‚ liabilities and stockholder’s equity in a specific period of time. An income statement mainly shows the net profits or loss of a company. The purpose of the income statement is to show stockholders and investors whether the company earned or lost money. A cash flow statement explains cash inflows and outflows. Each financial statement reveals a part of a company’s
Premium Generally Accepted Accounting Principles Financial statements Balance sheet
balance sheet‚ like a photo‚ provides a financial picture of a company on a given day and time. It categorizes all of a company’s resources as assets‚ all of its debts as liabilities‚ and all of the owner’s investments as equity. A company uses its assets‚ such as accounts receivable‚ inventory‚ and equipment‚ for manufacturing or purchasing products for sale or to provide a service. A company’s assets are financed by its liabilities (debt) and the owner’s equity (net worth). On a balance sheet‚ the
Premium Balance sheet Generally Accepted Accounting Principles Asset
A balance sheet is a financial statement that reports the assets‚ which are resources owned by a business‚ liabilities‚ and stockholders’ equity at a specific date. Examples of assets would be computers‚ delivery trucks‚ furniture‚ and buildings. A balance sheet has two categories: Assets‚ liabilities‚ and stockholders’ equity. Liabilities are the debts and obligations of a business. Liabilities represent c claims of creditors on the assets of business. Examples of liabilities would be notes
Premium Generally Accepted Accounting Principles Income statement Balance sheet