A 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
Premium Balance sheet Generally Accepted Accounting Principles Asset
Indian Journal of Chemistry Vol. 49A‚ December 2010‚ pp. 1593-1600 Characterization and photocatalytic activity of SiO2-TiO2 mixed oxide nanoparticles prepared by sol-gel method Ali Mahyar*‚ Mohammad Ali Behnajady & Naser Modirshahla Department of Applied Chemistry‚ Faculty of Science‚ Islamic Azad University‚ Tabriz Branch‚ Tabriz‚ Iran Email: alimahyar@hotmail.com Received 9 August 2010; revised and accepted 15 November 2010 SiO2-TiO2 mixed oxides have been prepared by sol-gel technique from titanium
Premium Oxide Oxygen
one period of time. | | | |b. estimates should not be made if a transaction affects more than| | | |one time period. | | | |c. adjustments to the enterprise ’s accounts can only be made in | | | |the time period when the business terminates its operations. | | | |d. the economic life of a business can be divided into artificial | | | |time periods.
Premium Generally Accepted Accounting Principles Balance sheet Depreciation
examples. (10 Marks) 2. Explain any two types of errors that are disclosed by trial balance with examples and rectification entry. Note - Avoid giving examples given in the self learning material. (10 marks) Nov 2010 3. Let us assume you have been recently appointed as Management Accountant of a small but upcoming firm. Your immediate supervisor has asked you to prepare certain financial ratios from the balance sheet of one of their clients M/s Vinod Enterprise. Liabilities Amount Assets Amount
Premium Debt Balance sheet Financial ratio
Accounting Project SHAREHOLDER’S FUNDS Shareholders’ funds are the balance sheet value of the shareholders’ interest in a company. For company (as opposed to group) accounts it is simply all assets less all liabilities. For consolidated group accounts the value of minority interests should also be excluded. The addition of minority interests gives us “shareholders’ fund including minority interests”. A further adjustment gives us total equity. SHARE CAPITAL The capital collected by a joint
Premium Stock Generally Accepted Accounting Principles Balance sheet
chart of accounts? Chart of accounts (COA) is a list of the accounts used by an organization. The list can be numerical‚ alphabetic‚ or alpha-numeric. The structure and headings of accounts should assist in consistent posting of transactions. Each nominal ledger account is unique to allow its ledger to be located. The list is typically arranged in the order of the customary appearance of accounts in the financial statements‚ profit and loss accounts followed by balance sheet accounts. It is
Premium Generally Accepted Accounting Principles Balance sheet Revenue
Accounts Receivable: There are several controls in accounts receivable. A thorough audit should be daily comparing the checklist and the system records in customers’ accounts. This is to ensure the payment received is applied to the right customer. A second control is to check if customers’ balances in record are true. One simple way is to send current statements to customers monthly. Customers can help identify if there is any discrepancy between their record and the account statement. A
Premium Accounts receivable Invoice
CXC CSEC Principles of Accounts Exam Guide Section 1: Introduction to Principles of Accounts SPECIFIC OBJECTIVES The students should be able to: CONTENT 1. Explain the concept of accounting; concept of “Accounting” and “Principles of Accounting” 2. State the purpose of accounting; Accounting as a business practice – the purpose of Accounting. 3. Identify the users of accounting information; Internal and external users Accounting information and their needs 4. Outline
Premium Corporation Limited liability company Business
Uncollectible Accounts Lesley-Ann Herard ACC 281 John Istvan November 17‚ 2014 Uncollectible Accounts Charity care in a health care environment gives patients reduced or even free services to those who have low incomes. The idea of charity care was associated to the way hospitals helped low- income families. The write-offs and potential costs that are provided to the patients are determined before anything is done. It is up to the discretion of the hospital if any or all the cost is
Premium Accounts receivable Debt Hospital
The December 26‚ 2004 Sumatran Tsunami [pic] On the morning of December 26‚ 2004 a magnitude 9.3 earthquake struck off the Northwest coast of the Indonesian island of Sumatra. The earthquake resulted from complex slip on the fault where the oceanic portion of the Indian Plate slides under Sumatra‚ part of the Eurasian Plate. The earthquake deformed the ocean floor‚ pushing the overlying water up into a tsunami wave. The tsunami wave devastated nearby areas where the wave may have been as high as
Premium 2004 Indian Ocean earthquake Tsunami Earthquake