Objective of financial statements[edit] Financial statements are a structured representation of the financial position and financial performance of an entity. The objective of financial statements is to provide information about the financial position‚ financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. Financial statements also show the results of the management’s stewardship of the resources entrusted to it.[1] To meet this objective
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network of electrical home mechanism and an international distribution network. The trademark “Pensonic” is registered in Malaysia and is targeted for eventual registration in over 20 countries. As an extension to the company’s structure‚ Pensonic has two subsidiary companies that respectively own “Cornell”‚ a brand from the USA and obtained the sole-distributorship in Malaysia for internationally renowned brands such as GE Appliances of the USA and Morphy Richards of the UK. Pensonic’s success had been
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CHAPTER 3 THE REPORTING ENTITY AND CONSOLIDATED FINANCIAL STATEMENTS ANSWERS TO QUESTIONS Q3-1 The basic idea underlying the preparation of consolidated financial statements is the notion that the consolidated financial statements present the financial position and the results of operations of a parent and its subsidiaries as if the related companies actually were a single company. Q3-2 Without consolidated statements it is often very difficult for an investor to gain an understanding
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Central Business District area are better in the sense that they provide a higher level of quality and variety of goods than the shopping centres in the residential areas. Aims and objectives: * Our general objective is to compare and contrast two shopping centres in the Central Business District (CDB) against another two shopping centres in the residential areas. We are also keen to investigate the various factors that influence the people’s decision to patronise the particular shopping centres
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Ethical Dimensions of Financial Accounting with Respect to the Keeping of Two Sets of Records. Ateneo Graduate School of Business Managerial Accounting Assignment 1 Submitted to: TSMANACC By AR2012 Financial accounting serves to provide useful financial information to help stakeholders make economic decisions through financial reports. There are various stakeholders that use financial reports to promote their varying interests. Among the various stakeholders with varying
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item on the agenda‚ performing research and issuing a discussion memorandum‚ having a public hearing on the DM‚ performing more research and issuing an exposure draft‚ providing additional time to receive input from the public‚ and passing a final standard. CA 1-2 · The objective of financial statements emphasizes a stewardship approach for reporting financial information. True · The purpose of the objective of financial reporting is to prepare a balance sheet‚ an income statement‚ a statement
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Bi 101 Lecture Exam Two Study Objectives: Chapters 5‚ 6‚ 7 All concepts and vocabulary are fair game in Chapters 5-7 Chapter Five: ………….. Membranes Evaluate the importance of membranes to the homeostasis of the cell‚ emphasizing their various functions Explain how the properties of the lipid bilayer govern many properties of the cell membrane (ie understand the chemical lipid bilayer structure—what does “hydrophobic” and “hydrophilic” mean?) Discuss the general types‚ functions‚ and
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Step 2 Define Goals and Objectives Overview: “What are goals and objectives?” Goals are general guidelines that explain what you want to achieve in your community. They are usually long-term and represent global visions such as “protect public health and safety.” Objectives define strategies or implementation steps to attain the identified goals. Unlike goals‚ objectives are specific‚ measurable‚ and have a defined completion date. They are more specific and outline the “who‚ what‚ when‚ where
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Explain the views of at least 3 main stakeholders for each of your businesses What are the aims and objectives of the business? Who are the main stakeholders? What are they trying to achieve from influencing the organisation? What is their impact? Burger King The main aims and objectives of Burger King would of initially been to survive and establish themselves‚ but now as they are a huge global business they will want to become the number one fast food restaurant‚ expand (have more restaurants)
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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