Accounting and financial statement • Business going concern- dobry interes = IT WILL CONTINUE INTO THE FUTURE Current market value of its fixed assets is irrelevant‚ they’re not for sale. Fixed assets-środki trwałe. • NET BOOK VALUE->>Historical cost accounting = assets at original purchase price –accumulated depreciation charges. WARTOŚĆ KSIĘGOWA NETTO historyczna kalkulacja kosztów = aktywa w oryginalnej cenie zakupu-zgromadzone odpisy amortyzacyjne
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parties that may ultimately rely on the client’s financial statements? Should auditors insist that audit engagement letters identify the third parties to whom the client intends to distribute the audited financial statements? Would this practice eliminate auditors’ legal liability to nonprivity parties not mentioned in engagement letters? During an audit it is the auditors responsibility to give their opinion on a company’s financial statements to its shareholders. However‚ the main purpose of
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Prepare a Set of Financial Statements Samson Company adjusted account balances as of December 31‚ 2005 are as follows (some noted balances are Jan. 1‚ 2005): Sales . . . . . . . . . . . . . . . . . . . . . . . .1‚200‚000 Purchases . . . . . . . . . . . . . . . . . . . . . . 810‚000 Marketable securities . . . . . . . . . . . . . . . . 15‚000 Purchase discounts . . . . . . . . . . . . .
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AUDITOR’S REPORT [pic] [pic] NOTES TO FINANCIAL STATEMENTS 37.3 Fair values of financial assets and liabilities Fair value is the amount for which an asset could be exchanged‚ or a liability settled‚ between knowledgeable willing parties in an arms length transaction. Notes to the Financial Statements for the year ended June 30‚ 2008 (b) Credit risk Credit risk represents the risk of a loss if the counter parties
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Financial Statements Paper � PAGE * MERGEFORMAT �3� Financial Statements Paper One of the primary means of measuring success in a business is profit. Accounting provides the means to measure the various factors that affect the finances of a business by identifying‚ recording‚ and communicating economic events that affect a company (Weygandt‚ 2008). Because various factors can influence an organization ’s financial situation‚ the role of accounting is vital in which these three activities are conducted
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www.persistentsys.com Persistent Systems Presentation © 2013 Persistent Systems Ltd 14 of Top 20 technology companies in the world are our customers 23 Years in business Named a “Leader” in the IAOP 2013 Global Outsourcing 100 service providers list – IAOP 2 “2013 Computerworld Honors Laureate” – ComputerWorld The Practice 3000+ Product releases in last 5 years Publically listed (BSE‚ NSE) $237.8M FY13 revenue Rs 1‚294.51 Crore FY13 revenue
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Financial Statements – Understanding the Framework Done by: Yaazdan Katrak Cardiff MBA Feb ‘13 Roll No: 1309 Through this framework we learn how to prepare financial statements by applying accounting standards‚ allows the board to regulate the rules‚ provides detailed information to those interested in accounting and helps financial users to interpret the information. The Scope of this framework is to deal with the objective of financial statements‚ the qualitative characteristic that determines
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understand the purpose behind the presentation of financial statements‚ we must figure out why they are important. A company’s financial statements provide various financial information that investors and creditors use to evaluate a company’s financial performance. Financial statements are also important to a company’s managers because by publishing financial statements‚ management can communicate with interested outside parties. A company’s financial conditions are of a major concern to investors and
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Analyzing Financial Statements Elizabeth Black HSM/260 October 16‚ 2011 Denise Lindley University of Phoenix Analyzing Financial Statements XYZ Corporation Years 2003/2004/2002 (Respectively Listed One Page after Another) 2003 Current Ratio | | | | | | | | | | | | | | | | | Current Ratio = | Current Assets | | $82‚058.00 | | | 0.87 | | | Current Liabilities | | $93‚975.00 | | | | | | | | | | | | | | | | | | | | | | Long-Term Solvency
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Material- Financial Statement Review of WalMart 2014 What is the net income for the current fiscal year? Is it up or down from the prior year? Why would this information be important to investors? The net income of the company for the current fiscal year is $26‚872 million. This year net income has decreased from last year (2013) net income of $27‚725 million. The continuous increase in prior years shows the profitability in WalMart. The trend of increase in net income can be seen as below:
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