Ias 7 Definition

IAS 7 Cash flows are inflows and outflows of cash and cash equivalents. So the deposit on your account is NOT the cash equivalent because its not convertible within 3 months you just cant touch it. The International Accounting Standards Board Board issued an amendment to IAS 7 Statement of Cash Flows that became effective […]

Shareholders Equity And Liabilities

The parts comprise of assets liabilities and Equity. Take the sum of all assets in the balance sheet and deduct the value of all liabilities. The amount of Stockholders Equity is exactly the difference between the asset amounts and the liability amounts. Total assets are the total of current assets such as marketable securities. Ad […]

Balance Sheet Assertions Audit

These assertions are classified into the following four items. What are Assertions in Auditing. Over 1M Forms Created – Try 100 Free. These representations may be explicit or not. Edit Save Print Balance Sheets – Easy To Use Platform – Try 100 Free Today. Audit Assertions for Share capital. Balance sheet assertions audit. Management Assertions […]

Statement Of Other Comprehensive Income

Other comprehensive income OCI is part of stockholders equity on the balance sheet and is not part of the income statement. The net income is the result obtained by preparing an income statement. Other comprehensive income OCI is an accounting item for firms that includes revenues expenses gains and losses that have yet to be […]

Bank Indebtedness Cash Flow Statement

Financial Accounting Chapter 2. Cash flows are classified into three categories. SAMPLE CASHFLOW STATEMENT Company XYZ Limited STATEMENT OF CASH FLOWS For the year ended 31 December 2019 Current Year Previous Year Previous Year 2019 2018 2017 Cash. Ad QuickBooks Financial Software. Your banker is allowed to demand you to sell your. Bank of America […]

Uses Of Accounting Ratios

Two principal limitations of accounting ratios are given below. Ideal ratios can be established and the relationships between primary ratios may be used to establish the desirable co-ordination or balance. A financial ratio or accounting ratio is a metric used to determine the efficiency and profitability of a company derived from its financial statements. These […]

Net Financial Position Definition

Financial position is the current balances of the recorded assets liabilities and equity of an organization. As such it provides a snapshot of the financial condition of a business as of a specific date. It is calculated by subtracting a companys total liabilities from its total cash. NFP stands for Net Financial Position. Restricted represents […]