Business, 14.01.2020 05:31 abbie722

Reporting the financial condition of a business at a point in time and reporting the changes in the financial condition of a business over a period of time are the two major objectives

Answers: 1

Show answers

Answers

Answer from: hannahmjohnson0443

Financial Accounting/Financial Statement

Explanation: Financial accounting/statement is the record keeping procedure of an organisations activity. It includes the record keeping of an organisations daily, monthly and yearly activity and the production of a report to show how the organisations activity have been kept.

This has to do with how profitable an organisation is in a month, a year and over a specified period of time.

The main objectives of a financial accounting/ statement is to report the financial condition of a business at a point in time and to report the changes in the financial condition of a business is over a period of time.

This will help the organisation in their decision making process.

Answer from: desireeandrada9

The chief accounting officer

Explanation:

The chief accounting officer of a business organizations is charged with the responsibility of preparing the financial statements of the business which shows the financial position of the business for the period under review. The financial statements prepared by the accountant to show the financial position of the business could be in the following forms

Income statement : The income statement is the account prepared in order to show the financial performance of the business in the period under review. The income statement shows the ultimate result of the business efforts for the accounting period by indicating the net profit or loss made by the business in the accounting period.

Balance sheet : This is prepared to present a true and fair view of the financial position of the business at a given date. It a statement which shows the debit and credit balances of assets and liabilities of the business in the accounting period. It is prepared from the balances of the account that remains open on the books after the preparation of the trading profit and loss account or income statement of the business.

Cash Flow statement : This is a statement prepared in order to show the flow of cash into and out of the business within the accounting period. Cash is the most important current asset for the operation of a business and it should be readily available to carry out all the activities of the business. It is needed in order to ensure the solvency of the business.

Statement of owners Equity : This is a statement prepared in order to show the shareholders equity in the business. It includes the shares issued out to the investors, dividend paid by the business to shareholders, the retained earnings, the business net income in the period under review.

Answer from: Quest

b. take periodic breaks and alternate between tasks.

will increase work efficiency, and avoid health issues.

Answer from: Quest

Yes it is why ..

Another question on Business

Business, 22.06.2019 13:20

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th withdraw?

Answers: 3

Answer

Business, 22.06.2019 19:30

When it is 4: 00 a.m. in halifax, it is 1: 00 p.m. in karachi, and when it is 9: 00 a.m. in karachi, it is 5: 00 a.m. in warsaw. mary left halifax to fly to karachi, but she accidentally left her watch on warsaw time. according to mary’s watch, she left halifax at 9: 40 p.m. on monday. the local time when she arrived at karachi was 3: 00 p.m. tuesday. how long was mary’s flight? a. 9 hours, 20 minutes b. 13 hours, 20 minutes c. 14 hours, 20 minutes d. 17 hours, 20 minutes

Answers: 1

Answer

Business, 22.06.2019 20:40

Helen tells her nephew, bernard, that she will pay him $100 if he will stop smoking for six months. helen was hopeful that if bernard stopped smoking for six months, he would stop altogether. bernard stops smoking for six months but then resumes his smoking. helen will not pay him. she says that the type of promise she made cannot constitute a binding contract and that, furthermore, it was at least implied that he would stop smoking for good. can bernard legally collect $100 from helen

Answers: 1

Answer

Business, 22.06.2019 21:00

There is just one person in our group, silvia, who seems to have radically different ideas about how to complete our project. she seems to purposely disagree with the majority opinions of the rest of us though yesterday she said something that made a lot of sense to us solve our production problem. i suggested to the entire group today that we hear silvia’s suggestions and asked silvia to share in-depth more of what she said yesterday. i am using which adaptive leader behavior?

Answers: 2

Answer

You know the right answer?

Reporting the financial condition of a business at a point in time and reporting the changes in the...

Questions

Business, 22.11.2019 23:31

Suppose the economy is at a position below its institutional production possibilities frontier. to improve this situation, keynesian economists might...