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Financial Statements: Meaning, Nature and Objectives

Company’s true and fair view of financial performance can be judged by its financial statements. The financial not only depicts the profit & losses but also the assets and liabilities of the company. Howsoever, one can only get the financial statements at the end of the financial year. Here is the meaning, nature and objective … Read moreFinancial Statements: Meaning, Nature and Objectives

Uses of Financial Statements and their Limitations

Financial statements of an organization play a very important role. Right off the bat, they show the true and fair view of the organization. They likewise help in taking significant financial data. From investors and shareholders to tax authorities, creditors and government, numerous individuals use them. Here is a list of financial statement uses: Uses … Read moreUses of Financial Statements and their Limitations

Balance Sheet and Notes to Accounts

A balance sheet is the statement of financial position of a business organization on a given date. It shows the financial position of a business which helps stakeholders in analysing its future prospects.   The topics discussed in this article are: What is a Balance Sheet? Objectives of a Balance Sheet Base Formula of a … Read moreBalance Sheet and Notes to Accounts

Financial Statements

Financial Statements or financial report shows a formal record of all the financial activities carried out by an entity during a financial tenure and its financial position. These are written reports that determine the performance, financial strength and liquidity of an entity. The financial statements manifest the impact of day to day financial transactions impact … Read moreFinancial Statements

Basic Accounting terms used in Financial Statements

One of the teething problems that most of the business owner has to deal with is to know the basic knowledge of accounting – and you should be acquainted with some basic accounting terms whether you hope to hire professionals for managing your books of accounts or by yourself. Let us throw some light on … Read moreBasic Accounting terms used in Financial Statements