Financial statements are very much important to the various parties interested in financial Statement analysis. The parties like shareholders, management, creditors, employees and Government etc get the information required for them on the basis of those statements. In all, The importance of financial statement can be stated as follows: InContinue Reading
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Financial statements are the statements of the business firm prepared generally at the end of Accounting period i.e. income statement and balance sheet. The objectives of financial Statements are as follows: a. To measure the operating efficiency and effectiveness of the business firm. b. To evaluate the soundness of creditContinue Reading
Financial statements are the statements of the business firm prepared generally at the end of Accounting period i.e. income statement and balance sheet. The objectives of financial Statements are as follows: a. To measure the operating efficiency and effectiveness of the business firm. b. To evaluate the soundness of creditContinue Reading
Called current assets. Such assets are easily converted into cash during an accounting Period of a firm. These assets are also called floating assets or circulating assets. Cash In hand, cash at bank, bills receivable, sundry debtors, accrued income etc. are the Examples of current assets. Current Liabilities: TheContinue Reading
