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Financial Reporting Key components of financial reporting Audit report Types of audit report Creative Accounting Is creative accounting an evil? Limitations of financial statements
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The document provides an overview of financial accounting and auditing. It defines financial accounting as the process of recording and summarizing financial transactions and publishing financial reports for external users. It describes the accounting cycle and key financial statements. It also outlines the objectives, principles, benefits, limitations and users of accounting information. The document concludes by distinguishing between financial and management accounting, and defining auditing as the independent examination of an organization's financial data and reporting.
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1) Financial reporting in Bangladesh provides information to stakeholders to aid in capital allocation decisions. Key stakeholders include investors, creditors, standard setters, and management.
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Checking arithmetical accuracy of books of accounts, verifying posting, costing, balancing etc.
Verifying the authenticity and validity of transactions.
Checking the proper distinction of capital and revenue nature of transactions.
Confirming the existence and value of assets and liabilities.
Verifying whether all the statutory requirements are fulfilled or not.
Proving true and fairness of operating results presented by income statement and financial position presented by balance sheet.
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The main objectives of Audit are known as primary objectives of Audit. They are as follows:
Checking arithmetical accuracy of books of accounts, verifying posting, costing, balancing etc.
Verifying the authenticity and validity of transactions.
Checking the proper distinction of capital and revenue nature of transactions.
Confirming the existence and value of assets and liabilities.
Verifying whether all the statutory requirements are fulfilled or not.
Proving true and fairness of operating results presented by income statement and financial position presented by balance sheet.
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in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
TIMES BPO: Business Plan For Startup Industry
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
Satta Matka Dpboss Matka Guessing Kalyan Chart Indian Matka Kalyan panel Chart
Satta Matka Dpboss Matka Guessing Kalyan Chart Indian Matka Kalyan panel Chart➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSSDigital Transformation Frameworks: Driving Digital Excellence
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Income Tax exemption for Start up : Section 80 IAC
A presentation on the concept of Exemption of Profits of Start ups from Income Tax
Industrial Tech SW: Category Renewal and Creation
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
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Financial Reporting.pptx
- 2. Table of content • Financial Reporting • Key components of financial reporting • Audit report • Types of audit report • Creative Accounting • Is creative accounting an evil? • Limitations of financial statements
- 3. What is financial reporting? • Financial reporting is the process of communicating an organization's financial information to external stakeholders, such as investors, creditors, regulators, and the general public. • The primary purpose of financial reporting is to provide relevant and reliable information about the financial performance and position of the company, enabling stakeholders to make informed decisions.
- 4. Key Components • Financial statements: 1. Balance Sheet 2. Income Statement 3. Cashflow Statement • Notes to financial Statements • Audit Reports
- 5. Audit Report • An audit report is a formal document issued by an independent auditor after conducting an examination of an organization's financial statements and related processes. • The purpose of the audit report is to provide an opinion on whether the financial statements are presented fairly in accordance with the applicable accounting standards. • The report is a critical element in providing assurance to stakeholders, including investors, creditors, and regulatory authorities.
- 6. Types of audit reports • Unqualified Opinion • Qualified Opinion • Adverse Opinion • Disclaimer of opinion
- 7. Creative Accounting Creative accounting refers to the manipulation of financial information by companies to present a more favorable picture of their financial position and performance than what it is in actual. Examples of Creative accounting: • overestimating revenues • lowering depreciation charges • delaying expenses
- 8. Is creative accounting an evil? While creative accounting is legal, it can lead to accounting fraud, which is illegal Whether creative accounting is considered "evil" depends on the intent and consequences of the practices involved Creative accounting can lead to the issues of ‘ethical concerns’ and‘damaging of trust’
- 9. Limitations of financial statements Historical Information: Financial statements primarily provide historical information about a company's performance which may not necessarily predict future performance. Estimates and Assumptions: Financial statements often include estimates and assumptions, such as depreciation methods, bad debt provisions, and useful life of assets. Qualitative Factors: It ignores qualitative factors such as employee morale, quality of management, market conditions.
- 10. Cont’d Window dressing/creative accounting: Companies may involve in creative accounting and manipulate the data which can affect the transparency. Ignoring Inflation: Traditional financial statements may not fully account for the impact of inflation on the value of money over time, particularly in periods of high inflation. Complexity for Non-Experts: Interpreting financial statements requires a certain level of financial education. Non- experts can find it challenging to understand the complex accounting principles and financial jargon.
- 11. Thank You!