The document discusses key financial statements and concepts:
1. It defines financial statements, balance sheets, income statements, cash flow statements, and statements of owner's equity. These statements are important for internal and external reporting and analysis of a company's financial performance and position.
2. The balance sheet provides a snapshot of a company's assets, liabilities, and equity. The income statement measures profitability. The cash flow statement shows cash inflows and outflows. Together these statements allow analysis of a company's leverage, liquidity, profitability, and cash generation.
3. Accurate financial reporting is critical for management to understand the business and make informed decisions. It also allows for external control and
Deferred Tax,
By: Mahima Pahwa (IBS Gurgaon)
Differences between Accounting Income and Taxable Income
TYPES OF DEFERRED TAX
DEFERRED TAX LIABILITY
FINANCIAL STATEMENTS PRESENTATION
Deferred Tax,
By: Mahima Pahwa (IBS Gurgaon)
Differences between Accounting Income and Taxable Income
TYPES OF DEFERRED TAX
DEFERRED TAX LIABILITY
FINANCIAL STATEMENTS PRESENTATION
The Cash Flow Statement translates earnings in the Income Statement into cash inflows. Explained in detail above as a part of the topic “Financial accounting”, is brought to you by Welingkar’s Distance Learning Division.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideshareFaccounting
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP
What are the four 4 major financial statements.pdfsarikabangimatam
Financial statements summarize a company's business activities, financial performance, financial position, and cash flows through a series of written reports. All reports should be structured to convey relevant data in an easily digestible manner. Specifically, a cliff note on the financial performance of the Business Accountants. These reports typically provide a snapshot of a specific period of time and typically represent activity over a specific month, year, or specific time period. These financial statements are critical to understanding your business and performance.
The Cash Flow Statement translates earnings in the Income Statement into cash inflows. Explained in detail above as a part of the topic “Financial accounting”, is brought to you by Welingkar’s Distance Learning Division.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideshareFaccounting
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP
What are the four 4 major financial statements.pdfsarikabangimatam
Financial statements summarize a company's business activities, financial performance, financial position, and cash flows through a series of written reports. All reports should be structured to convey relevant data in an easily digestible manner. Specifically, a cliff note on the financial performance of the Business Accountants. These reports typically provide a snapshot of a specific period of time and typically represent activity over a specific month, year, or specific time period. These financial statements are critical to understanding your business and performance.
What are the 3 types of financial statements.pdfsarikabangimatam
Financial statements demonstrate the value of operations and show that tax laws and other requirements are being complied with. Document and communicate the company's financial position and growth over time. By being compliant and generating regular financial reports, Business Accountant leaders and managers can spot unique opportunities, proactively mitigate risks, and efficiently prioritize projects to achieve larger goals.
An Introduction to Financial Statements for Companies for Non-Accountants.pdfJose thomas
If you want to increase operational efficiency and gain an edge in an ever-evolving business environment. Consider Axolon ERP software UAE as your strategic partner to optimize processes and improve business performance.
The preparation of financial statements is a key aspect of an organisation's financial management as it relates to the recording and reporting of financial transactions and activities.
Financial statements support decision-making and financial analysis by providing a comprehensive overview of a company's financial performance, position and cash flow.
Finance is the language of business. You have to make the best decisions possible for yours or your client’s business. And, understanding financial analysis is the key to making this happen.
Budgeting is a process of expressing quantified resource requirements (amount of capital, amount of material, number of people) into time-phased goals and milestones.
Check out more @ www.eleaderstochange.com
Follow: #eleaders2change
Module 2 - BackgroundPrinciples of AccountingConsider that acc.docxroushhsiu
Module 2 - Background
Principles of Accounting
Consider that accounting terms are not always obvious in their meanings. If you are learning terminology or need to clarify a vocabulary item, a good reference for accounting terms is:
New York Society of Certified Public Accountants (2017) Accounting Terminology Guide - Over 1,000 Accounting and Finance Terms. Retrieved from: http://www.nysscpa.org/professional-resources/accounting-terminology-guide#sthash.UMS3kGjf.dpbs
For a glossary of general business terms:
Berry, T. (n.d.) Business terms glossary. BPlans. Retrieved from http://articles.bplans.com/business-term-glossary/
The Annual Report
The annual report is the way a firm summarizes its performance over the past year and where it sets a vision for the future. Publicly held companies (traded on the stock exchange) must prepare annual reports, and annual reports are usually public documents. Investors and the general public use annual reports as sources of information about the financial health of a company. We will be learning about reading annual reports to learn general accounting principles in the context of learning about a company and the industry in which it operates. Although we will not discuss all sections of an annual report, we will touch on the sections that have the most relevance to providing the HRM professional with the most helpful insights into the operations of the firm.
Front matter
This is largely text material that sets the stage for the quantitative data that follows.
The Opening letter to the Shareholders
The opening letter is generally the first section of the annual report and is a statement by the chairman of the board. The letter sets the stage for how the firm’s management wants you to view the report and the previous year’s performance, and so in this sense sets the “strategic intent” of the report. A careful reading of the letter can give context to the numbers that follow by giving you clues of what to look for in terms of goals met – or problems that prevented goal attainment. The firm may be on the verge of explosive growth, or a meltdown.
Sales and Marketing
This section covers the company’s product/service line. Typically, it also contains descriptions of key departments or groups and the work they do. By reading this section, you can deduce what products or services are most important to the firm and which divisions are seen as most critical to its success. This section can also give you clues as to what the future may hold.
The Auditor’s Letter
You might be tempted to skip this section, because it probably seems superfluous (like the terms and conditions acknowledgment on software updates. You know you don’t read those!). However, you should know that by law, a publicly traded firm needs to be independently audited every year. This is to protect the investor, and the auditors will state whether or not the data the company presents is accurate and if they have sufficient controls in place to prevent frau ...
Financial plan and controll entrepreneurshipfatimanajam4
This file is uploaded to help the students learning finance easier. It will give a general understanding of planning and controlling of financial resources.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Affordable Stationery Printing Services in Jaipur | Navpack n Print
Financial statement assignment
1. Financial Statement/Reporting
Definition:A financial statement (or financial report) is a formal record of the financial activities of a business, person, or other entity
Importance:At regular period public companies must prepare documents called financial statements. Financial statements show the financial performance of an
company. They are used for both internal-, and external purposes. When they are used internally, the management and sometimes the employees use it for
their own information. Managers use it to plan ahead and set goals for upcoming periods. When they use the financial statements that were published, the
management can compare them with their internally used financial statements. They can also use their own and other enterprises’ financial statements for
comparison with macro economical data’s and forecasts, as well as to the market and industry in which they operate in.
How can financial reporting play an important role to exhibit financial position of a business?
Financial reporting refers to the periodic production of business financial statements. These financial statements include the balance sheet, income statement,
and cash flow statement.
The balance sheet shows a moment in time snapshot of a company’s financial health.
Can this company take on additional debt or is it already overleveraged?
Can it meet its current obligations with cash and other current assets that can be converted into cash?
The income statement measures company performance in terms of sales and profitability.
Has this company maintained or improved its sales and profit margins compared to prior years?
If not, what has caused them to decline?
The cash flow statement shows how a company generates cash flow and how it spends its cash.
Is cash flow after core operations sufficient to meet all debt obligations and still leave excess cash to reinvest in capital assets like vehicles, machinery &
equipment?
2. Without accurate financial reporting, any answers to these questions would be guesses at best. Management would have no idea of how profitable, how
leveraged, how liquid, nor how efficient their business is. They could not determine if their business could
whether bear another economic recession like the one we are still experiencing,
whether they are growing their business and doing so profitably,
or if they have the capacity to meet all current obligations for payroll, utilities, and loan obligations, without running out of cash.
Accurate financial reporting is also one way a small business owner can have a control mechanism by which any irregularities (expense abuses, pricing issues,
etc.) in the financial performance of the company can be brought to the forefront. Essentially, a business without financial reporting is the equivalent of a
rowboat heading upstream without any paddles, not likely to move forward, and most likely to go backward.
Balance Sheet
Definition:A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and
expenditure over the preceding period
OR
A financial statement that summarizes a company's assets, liabilities and shareholder’s equity at a specific point in time. These three balance sheet segments
give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders.
The balance sheet must follow the following formula:
Assets = Liabilities + Shareholders' Equity
Importance:The Balance Sheet for accounting is an extremely important and often used statement of entity condition. It shows the extent of entity ownership of
assets, liability and equity at a given point in time. This point is the date on the statement. It is a physical representation of the 'accounting equation.' The
equation states that at any point in time, the assets of the business are equal to the sum of the liabilities and owner's equity. The equation also forms the basis
of the statement structure, which mirrors the three aspects of the equation. The three parts are: 1) assets, 2) liabilities and 3) owner's equity. Let's look at each
one.
3. Assets are anything that the business owns. We tend to consider assets to be land, buildings, vehicles, inventory and cash but they are also other things. The
adding machines, computers, copyrights, patents, goodwill, time clocks, pens, wrenches, ladders, paper and copy machines are also included. This expands the
definition to encompass all that the business has acquired by purchase or by owner contributions.
Liabilities - when doing accounting - on the other hand, are claims against the assets excluding the owner's equity contributions. These claims can take several
forms. Some are both short- and long-term loans, bills for utilities, rent, employee expenses, bonds, taxes and many other items. They reduce the total value of
the assets. Interestingly, liabilities are very liquid. They change on a constant basis. For instance, widgets are purchased to sell, the business uses utilities to
operate and cash or credit is needed to pay these outside demands.
Finally, there is the Owner's Equity section of the Balance Sheet. This summarizes, in varying degrees of detail, who owns the business. For instance, if stock is
issued, it will show what the stock is valued at and usually how many shares are outstanding. It is not unusual to see differing issues of stock and wide
differences in the values. In simple businesses, the equity might just be divided between several partners. Though, the Balance Sheet probably won't reveal the
names of the partners and how much of the business each one owns. The ownership is usually specified in other documents related to the corporate records.
But, this section will show an aggregate of the amounts.
The other important parts of the Owner's Equity, in accounting, are related to the Income Statement. The Net Income, or Net Loss, is part of the equity portion.
Typically there are two parts to it representing the previous retained earnings of the entity and another part, which represents present earnings. Together, they
show how much the value of the business has increased, or decreased because of entity operations. If the business is operating at a loss, the Owner's Equity is
becoming less valuable and will show that the owners now have less equity that they had previously. If loss condition continues, the business eventually ceases.
The Balance Sheet is an extremely important statement in the accounting and will be found, sometimes several ways, in the company prospectus. It is also
provided to various government regulatory agencies. They use them to assure the business is complying with laws, regulations and taxing requirements.
Typically, there is an outside audit of this statement along with the Income and Cash Flow statements too. This provides an outside review and an opinion of
how well the business is keeping their books. So, the Balance Sheet is an extremely important financial document.
4.
5. Income statement/ Statement of Profit & Loss
Financial statement that measures a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary
of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a
specific accounting period, typically over a fiscal quarter or year.
Also known as the "profit and loss statement" or "Statement of revenue and expense".
Explanation of Income Statement/ Statement of Profit and Loss:The income statement is the one of the three major financial statements. The other two are
the balance sheet and the statement of cash flows. The income statement is divided into two parts: the operating and non-operating sections.
The portion of the income statement that deals with operating items is interesting to investors and analysts alike because this section discloses information
about revenues and expenses that are a direct result of the regular business operations. For example, if a business creates sports equipment, then the operating
items section would talk about the revenues and expenses involved with the production of sports equipment.
The non-operating items section discloses revenue and expense information about activities that are not tied directly to a company's regular operations. For
example, if the sport equipment company sold a factory and some old plant equipment, then this information would be in the non-operating items section.
Importance:The Income Statement shows the revenues and expenses for a business. It is usually prepared monthly but can cover any time period up to twelve
months. In evaluating the success of a business the income statement shows if the revenues are greater than the expenses (in the black or profit) or if the
expenses are greater than the revenue (in the red or loss).
The Income Statement can be prepared on a cash basis, accrual basis or an income tax basis. It is important to understand the basis for preparation. It is not
unusual for an income statement to show a profit using one method and a loss using another method.
When evaluating the success of a business even though you can learn a great deal from the income statement it is essential to also review the balance sheet and
statement of cash flows to get a complete picture of the business.
One of the Example is given below:
6.
7. Statement of Owner’s Equity / Statement of retained earning
The Statement of Owner's Equity shows the change in owner's equity during a given time period. It lists the owner equity balance at the beginning of the period,
additions and subtractions to the balance, and the ending balance. Additions come from owner investments and income; subtractions from owner withdrawals
and losses.
OR
Financial Statement showing the beginning balance, additions to and deductions from, and the ending balance of the shareholder’s equity account, for a
specified period.Also called statement of shareholder’s equity.
OR
The Statement of Owner’s Equity reflects the changes in the owner’s equity of the company for a specified period of time, and is also typically done by the
business on a monthly basis. It is calculated using the following formula: Owner’s equity beginning of month + investments + net income - withdrawals = owner’s
equity end of month.
The importance of the Statement of Owner’s Equity is to show the change in equity. It can explain where money came from and where money went in the
business.
The example of “statement of owner’s equity/ Statement of retained earning” is given on next page:
8.
9. Depreciation
A reduction in the value of an asset with the passage of time, due in particular to wear and tear
OR
To record the physical decrease in the value of fixed asset is called depreciation.
OR
Depreciation is a non-cash expense that reduces the value of an asset over time.
Assets depreciate for two reasons:
Wear and tear. For example, an auto will decrease in value because of the mileage, wear on tires, and other factors related to the use of the vehicle.
Obsolescence. Assets also decrease in value as they are replaced by newer models. Last year's car model is less valuable because there is a newer model in
the marketplace.
Methods to calculate depreciation:
Straight line depreciation method: A method of computing depreciation by dividing the difference between an asset's cost and its expected salvage value by the
number of years it is expected to be used.
The original cost of the asset, including costs of acquiring the asset, transporting it, and setting it up
Less the salvage value (the "scrap" value)
Divided over the years of useful life of the asset.
For example, the annual depreciation on a machine with a useful life of 20 years,
a salvage value of Rs.1000
and a cost of Rs.50,000 is Rs.2450 how? It’s calculated below:
Rs.50,000-1000= Rs.49,000
ThenRs.49,000/20= Rs.2450.