This document provides an overview of key components of financial statements that banks prepare at the end of each financial year. It describes the typical contents and structure of a bank's balance sheet, income statement, and cash flow statement. The balance sheet shows a bank's assets, liabilities, and equity at a point in time. The income statement summarizes revenues and expenses over a period to determine profit or loss. The cash flow statement reflects cash inflows and outflows during the reporting period from operating, investing, and financing activities.
Not-For-Profit Organizations: Lessons Learned from Implementation of the New ...McKonly & Asbury, LLP
McKonly & Asbury’s July webinar entitled, “Not-For-Profit Organizations: Lessons Learned from Implementation of the New Financial Reporting Standard” took place on Thursday, July 25, 2019. The webinar was hosted by Gary Dubas, Partner and Director of McKonly & Asbury’s Nonprofit Practice, Janice Snyder, Partner and Co-Director of the Assurance Practice, and Jim Shellenberger, Principal and Leader in the Nonprofit Practice.
This document provides an overview of key financial statements including the balance sheet, income statement, and cash flow statement. It discusses the components and purpose of each statement. The balance sheet outlines a company's assets, liabilities, and shareholders' equity. It adheres to the formula that assets equal liabilities plus shareholders' equity. The income statement assesses financial performance over a period of time by showing revenues and expenses. The cash flow statement provides data on cash inflows and outflows from operating, investing, and financing activities. It is used to analyze changes in cash from these different business activities.
This chapter discusses financial planning and forecasting. It covers developing long-term and short-term financial plans, including preparing cash budgets and pro forma income statements and balance sheets. The cash budget forecasts cash inflows and outflows to determine short-term cash needs. Pro forma statements are used to project the future financial position and evaluate financing requirements. Different approaches for preparing these statements are outlined, along with their strengths and weaknesses. The overall goal is for management and investors to evaluate the firm's expected financial performance and ability to generate returns.
Feasiability Study The legal & investment environmental Feasibility study Ch...Abd ELRahman ALFar
Feasiability Study The legal & investment environmental Feasibility study Chapter 3, This study is considered the first step in the detailed feasibility study, conducted by experts and specialists in the field of law and legislation concerning investment and employment, insurance, taxes... etc,
Provides information on balance sheets. Topics include what a balance sheet looks like, attributes of a balance sheet, major components of a balance sheet, and key characteristics in the evaluation of inventory.
Credit is the ability to obtain goods or services before payment based on trust of future payment. Net pay is the amount employees take home after deductions from gross pay. Variable expenses fluctuate with production levels, unlike fixed expenses like rent.
This document defines key terms used in economic feasibility studies, including project life cycle stages of planning, construction, and operation, as well as the value of products and services and costs incurred. It discusses accounting concepts like revenue, expenses, profit, and return on investment. The time value of money is also introduced, noting that a shilling today is worth more than a shilling in the future. Methods for conducting economic feasibility studies are outlined, such as payback period, net present value, internal rate of return, benefit-cost ratio, and present value of costs.
This document provides an overview of key components of financial statements that banks prepare at the end of each financial year. It describes the typical contents and structure of a bank's balance sheet, income statement, and cash flow statement. The balance sheet shows a bank's assets, liabilities, and equity at a point in time. The income statement summarizes revenues and expenses over a period to determine profit or loss. The cash flow statement reflects cash inflows and outflows during the reporting period from operating, investing, and financing activities.
Not-For-Profit Organizations: Lessons Learned from Implementation of the New ...McKonly & Asbury, LLP
McKonly & Asbury’s July webinar entitled, “Not-For-Profit Organizations: Lessons Learned from Implementation of the New Financial Reporting Standard” took place on Thursday, July 25, 2019. The webinar was hosted by Gary Dubas, Partner and Director of McKonly & Asbury’s Nonprofit Practice, Janice Snyder, Partner and Co-Director of the Assurance Practice, and Jim Shellenberger, Principal and Leader in the Nonprofit Practice.
This document provides an overview of key financial statements including the balance sheet, income statement, and cash flow statement. It discusses the components and purpose of each statement. The balance sheet outlines a company's assets, liabilities, and shareholders' equity. It adheres to the formula that assets equal liabilities plus shareholders' equity. The income statement assesses financial performance over a period of time by showing revenues and expenses. The cash flow statement provides data on cash inflows and outflows from operating, investing, and financing activities. It is used to analyze changes in cash from these different business activities.
This chapter discusses financial planning and forecasting. It covers developing long-term and short-term financial plans, including preparing cash budgets and pro forma income statements and balance sheets. The cash budget forecasts cash inflows and outflows to determine short-term cash needs. Pro forma statements are used to project the future financial position and evaluate financing requirements. Different approaches for preparing these statements are outlined, along with their strengths and weaknesses. The overall goal is for management and investors to evaluate the firm's expected financial performance and ability to generate returns.
Feasiability Study The legal & investment environmental Feasibility study Ch...Abd ELRahman ALFar
Feasiability Study The legal & investment environmental Feasibility study Chapter 3, This study is considered the first step in the detailed feasibility study, conducted by experts and specialists in the field of law and legislation concerning investment and employment, insurance, taxes... etc,
Provides information on balance sheets. Topics include what a balance sheet looks like, attributes of a balance sheet, major components of a balance sheet, and key characteristics in the evaluation of inventory.
Credit is the ability to obtain goods or services before payment based on trust of future payment. Net pay is the amount employees take home after deductions from gross pay. Variable expenses fluctuate with production levels, unlike fixed expenses like rent.
This document defines key terms used in economic feasibility studies, including project life cycle stages of planning, construction, and operation, as well as the value of products and services and costs incurred. It discusses accounting concepts like revenue, expenses, profit, and return on investment. The time value of money is also introduced, noting that a shilling today is worth more than a shilling in the future. Methods for conducting economic feasibility studies are outlined, such as payback period, net present value, internal rate of return, benefit-cost ratio, and present value of costs.
The document discusses the public budget process in Palestine. It defines a public budget as a program outlining expected government revenues and expenditures for a fiscal year, which runs from January to December. The budget process involves preparation by ministries, approval by legislative councils, execution by the government, and monitoring. Key parts of the Palestinian public budget include expenditures on salaries, services, and development projects, as well as revenues from taxes, aid, and other sources. Historical budget data from 2009 to 2015 is presented.
Capital budgeting is the analysis of investment alternatives that involve cash flows received or paid over time. It is used for decisions about replacing equipment, leasing versus buying, and plant acquisitions. The time value of money must be considered by converting all future cash flows to their present value. The net present value (NPV) method discounts after-tax cash flows using the appropriate discount rate and sums the present values to determine if a project should be accepted or rejected based on whether NPV is positive or negative.
This document provides an overview and explanation of key financial statements used in feasibility studies:
- The balance sheet summarizes a company's assets, liabilities, and shareholders' equity at a point in time and adheres to the formula that assets equal liabilities plus shareholders' equity.
- The income statement assesses financial performance over a period by reporting revenues, expenses from operations and non-operations, and net profit/loss.
- The cash flow statement provides data on cash inflows and outflows from operations, investing, and financing activities during a period.
It then discusses various metrics used to evaluate profitability and feasibility, including payback period, return on capital, net present value, profit index
This document discusses amortization, which is a financial arrangement where a lump sum amount borrowed accrues compound interest that is then paid off through a series of equal periodic payments over a specified period of time. Amortization involves repaying a loan through regular, equal installments that combine payments toward principal and accumulated interest. It can also refer to making periodic contributions into a savings account to accumulate a target amount over time for a future expense.
Financial planning involves setting short-term and long-term goals and strategies to achieve them. Short-term financial planning spans 1 year or less and focuses on cash management, while long-term planning is for 3-5 years and focuses on funding growth. Effective working capital management minimizes inventory and receivables to improve cash flow through techniques like just-in-time production and lockbox collections. Options are financial derivatives that give the buyer rights to buy or sell an asset at a set price by a set date, with calls providing buying rights and puts providing selling rights.
Accounting Standard 11 and Accounting Standard 16Tushar Rathi
This document summarizes Accounting Standard 11 and 16 issued by the Institute of Chartered Accountants of India. Accounting Standard 11 provides guidelines for accounting of foreign exchange transactions and foreign operations. It defines key terms and outlines how foreign currency transactions should be initially recognized and reported. It also addresses recognition of exchange differences, disclosure requirements, and accounting for forward exchange contracts. Accounting Standard 16 provides the accounting treatment for borrowing costs and specifies that borrowing costs directly attributable to qualifying assets should be capitalized. It defines qualifying assets and distinguishes between specific and general borrowings.
This document provides answers and explanations regarding multinational accounting concepts related to foreign currency transactions and financial instruments. It defines direct and indirect exchange rates, explains how to calculate them, and discusses how economic factors can impact currency exchange rates. The document also summarizes accounting standards for foreign currency transactions and hedging activities, how to recognize related gains and losses, and examples of balance sheet and income statement entries for various foreign currency situations.
This document discusses borrowing costs and their capitalization. It defines borrowing costs and notes they should generally be recognized as an expense, except when incurred for a qualifying asset, in which case they can be capitalized. It provides examples of when a controlling or controlled entity would capitalize borrowing costs to a qualifying asset. Capitalization begins when essential activities and expenditures start, and ends when construction is substantially complete.
The document summarizes Accounting Standard 11 which provides guidance on accounting for changes in foreign exchange rates. Some key points covered include:
- Foreign currency transactions and foreign operations are classified as integral or non-integral. Exchange differences for non-integral operations are accumulated in a foreign currency translation reserve.
- Monetary items denominated in foreign currency are translated at closing rates. Non-monetary items are recorded based on historical rates.
- Forward exchange contracts are marked to market on the balance sheet date and exchange gains or losses are recognized in profit and loss.
- Disclosure requirements include exchange differences, foreign currency translation reserve, and changes in classifications of foreign operations.
This document discusses key factors that must be analyzed when appraising international projects. These include foreign exchange risk, remittance restrictions, taxation issues, differences between project and parent cash flows, financing arrangements, blocked funds, inflation, uncertain salvage value, and risk adjustment. Foreign exchange risk and restrictions like blocked funds can create differences between a project's local and parent company cash flows. Both project cash flows and amounts remittable to the parent must be considered. Risk is generally best addressed through adjusting cash flows rather than the discount rate alone. A thorough analysis of all relevant political, economic, and financial risks is important for accurately evaluating the viability of international projects.
This document summarizes IAS 21, which provides guidance on accounting for foreign currency transactions and foreign operations. It defines key terms like functional currency, foreign currency, and exchange rate. It specifies that foreign currency transactions should be recorded using the spot exchange rate and remeasured at each reporting date. Exchange differences from monetary items should be recognized in profit or loss, while differences from non-monetary items depend on where any gain/loss is recognized. It also provides guidance on translating from the functional to the presentation currency.
This document discusses key concepts in financial management. It will help readers identify the financial function as important for businesses, explain how finance relates to management tasks like planning and controlling, and distinguish financial decisions at different managerial levels. Readers will also learn about financial statements, financial ratios, and advantages of budgets. Budgets are important planning tools that require input from across an organization and allow for periodic performance testing.
Businesses need extra funding for various reasons such as starting up, introducing new products, or updating equipment. The sources of funds include owner's savings, retained profits, loans from banks, government grants, hiring/leasing assets, issuing shares, selling assets, and venture capital. When choosing a source, businesses consider factors like the amount needed, length of time for funds, risk, cost of funds, and loss of control. Internal sources include owner's funds and retained profits, while external sources are bank loans/overdrafts, government grants, hiring/leasing, issuing shares, selling assets, and venture capital - each with their own advantages and disadvantages.
This document provides an introduction to financial management. It discusses key issues at the macro and micro level, including how savings and investments drive economic growth and how financial markets connect those who save with those who invest. It also examines the role of financial managers in assessing capital needs, designing financial products, and raising capital. The document outlines some of the main responsibilities of financial managers and how the finance function is typically organized. It also discusses agency issues that can arise between managers, equity holders, and debt holders.
This document summarizes Accounting Standard 11 on the effects of changes in foreign exchange rates issued by the Institute of Chartered Accountants of India. The standard applies to firms conducting foreign currency transactions or translating financial statements of foreign operations. It defines key terms and outlines how to recognize exchange differences arising from foreign currency transactions and operations. Specifically, it states that exchange differences should be recognized as income or expenses in the period they arise, with some exceptions for non-integral foreign operations. The standard also provides guidance on forward exchange contracts and disclosure requirements in financial statements.
Financial needs of an enterprise can be classified in two ways: (1) by extent of permanence into fixed capital for durable assets and working capital for current assets, and (2) by period of use into long-term capital repaid over 5+ years and short-term capital repaid within 1 year. Sources of finance include internal sources like owner's capital and external sources like bank loans, credit facilities, term loans, and government subsidies.
This document discusses preparing a capital budget and capital improvement plan. It identifies the key phases of a capital budget as planning, budget analysis/project evaluation, and acquiring/managing funds. A capital improvement plan is a spending plan over 3-5 years that identifies high-cost projects. The document discusses justifying, prioritizing, and defending proposed capital projects, as well as different financing methods like pay-as-you-go and debt financing using bonds or loans.
This document discusses key concepts in business finance and financial management. It defines business finance as money and credit used in business operations. There are two types of capital: fixed capital for long-term assets, and working capital for day-to-day operations. Financial management involves optimal procurement and use of funds. Its objectives include ensuring adequate funding, minimizing costs and risks, and maximizing returns. Financial decisions encompass investment, financing, and dividends. Factors like costs, risks, and cash flows influence these decisions. Financial planning and maintaining an appropriate capital structure are also discussed.
IAS 21 deals with accounting for foreign currency transactions and foreign operations in financial statements. It covers translating foreign currency transactions into the functional currency, translating the financial statements of foreign operations for consolidation, and translating financial statements into the presentation currency. The standard defines key terms like foreign currency, functional currency, foreign operation, and presentation currency. It specifies how to account for foreign currency transactions and translate financial statements initially and in subsequent periods.
ENG101- English Comprehension- Lecture 35Bilal Ahmed
This document provides instruction on how to write an outline for an essay. It begins by explaining what an outline is and its purpose in both writing and reading. Key points covered include organizing ideas in a logical order with headings and subheadings, using parallel structure, avoiding overlap between headings, and leaving space to add details. Examples of outlines on various topics like Shakespeare's works and books enjoyed are included to illustrate best practices. The document concludes with guidance on writing topic sentences for each heading and subheading in an outline.
The document discusses the public budget process in Palestine. It defines a public budget as a program outlining expected government revenues and expenditures for a fiscal year, which runs from January to December. The budget process involves preparation by ministries, approval by legislative councils, execution by the government, and monitoring. Key parts of the Palestinian public budget include expenditures on salaries, services, and development projects, as well as revenues from taxes, aid, and other sources. Historical budget data from 2009 to 2015 is presented.
Capital budgeting is the analysis of investment alternatives that involve cash flows received or paid over time. It is used for decisions about replacing equipment, leasing versus buying, and plant acquisitions. The time value of money must be considered by converting all future cash flows to their present value. The net present value (NPV) method discounts after-tax cash flows using the appropriate discount rate and sums the present values to determine if a project should be accepted or rejected based on whether NPV is positive or negative.
This document provides an overview and explanation of key financial statements used in feasibility studies:
- The balance sheet summarizes a company's assets, liabilities, and shareholders' equity at a point in time and adheres to the formula that assets equal liabilities plus shareholders' equity.
- The income statement assesses financial performance over a period by reporting revenues, expenses from operations and non-operations, and net profit/loss.
- The cash flow statement provides data on cash inflows and outflows from operations, investing, and financing activities during a period.
It then discusses various metrics used to evaluate profitability and feasibility, including payback period, return on capital, net present value, profit index
This document discusses amortization, which is a financial arrangement where a lump sum amount borrowed accrues compound interest that is then paid off through a series of equal periodic payments over a specified period of time. Amortization involves repaying a loan through regular, equal installments that combine payments toward principal and accumulated interest. It can also refer to making periodic contributions into a savings account to accumulate a target amount over time for a future expense.
Financial planning involves setting short-term and long-term goals and strategies to achieve them. Short-term financial planning spans 1 year or less and focuses on cash management, while long-term planning is for 3-5 years and focuses on funding growth. Effective working capital management minimizes inventory and receivables to improve cash flow through techniques like just-in-time production and lockbox collections. Options are financial derivatives that give the buyer rights to buy or sell an asset at a set price by a set date, with calls providing buying rights and puts providing selling rights.
Accounting Standard 11 and Accounting Standard 16Tushar Rathi
This document summarizes Accounting Standard 11 and 16 issued by the Institute of Chartered Accountants of India. Accounting Standard 11 provides guidelines for accounting of foreign exchange transactions and foreign operations. It defines key terms and outlines how foreign currency transactions should be initially recognized and reported. It also addresses recognition of exchange differences, disclosure requirements, and accounting for forward exchange contracts. Accounting Standard 16 provides the accounting treatment for borrowing costs and specifies that borrowing costs directly attributable to qualifying assets should be capitalized. It defines qualifying assets and distinguishes between specific and general borrowings.
This document provides answers and explanations regarding multinational accounting concepts related to foreign currency transactions and financial instruments. It defines direct and indirect exchange rates, explains how to calculate them, and discusses how economic factors can impact currency exchange rates. The document also summarizes accounting standards for foreign currency transactions and hedging activities, how to recognize related gains and losses, and examples of balance sheet and income statement entries for various foreign currency situations.
This document discusses borrowing costs and their capitalization. It defines borrowing costs and notes they should generally be recognized as an expense, except when incurred for a qualifying asset, in which case they can be capitalized. It provides examples of when a controlling or controlled entity would capitalize borrowing costs to a qualifying asset. Capitalization begins when essential activities and expenditures start, and ends when construction is substantially complete.
The document summarizes Accounting Standard 11 which provides guidance on accounting for changes in foreign exchange rates. Some key points covered include:
- Foreign currency transactions and foreign operations are classified as integral or non-integral. Exchange differences for non-integral operations are accumulated in a foreign currency translation reserve.
- Monetary items denominated in foreign currency are translated at closing rates. Non-monetary items are recorded based on historical rates.
- Forward exchange contracts are marked to market on the balance sheet date and exchange gains or losses are recognized in profit and loss.
- Disclosure requirements include exchange differences, foreign currency translation reserve, and changes in classifications of foreign operations.
This document discusses key factors that must be analyzed when appraising international projects. These include foreign exchange risk, remittance restrictions, taxation issues, differences between project and parent cash flows, financing arrangements, blocked funds, inflation, uncertain salvage value, and risk adjustment. Foreign exchange risk and restrictions like blocked funds can create differences between a project's local and parent company cash flows. Both project cash flows and amounts remittable to the parent must be considered. Risk is generally best addressed through adjusting cash flows rather than the discount rate alone. A thorough analysis of all relevant political, economic, and financial risks is important for accurately evaluating the viability of international projects.
This document summarizes IAS 21, which provides guidance on accounting for foreign currency transactions and foreign operations. It defines key terms like functional currency, foreign currency, and exchange rate. It specifies that foreign currency transactions should be recorded using the spot exchange rate and remeasured at each reporting date. Exchange differences from monetary items should be recognized in profit or loss, while differences from non-monetary items depend on where any gain/loss is recognized. It also provides guidance on translating from the functional to the presentation currency.
This document discusses key concepts in financial management. It will help readers identify the financial function as important for businesses, explain how finance relates to management tasks like planning and controlling, and distinguish financial decisions at different managerial levels. Readers will also learn about financial statements, financial ratios, and advantages of budgets. Budgets are important planning tools that require input from across an organization and allow for periodic performance testing.
Businesses need extra funding for various reasons such as starting up, introducing new products, or updating equipment. The sources of funds include owner's savings, retained profits, loans from banks, government grants, hiring/leasing assets, issuing shares, selling assets, and venture capital. When choosing a source, businesses consider factors like the amount needed, length of time for funds, risk, cost of funds, and loss of control. Internal sources include owner's funds and retained profits, while external sources are bank loans/overdrafts, government grants, hiring/leasing, issuing shares, selling assets, and venture capital - each with their own advantages and disadvantages.
This document provides an introduction to financial management. It discusses key issues at the macro and micro level, including how savings and investments drive economic growth and how financial markets connect those who save with those who invest. It also examines the role of financial managers in assessing capital needs, designing financial products, and raising capital. The document outlines some of the main responsibilities of financial managers and how the finance function is typically organized. It also discusses agency issues that can arise between managers, equity holders, and debt holders.
This document summarizes Accounting Standard 11 on the effects of changes in foreign exchange rates issued by the Institute of Chartered Accountants of India. The standard applies to firms conducting foreign currency transactions or translating financial statements of foreign operations. It defines key terms and outlines how to recognize exchange differences arising from foreign currency transactions and operations. Specifically, it states that exchange differences should be recognized as income or expenses in the period they arise, with some exceptions for non-integral foreign operations. The standard also provides guidance on forward exchange contracts and disclosure requirements in financial statements.
Financial needs of an enterprise can be classified in two ways: (1) by extent of permanence into fixed capital for durable assets and working capital for current assets, and (2) by period of use into long-term capital repaid over 5+ years and short-term capital repaid within 1 year. Sources of finance include internal sources like owner's capital and external sources like bank loans, credit facilities, term loans, and government subsidies.
This document discusses preparing a capital budget and capital improvement plan. It identifies the key phases of a capital budget as planning, budget analysis/project evaluation, and acquiring/managing funds. A capital improvement plan is a spending plan over 3-5 years that identifies high-cost projects. The document discusses justifying, prioritizing, and defending proposed capital projects, as well as different financing methods like pay-as-you-go and debt financing using bonds or loans.
This document discusses key concepts in business finance and financial management. It defines business finance as money and credit used in business operations. There are two types of capital: fixed capital for long-term assets, and working capital for day-to-day operations. Financial management involves optimal procurement and use of funds. Its objectives include ensuring adequate funding, minimizing costs and risks, and maximizing returns. Financial decisions encompass investment, financing, and dividends. Factors like costs, risks, and cash flows influence these decisions. Financial planning and maintaining an appropriate capital structure are also discussed.
IAS 21 deals with accounting for foreign currency transactions and foreign operations in financial statements. It covers translating foreign currency transactions into the functional currency, translating the financial statements of foreign operations for consolidation, and translating financial statements into the presentation currency. The standard defines key terms like foreign currency, functional currency, foreign operation, and presentation currency. It specifies how to account for foreign currency transactions and translate financial statements initially and in subsequent periods.
ENG101- English Comprehension- Lecture 35Bilal Ahmed
This document provides instruction on how to write an outline for an essay. It begins by explaining what an outline is and its purpose in both writing and reading. Key points covered include organizing ideas in a logical order with headings and subheadings, using parallel structure, avoiding overlap between headings, and leaving space to add details. Examples of outlines on various topics like Shakespeare's works and books enjoyed are included to illustrate best practices. The document concludes with guidance on writing topic sentences for each heading and subheading in an outline.
MGT101 - Financial Accounting- Lecture 38Bilal Ahmed
The document discusses key financial statements including the statement of changes in equity, cash flow statement, and notes to the accounts. It also covers topics like share premium, revaluation reserve, debentures, and term finance certificates. There is a sample problem that requires preparing the balance sheet of Beta (Private) Limited based on given trial balance figures and additional information.
CS101- Introduction to Computing- Lecture 39Bilal Ahmed
Cyber crime takes many forms such as denial of service attacks, software piracy, viruses, and industrial espionage. DoS attacks involve overloading servers with traffic to render them unusable. Viruses are self-replicating software that infect files and systems. Common defenses include email filtering, intrusion detection, encryption, and antivirus software. Engaging in cyber crimes can result in legal prosecution with jail time and fines.
Financial accounting mgt101 power point slides lecture 29Abdul Wadood Ansary
This document discusses key concepts related to financial accounting, including the profit and loss account and balance sheet. It explains items that appear on the profit and loss account such as sales, cost of goods sold, expenses, profit/loss, and net profit. It also explains items that appear on the asset side of the balance sheet, such as fixed assets, capital work in progress, deferred costs, long-term investments, and current assets like inventory, receivables, investments, and cash. Key points about classifying investments and expenses are also covered.
This document discusses IAS 32, IFRS 7, and IFRS 9 regarding financial instruments. It defines key terms like financial instruments, financial assets, and financial liabilities. It outlines the classification of financial instruments into those measured at fair value through profit or loss, fair value through other comprehensive income, and amortized cost. It also discusses impairment of financial assets, reclassification of financial instruments, and derecognition of financial assets and liabilities. Examples are provided to illustrate measurement of financial instruments under different classifications.
Financial instrument IAS 32 IFRS 7 & and IFRS; 9AdeadebayoShuaib
This document discusses IAS 32, IFRS 7, and IFRS 9 regarding financial instruments. It defines key terms like financial instruments, financial assets, and financial liabilities. It outlines the classification of financial instruments into those measured at fair value through profit or loss, fair value through other comprehensive income, and amortized cost. It also discusses impairment of financial assets, reclassification of financial instruments, and derecognition of financial assets and liabilities. Examples are provided to illustrate measurement of financial instruments under different classifications.
The document provides information about a financial position statement, including:
1) It defines a financial position statement as a balance sheet that assesses an entity's financial soundness in terms of liquidity, financial, credit, and business risk.
2) Assets and liabilities are classified as current or non-current based on whether they are expected to be realized within one year.
3) Components of the financial position statement include current and non-current assets like cash, receivables, and property, as well as current and non-current liabilities like payables and loans. Equity represents the residual interest of the owners.
Balance Sheet
The Balance Sheet shows the financial condition of a business at a specific point of time categorizing financial sheet of the firm under two major heads “Equity & Liabilities” and “Assets”
The balance sheet is based on the fundamental equation:
Assets = Liabilities + Equity
The balance sheet is one of the major fundamental financial statements used to serve various purposes of financial analysis, accounting and financial modelling
Equity & Liabilities represents what the firm owes, the burden or debt
The format prescribed in the Companies Act classifies Equity and Liabilities as follows: Shareholders’ Fund, Non-current Liabilities & Current Liabilities
Equity is a degree of ownership in any asset after deducting all the debts associated with that asset
It represents the shareholders’ stake/ownership in the company
Liabilities are defined as a company's financial debts or obligations that arise during the course of business operations
Shareholders’ fund represents the contribution made by shareholders in the form of financing for the business
Non-current liabilities are liabilities which are expected to be settled in longer period of time usually after one year
These include long-term borrowings , deferred tax liabilities, long-term provisions and other long-term liabilities
Current Liabilities are liabilities which are due to be settled within a year
These include short-term borrowings , trade payables and short-term provisions
An asset is any resource owned by the business either tangible or intangible that produce value and is held by a company to for longer period of time to reap positive economic value for the business.
As per Companies act , under balance sheet asset is categorized under two main headings :- Current assets and Non- current assets.
Current asset is any asset which can reasonably be expected to get sold, consumed, or exhausted through the normal course of a business within the current fiscal year or operating cycle usually within one year
Current assets include current investments, inventories, trade receivables, cash& cash equivalents, short-term loans & advances
Non-current assets are company’s long-term investments usually in the form of investments made in property (land & building), plant and equipment, machinery, intangible assets like patents, copyright, trademark, goodwill etc.
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CLASSIFICATION OF BALANCE SHEET ACCOUNTS.pptxLieanBodollo
This document defines and classifies balance sheet accounts. Assets are resources owned that provide future economic benefits and are classified as current or noncurrent. Current assets are expected to be used within a year, while noncurrent assets are long-term. Liabilities are financial obligations classified as current or noncurrent depending on if they are due within a year. Owner's equity is the residual claim on assets after deducting liabilities. The balance sheet can be presented in report or account form.
This document discusses working capital management concepts. It defines working capital and net working capital as the difference between current assets and current liabilities. It outlines the key components of current assets, like inventory, accounts receivable, and cash. It also discusses current liabilities, financing approaches for working capital like aggressive, conservative, and moderate, and how the level of current assets and financing methods are interdependent decisions. The optimal level of working capital balances liquidity, profitability, and risk.
The Trial Balance is a statement of ledger account balances as on a particular date (instance).
Final Accounting is done towards the end of the accounting period.
The trial balance that we consider in the preparation of final accounts is the one that is prepared towards the end of the accounting period i.e. on the last day of the accounting period.
There might be a number of accounting transactions which might not have been taken into consideration by the time the Trial Balance has been prepared.
The transactions which have not yet been journalized, appended to the trial balance are what we call adjustments.
Any irrecoverable portion of sundry debtors is termed as bad debts. Bad debt is a loss to the business. If it is given in the Trial balance, it should be shown on the debit side of Profit & Loss Account. Bad debts given in the adjustment is to be deducted from sundry debtors in the Balance Sheet and the same is debited to the Profit & Loss Account.
The document provides information about accounting adjustments. It defines adjustments as transactions relating to the business that have not been recorded by the end of the accounting period. Examples of adjustments include closing stock, outstanding expenses, depreciation, goods sent on sale or return, and more. The document then discusses the treatment of various common adjustments like closing stock, outstanding expenses, prepaid expenses, accrued income, and depreciation in the final accounts.
This document discusses financial statements and how they relate to entrepreneurial businesses. It provides definitions for key financial terms like assets, liabilities, equity, income statement, balance sheet, and cash flow statement. It explains the purpose and components of various financial statements. The document also discusses financial analysis metrics for evaluating a company's profitability, solvency, and efficiency.
The document provides an overview of special tax deductions allowed under South African income tax law. It discusses several special deductions including restraint of trade payments under section 11(cA), fund contributions by employers under section 11(l), annuities to former employees under section 11(m), learnership agreements under section 12H, legal costs under section 11(c), repairs under section 11(d), bad debts under section 11(i), donations under section 18A. The document outlines the requirements and calculations for claiming each of these special deductions on tax assessments. It also discusses changes to the treatment of doubtful debts for years of assessment after January 2019.
Financial accounting mgt101 power point slides lecture 31Abdul Wadood Ansary
This document discusses different types of business entities, including sole proprietorships, partnerships, and limited companies. It provides details on key aspects of each type such as the number of owners, liability of owners, distribution of profits, and journal entries related to capital accounts, drawings, and profit allocation. Specific accounting treatments are covered for sole proprietors, partnerships, and limited companies.
Debt mutual funds - Scenario post the finance bill (no.2) - 2014Dhuraivel Gunasekaran
The document summarizes changes to tax provisions for debt mutual funds in India's Union Budget 2014. Key points:
- Long-term capital gains tax benefits for debt funds now require a 3-year holding period instead of 1 year. Indexation is now required.
- Dividend distribution tax is now calculated differently, eliminating a previous tax benefit for investors.
- The changes reduce some tax advantages of debt funds over bank fixed deposits. However, debt funds still offer benefits like indexation, no annual taxes, and lower dividend taxes for some investors.
This document provides information about preparing a balance sheet and profit and loss statement. It begins with an introduction to the topic. It then defines key components of the financial statements including expenses, income, assets, and liabilities. The document provides examples of typical profit and loss statement and balance sheet formats. It includes vertical and horizontal examples. It also includes notes that would typically accompany the statements. Finally, it provides general instructions for preparing the balance sheet according to the Companies Act of 2013. In summary, the document outlines the components and required formats for basic financial statements along with examples and notes.
The document provides information about types of companies and final accounts preparation for limited companies in Hong Kong. It discusses key aspects such as types of limited companies (private and public), share capital structure, means of funding, reserves, appropriation of profits, and bonus share issues. The final accounts include the trading and profit & loss account and balance sheet, with details on treatment of expenses like debenture interest and dividends for limited companies.
Ind AS 34 provides the requirements for interim financial reporting, requiring listed companies to publish interim financial reports on a quarterly basis. These interim reports must include at a minimum condensed statements of financial position, comprehensive income, changes in equity and cash flows, along with selected explanatory notes. The standard specifies the recognition and measurement principles to be applied in interim reports, which should use the same accounting policies as the annual financial statements.
The document discusses financial statements, including the income statement, balance sheet, statement of retained earnings, and statement of cash flows. It provides details on the key components and purposes of each statement. The income statement shows a company's revenues, expenses and profits over a period of time. The balance sheet outlines a company's assets, liabilities, and shareholders' equity at a point in time. The statement of retained earnings shows how much earnings have been retained in the business each year. And the statement of cash flows provides information on a company's cash inflows and outflows from operating, investing, and financing activities.
The document outlines the budgetary control policies and procedures for XYZ-LTD. It discusses the budgeting cycle which includes six phases: setting budget policy, preparation, authorization, implementation, reporting/monitoring, and review. It describes the responsibilities for budgeting and the general budget classifications of current/investment expenditures and receipts. The methods of budgeting are also discussed where branches must frame budgets based on planned outcomes rather than inputs.
Similar to MGT101 - Financial Accounting- Lecture 30 (20)
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
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Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
1. Financial Accounting
1
Lecture – 30
Classification of Investments
• Long term investments are those investments that are
meant to be held for a long term period.
• If it is decided to dispose off a long term investment, then its
classification is changed to current investment from long
term.
2. Financial Accounting
2
Lecture – 30
Balance Sheet (Liabilities)
Particulars Amount Rs. Amount Rs.
ASSETS
Non Current Assets
Fixed Assets
Capital Work In Progress
Deferred Costs
Long Term Investments
Current Assets
X
X
X
X
X
TOTAL X
LIABILITIES
Capital and Reserves
Capital
Reserves
Profit and Loss Account
X
X
X X
Long Term and Deferred Liabilities
Long Term Loans
Liability Against Lease Finance
Other Long Term Liabilities
Deferred Tax
X
X
X
X X
Current Liabilities
Trade Creditors
Short Term Borrowings
Other Payables
Current Portion of Long Term Borrowings
X
X
X
X X
TOTAL X
3. Financial Accounting
3
Lecture – 30
LIABILITIES
Capital and Reserves
Capital
Reserves
Profit and Loss Account
X
X
X X
Long Term and Deferred Liabilities
Long Term Loans
Liability Against Lease Finance
Other Long Term Liabilities
Deferred Tax
X
X
X
X X
Current Liabilities
Trade Creditors
Short Term Borrowings
Other Payables
Current Portion of Long Term Borrowings
X
X
X
X X
TOTAL X
4. Financial Accounting
4
Lecture – 30
• Capital
It is the total of resources supplied to a business by its
owners.
Capital is termed as “Share Capital” in case of Limited
Companies.
5. Financial Accounting
5
Lecture – 30
• Capital Introduced By Owner In form of Assets
Debit Fixed Assets Account
Credit Capital Account
6. Financial Accounting
6
Lecture – 30
• Reserves
Reserve is the portion of profit set aside for use in future
years for a specific purpose.
7. Financial Accounting
7
Lecture – 30
• Profit and Loss / Accumulated Profit and Loss Account
It is that portion of the profit that is reemployed in the
business.
OR
This is the accumulated balance of undistributed profit.
8. Financial Accounting
8
Lecture – 30
• Accumulated Profit and Loss Account
In the first year of business this account shows following
figure:
Profit for the year X
Less: Transferred to Reserve X
Less: Profit distributed X
Balance carried to Balance Sheet X
In Subsequent years balance brought forward from
previous years and profit for the year is added and
distributed as above and the balance is carried to next
year.
9. Financial Accounting
9
Lecture – 30
• Long Term Loans
Loans that are payable later than a period of more than
twelve months from the balance sheet date.
• Short Term Loans
Loans that are payable within twelve months of the
balance sheet date.
10. Financial Accounting
10
Lecture – 30
• Current Portion of Long Term Loans
It is that portion / installment of the long term loan that is
payable with in next twelve months.
11. Financial Accounting
11
Lecture – 30
• Other Long Term Liabilities
These include all other liabilities that are payable after a
period of one year of balance sheet date.
For example staff gratuity and other benefits, liability
against lease finance and other liabilities that become
payable after a period of one year.
12. Financial Accounting
12
Lecture – 30
• Provision
Provision is charge created for an expected expense or
loss whose actual amount is not known.
It is usually shown as a reduction in the asset to which it
relates
• Reserves
Reserve is the portion of profit set aside for use in future
years for a specific purpose.
It is usually created at the discretion of the owners an is
shown as a liability.
13. Financial Accounting
13
Lecture – 30
• Current Liabilities
Trade Creditors
Short Term Borrowings
Other Short Term Liabilities
o Salaries Payable
o Accrued Expenses
o Bills payable
o Advances From Customers
Current Portion of Long Term Liabilities