1. Define elements of financial statements.

Q: What is the purpose of pro forma financial statements

A: Pro forma financial statements are financial reports issued by an entity, using assumptions or…

Q: Explain how to present financial statement.

A:

Q: Define Balance sheet ratios

A:

Q: What are the basic financial statements? Explain in detail.

A: Fiscal summaries ar put down accounts that pass on the business exercises & thusly an…

Q: mptions that need to be considered while preparing  a financial statement.

A: Financial statements are formal records of a company's, individual's, or other entity's financial…

Q: Describe the approach to financial statement analysis

A: Financial statement analysis: Financial statement analysis is a valuable measure for evaluating…

Q: What is meant by the statement that the financial statementsarticulate ?

A: The statement “financial statements are articulated" means that measurements in the balance sheet…

Q: 1. Example evaluation of financial statement.

A: Introduction:- Financial statement analysis is used to evaluate business performance. Financial…

Q: What exactly is intended by the statement that the financial statements make in their presentation?

A: Introduction: Financial statements are articulated because measures in the balance sheet are…

Q: . Explain the main elements of Financial Statements in detail.

A: main elements of financial statements of are - - Assets  - liabilities - equity - incomes - expenses…

Q: financial assertion

A: Financial assertions are statements made by management in an an assertive way regarding the items in…

Q: Describe the conceptual framework of financial accounting.

A: Conceptual Framework: A conceptual framework is a logical presentation of interrelated objectives…

Q: What are General Purpose Financial Statements and what are they used for? What are Financial…

A: Financial statements that are distributed to a large number of people are known as general-purpose…

Q: Define what are consolidated financial statements and their usefulness.

A: Financial statements - Financial statements are referred to as those records which are in written…

Q: Identify the three types of comparisons commonly used in financial statement analysis.

A: Financial Statement Analysis: The financial statement analysis is the process of analyzing the…

Q: Explain the nature and purpose of classificationsin financial statements.

A: Financial statements: These refer to the formal or official records of the activities of the…

Q: Describe the points how to prepare financial statements.

A: Financial Statement:   It refers to the records of an organisation that reports the business…

Q: What is the goals, principles and assumptions of the Conceptual Framework. on financial statements…

A: A conceptual framework is a collection of concepts and goals that lead to the development of a…

Q: Define preparation of financial statements

A: Introduction: Financial statements apply to those statements which at the end of accounting period…

Q: Define Common-size financial statements

A: Definition: Financial statements: Financial statements are condensed summary of transactions…

Q: 18. Explain maj at lengtn. ler

A: What is Financial Statement ? Financial Statements are the reports that give the detail of the…

Q: What is meant by the “articulated” approach to financial statements?

A: Financial statements are the summary of the various transactions and events that occurred in…

Q: Discuss the importance and the use of financial statements.

A: Importance of Financial Statements: Importance to Management: For their intentions, the management…

Q: Distinguish between horizontal and vertical analysis of financial statement data.

A: Following is the difference between horizontal and vertical analysis of financial statement data:…

Q: What are the two measurement bases allowed by the conceptual framework for financial reporting (CF)?

A: The Conceptual Framework is a collection of interconnected goals and fundamentals. The aims and…

Q: What are the three primary objectives of financial reporting?

A: Financial Reporting:   Financial reporting is the process of disclosing the financial results of the…

Q: Explain the difference between financial reporting and financial statements.

A: Financial information refers to the information/data related to the business that is related to the…

Q: Describe four possible types of comparisons that may be made in financial statement analysis

A: Financial statement analysis: Financial statement analysis is a valuable measure for evaluating…

Q: How are operating items projected on financial statements?

A: Solution:- Operating expenses are indirect expenses which includes selling, distribution, admin…

Q: To deter To list: The items included in the definition of financial information and determine…

A: Introduction: Financial statements: A financial statement is a complete record of all financial…

Q: What is articulation of the financial statement means? Elaborate.

A: Financial statements are the statements which plays an important role for an effective investment…

Q: Explain Objectives of Financial Statements.?

A: Financial statements are representative of financial performance of organisation during given period…

Q: Identify and explain the four possible measurement bases?

A: Measurement is the process of determining the monetary amounts at which the elements of the…