What is Financial Statement.

1.	What is Financial Statement.
Answer» Financial statements are statements presenting accounting information in brief at the end of accounting process for an accounting period. As per section-2(40) of Companies Act 2013, financial statement in relation to company includes A profit and loss account or any activity not for profit then an income and expenditure account Balance sheet Cash flow statement A statement of changes in equity if applicable Notes related to the accounts.

Answer»

Financial statements are statements presenting accounting information in brief at the end of accounting process for an accounting period. As per section-2(40) of Companies Act 2013, financial statement in relation to company includes

A profit and loss account or any activity not for profit then an income and expenditure account
Balance sheet
Cash flow statement
A statement of changes in equity if applicable
Notes related to the accounts.

Discussion

No Comment Found

Related InterviewSolutions

What were the two main occupations of the Rig Vedic Aryans?
Name the two political institutions which exercised check on the powers of the King in the Rig Vedic period.
What w’as the position of women in the Rig Vedic age ?
Describe the social life of the Rig Vedic Aryans with reference to the following: (a) The Family Structure (b) Position of Women (c) Varna System
With reference to the following explain the main features of the Rig Vedic Economy: (a) Agriculture (b) Domestication of Animals (c) Trade Transactions, Crafts and Transportation
Mention any two archaeological sources to reconstruct the later Vedic Age.
Mention any two of the Ashrams in the life of a man in Aryan society.
What information do we gather from the later Vedic literature in respect of: (a) Spread of Vedic Civilization to many New Regions. (b) Role of Iron in later Vedic Economy.
Mention briefly the rituals and sacrifices of the later Vedic Aryans?
What is the message of the Bhagavad Gita?

What is Financial Statement.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment