Financial statements are specialized reports that are universally recognized. The GAAP (generally accepted accounting principles) state what needs to be included in these reports. These reports are the income statement, balance sheet and statement of cash flows. These statements are …
Cost Accounting may also be called Managerial Accounting or Management Accounting. This accounting is quite different from normal general ledger or balance sheet accounting. The accountant will work with much more detail, often working with fractions of a penny in …
Liquidity Vs Profitability The financial manager is always faced problems with Liquidity Vs Profitability . He has to strike a balance between the two. Liquidity Vs Profitability The firm has adequate cash to pay for its bills. The firm has sufficient cash …
One of the ironies in business is that insufficient data analysis is often caused by too much information, not too little. A few well-chosen statistics that highlight critical trends and pinpoint areas that require follow-up may be much more useful …
Corporations are managed predominantly on the basis of the income statement. This claim is supported by the fact that target setting for budgets and forecasts is generally done on operating profit (or EBIT or EBITDA, if you like). It is …