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The purpose of an analysis of an account is to illustrate - in the account for the period under audit
Archy [21]

Answer:

all changes

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

The purpose of an analysis of an account is to illustrate all changes in the account for the period under audit. Thus, an audit of historical financial statements most commonly includes the balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity.

There are two (2) main types of financial analysis;

I. Vertical analysis.

II. Horizontal analysis.

In Financial accounting, Horizontal analysis can be defined as an analysis and evaluation of a financial statement which illustrates or gives information about changes in the amount of corresponding financial statement items, benchmarks or financial ratio over a specific period of time. It is one of the most important technique that is used to measure how a business is doing financially. Hence, it is also referred to as the trend analysis.

Under the horizontal analysis of financial statement, we use the financial statements of two or more periods; earliest and latter periods.

Generally, the earliest is chosen as the base period while all other items on the statement for a latter period will be compared with the items on the statement of the base period.

3 0
2 years ago
Ability to visualize and implement possible business solutions
likoan [24]
This is known as Data Visualization
4 0
3 years ago
On 20/07/2019, "ABC" Company sold goods to customer "X" with a total value of $120.000 The customer pad
shepuryov [24]

Answer:

1) total sales revenue = $120,000

this amount holds regardless of how much money was collected in cash or if an account/note receivable was recorded

2) the company must recognize interest revenue:

principal = $72,000

interest revenue = $72,000 x 10% x 40/360 days = $800

Dr Interest receivable 8000

    Cr Interest revenue 800

4 0
2 years ago
you work with a group of employee's who are in their early 20s. Which of the following methods of communication should you use t
Troyanec [42]
Please give the options in order for us to determine which is best.
5 0
2 years ago
Assume that per capita income is growing at different rates in the following countries: Nepal, 0.7 percent; Kenya, 1.3 percent;
Blababa [14]

Answer:

100 years

53.8  years

10.1  years

18.4  years

Explanation:

country to double given its growth rate

Number of year for GDP to double = 70 / growth rate of country

1. 70 / 0.7 = 100

2. 70 / 1.3 = 53.8

3. 70 / 6.9 = 10.1

4. 70 / 3.8 = 18.4

4 0
2 years ago
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