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disa [49]
3 years ago
12

Reporting the financial condition of a business at a point in time and reporting the changes in the financial condition of a bus

iness over a period of time are the two major objectives of_____________.
Business
2 answers:
Alex787 [66]3 years ago
7 0

Answer: Financial Accounting/Financial Statement

Explanation: Financial accounting/statement is the record keeping procedure of an organisations activity. It includes the record keeping of an organisations daily, monthly and yearly activity and the production of a report to show how the organisations activity have been kept.

This has to do with how profitable an organisation is in a month, a year and over a specified period of time.

The main objectives of a financial accounting/ statement is to report the financial condition of a business at a point in time and to report the changes in the financial condition of a business is over a period of time.

This will help the organisation in their decision making process.

vazorg [7]3 years ago
5 0

Answer:The chief accounting officer

Explanation:

The chief accounting officer of a business organizations is charged with the responsibility of preparing the financial statements of the business which shows the financial position of the business for the period under review. The financial statements prepared by the accountant to show the financial position of the business could be in the following forms

Income statement : The income statement is the account prepared in order to show the financial performance of the business in the period under review. The income statement shows the ultimate result of the business efforts for the accounting period by indicating the net profit or loss made by the business in the accounting period.

Balance sheet : This is prepared to present a true and fair view of the financial position of the business at a given date. It a statement which shows the debit and credit balances of assets and liabilities of the business in the accounting period. It is prepared from the balances of the account that remains open on the books after the preparation of the trading profit and loss account or income statement of the business.

Cash Flow statement : This is a statement prepared in order to show the flow of cash into and out of the business within the accounting period. Cash is the most important current asset for the operation of a business and it should be readily available to carry out all the activities of the business. It is needed in order to ensure the solvency of the business.

Statement of owners Equity : This is a statement prepared in order to show the shareholders equity in the business. It includes the shares issued out to the investors, dividend paid by the business to shareholders, the retained earnings, the business net income in the period under review.

You might be interested in
which of following budget would not be prepared by a retailer? Administrative, Sales, cash, production.
alexgriva [62]

Answer:

Production.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year.

Basically, budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The key principle of supply chain management can be best summed up as collaboration between multiple firms. Thus, these multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.

A retailer can be defined as an individual or company that buys finished goods directly from a wholesaler and sells directly to the end users (consumers).

In this context, a retailer would prepare an administrative, sales and cash budget but certainly wouldn't prepare a production budget because retailers aren't saddled with the responsibility of producing goods.

Simply stated, a production budget would be prepared by a manufacturer or producer.

8 0
3 years ago
1. Dividends are paid out of profits, and:
Mashutka [201]
 Dividends are paid out of profits, and acording to the basic rules of personal finance dividends are usually paid twice a year.
What about the next one, the answer is D. You must always consider the tax consequences of selling your investments. because <span>inancial planner has to adept such fields.</span>
6 0
3 years ago
Read 2 more answers
Kline Construction is an all-equity firm that has projected perpetual EBIT of $320,000. The current cost of equity is 12.3 perce
miskamm [114]

Answer:

$1,879,215.61

Explanation:

Given that,

EBIT = $320,000

Current cost of equity = 12.3%

Tax rate = 40 percent

Value of perpetual bonds = $936,000

Annual coupon rate = 6.5 percent at par

Value of the unlevered firm:

= [EBIT × (1 - Tax rate)] ÷ Current cost of equity

= [$320,000 × (1 - 0.4)] ÷ 0.123

= $192,000 ÷ 0.123

= $1,560,975.61

Value of the levered firm:

= Value of the unlevered firm + (Tax rate × Value of perpetual bonds)

= $1,560,975.61 + (0.34 × $936,000)

= $1,560,975.61 + $318,240

= $1,879,215.61

4 0
4 years ago
Ski Safety sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its co
UkoKoshka [18]

Answer: Cost focus strategy

Explanation:

 The cost focus strategy is one of the type of business strategy in which the various types of companies or organizations are try to expand their marketing segments and also emphasizing the cost in the market.  

 The cost focus strategy is one of the important element and component  of the generic marketing strategy in the market.  

According to the given question, the ski safety selling the various types of products for the rescue purpose and it outlining the main objective and start selling on the basis of emergency at very high cost.

Therefore, Ski safety is basically pursing the cost focus strategy.

8 0
4 years ago
Looking for cost savings in administrative areas, the vice-president for human resources at McMahon Corporation asked his assist
givi [52]

Answer:

McMahon Corporation

Partial productivity measures for labor for the four locations:

                               Mobile     Pecos     Spokane     Lansing

Labor productivity   3.26         3.93          3.29           2.48

(meals per labor

hour)

Explanation:

a) Data and Calculations:

                               Mobile     Pecos     Spokane     Lansing   Total

Meals served        114,000   216,000     74,000       13,500   417,500

Labor-hours          35,000    55,000     22,500        5,250    117,750

Labor productivity  3.26         3.93            3.29           2.48      3.55

b) Labor productivity is computed as total output divided by labor-hours (labor input).  It is the manpower or workforce productivity.  It is one of the productivity measures with capital as the other measure.

3 0
3 years ago
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