Answer:
<h2>what is financial account</h2>
Final Accounts is the ultimate stage of accounting process where the different ledgers maintained in the Trial Balance (Books of Accounts) of the business organization are presented in the specified way to provide the profitability and financial position of the entity for a specified period to the stakeholders and other interested parties i.e., Trading Account, Statement of Profit & Loss, Balance Sheet.
<h2>objects of financial account</h2>
To determine gross profit and net profit of the business during the year. To present the true financial position of the business on a given date. ... To make a summary presentation of all the financial transactions. To communicate the operating results and financial position of the users.
The court would rule in sue's favor because courts seldom inquire into the adequacy of consideration.
In contracts, <em>consideration </em>just means the <em>exchange of things of value</em>. There has to be an exchange of things of value for there to be an enforceable contract, and in this case a watch was exchanged for money. It is rare for courts to rule on how much consideration is expected because people are generally free to set their own prices and not sell if the price is too low. That is not for a court to decide (in most cases).
Explanation:
A company's budget need to be closely linked to the needs of good strategy execution as the company
might utilize the budget as per the strategy to expand, gain capital from divesting to utilize in new initiatives.
The key here is to gain access to capital from different sources in order to utilize them in other present or future investments that will provide the best return. So, it is strategically very relevant to prioritize the budget earnings and spend as per the company strategy.
Answer:
DR BAD DEBTS (EXPENSE) 1958.35
CR ACCOUNTS RECEIVABLE 1958.35
DR ACCRUED INCOME 13 600
CR INCOME TAXES 13 600
The fraud at healthsouth at the structural level of the company was more intense because checks and balances were eliminated and organizational culture was compromised
The HealthSouth fraud took place in an intriguing time of economic expansion and lax laws, which made accounting fraud considerably simpler. Investors and lenders were more concerned with revenue in the 1990s than they were with profitability. Growth was important when a company was asking for funding. CEOs were under pressure, including Scrushy, to maintain company growth and consistently above analyst predictions. Along with this increased demand for growth, there emerged an odd legal climate.
The HealthSouth CFOs (described as: filling "holes" in the balance sheet with "dirt") changed their earnings figures. The fraud went unnoticed until 2003, when Weston Smith, a former HealthSouth CFO, told federal authorities about it. It involved inappropriately capitalizing spending, overestimating insurance reimbursements, overvaluing fixed assets, and employing flawed reserve accounting.
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