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Softa [21]
3 years ago
15

What do you mean by final account? Mention its objectives​

Business
2 answers:
Aleksandr-060686 [28]3 years ago
6 0

Answer:

What are Final Accounts?

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 Shee

Explanation:

Objectives of Final Accounts

They are prepared for the calculation of Gross profit & net profit earned by the organization for the relevant period by presenting the Statement of Profit & Loss.

The Balance sheet is prepared for providing the correct financial position of the company as on the date.

These accounts use the bifurcation of direct expenses to obtain the gross profit & loss and bifurcation in indirect expenses to ascertain the Net profit & loss for the organization.

These accounts through the Balance sheet bifurcate the assets & liabilities as per the holding & usage periods of the same

Alinara [238K]3 years ago
5 0

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.

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What are the four areas of​ finance? Give an example of a financial activity that would fall into each area. ▼ Corporate Finance
chubhunter [2.5K]

Answer:

The correct answer is:

  1. Corporate Finance
  2. Investments
  3. Financial Institutions
  4. International Finance

Explanation:

Corporate finances are those that are related to the analysis and study of business variables that maximize shareholder value.

Corporate finance encompasses important investment decisions such as:

  • Remuneration of dividends,
  • Own or third-party financing,
  • The level of indebtedness and leverage,
  • The optimization of the risk-benefit ratio, its liquidity level,
  • The need for investment to develop
  • The evaluation of the opportunity cost of an investment, the financial model to be adopted and the repayment terms.
  • The efficiency of cash flows.

The first example as it can not be otherwise is the bag. Everyone who thinks about investments immediately receives the thought that if you can get a lot of money for an investment it is in the stock market. And in theory this is true. There are companies that have gone public and in a very short time have managed to increase their profits by multiplying by a lot what their investors contributed. Some of them have sold their shares and today they live on income.

A financial institution is an institution that provides financial services to its clients or members. Probably the most important financial services provided by financial institutions is to act as a financial intermediary or financial intermediaries. Most financial institutions are regulated by the government;

6 0
3 years ago
Read 2 more answers
Gould Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activi
oee [108]

Answer:

$10,241.53

Explanation:

Using the activity-based costing system, Overhead cost for Product K91B would be?

Setting up batches 89 batches x $59.56=                   $5300.84

Processing customer orders 39 orders x $72.96=      $2,845.44

Assembling products 493 hours x $4.25=                   $2,095.25

Total Overhead cost                                                      $10,241.53

7 0
3 years ago
In April, Holderness Inc, a merchandising company, had sales of $251,000, selling expenses of $17,000, and administrative expens
Rainbow [258]

Answer:

The net income is $59,000

Explanation:

Please refer to the attached file for calculation.

3 0
4 years ago
A principal objection to the straight-line method of depreciation is that it...(a)provides for the declining productivity of an
enot [183]

Answer: Option B

Explanation: Under the straight line method of depreciation, the value of the asset is divided equally to its useful life. It is computed as follows :-

=\:\frac{Cost\:-salavge\:value}{useful\:life}

NOW,

A. Straight line method as per the above equation provides for equal productivity.

B. Dividing the usefulness equally results in ignorance of change in the rate of asset use as the asset may be used less initially but more in later years.

C. As the expense from the method remains same and the actual value of the asset diminishes it results in higher rate of return.

D. Decreasing charge method charge depreciation on written down value whereas straight line charges t initial cost thus it gives higher write offs than decreasing charge.

6 0
3 years ago
Hardware is adding a new product line that will require an investment of $ 1 comma 476 comma 000. Managers estimate that this in
OleMash [197]

Answer:

42,51%

Explanation:

Accounting Rate of Return (ARR) = Average Profits / Average Investment

Calculation of Average Profits

Average Profit = Sum of Profits / Number of Years

                        = (300,000+290,000+240,000×8)/10

                        = $2,510,000 / 8

                        = $313,750

Calculation of Average Investment

Average Investment = Initial Investment + Scrape Value / 2

                                  = $1,476,000/2

                                  = $738,000

Accounting Rate of Return (ARR) = $313,750/$738,000×100

                                                      = 42,51%

5 0
3 years ago
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