What is Specific Reserve? A specific reserve is one, which is created for some specific purpose by debiting Profit and Loss Appropriation Account. Normally, it is available for
What are Secret Reserves The term secret reserve refers to a reserve the existence of which is not disclosed in the Balance Sheet. Secret reserves are also called
What are Reserve funds? The word “Fund” in relation to any reserve can be used only where such a reserve is specifically represented by earmarked investments. In other
Meaning of Vouching Vouching involves not only the substantiating the entry in the books of account with any documentary evidence like assessments, receipts, counterfoils of receipt book or
Guidelines for Physical Evidence Strategy in Services Marketing Since services are intangibles, management of physical evidence is highly difficult. The following are some general guidelines for an effective
Types of financial statement analysis Financial statements analysis are classified according to their objectives, Materials used and Modus operandi. Financial statement analysis, according to objectives are further subdivided
Procedure of Financial Statement Analysis A common procedure is followed for financial statement analysis. Such procedure is briefly explained below. 1. Objective of Analysis: The objective of analysis
The mere preparation of Profit and Loss Account and Balance Sheet does not give more information for managerial decision making. Hence, there is a need for analyzing the
Limitations of financial statements Most of the limitations are due to recorded facts, accounting rules and conventions and personal judgements. If proper care is taken and specifically prepare
Functions and Importance of financial statements. The following are some of the functions and importance of financial statements. 1. Importance of Financial Statements to Management: Management needs the