Essentials of Good Financial Statements A proper analysis and interpretation of financial statements enables the interested parties to judge the profitability and financial strength of the business. Hence,
Parties interested in Financial Statements There are many people using the financial statements. They are assessing the financial statements in terms of profitability, liquidity and solvency. Some of
Limitations of Cash Flow Statements- Cash flow statement is used as a tool of financial statement analysis. Even though, cash flow statement suffers from some limitations. Such limitations
Evaluation of internal control on loans and advances 1. The internal control system should ensure that the borrowings and advances are within the limits and the persons involved
Guidelines for auditors in Verification of Creditors 1. The postings in purchase ledger are to be checked by verifying the books of prime entry. The postings may be
Guidelines for auditors in verification of Bills Payable It is the duty of the auditor to ensure that the bills that are paid are duly cancelled and only
Guidelines for Auditors regarding verification of Loans from Banks An organization may enjoy a cash credit facility with a bank or avail Term loan from the bank. In
Guidelines for Auditors in Verification of Debentures The Companies (Amendment) Act 2000, has introduced various provisions to safeguard the interest of the debenture holders. The amendment requires the
Characteristics of Retailing Retailers are referred to as middlemen or intermediaries. They occupy a middle position, receiving and gassing on products from producers and wholesalers to customers. Services
The term retailing is derived from the French word “retailer” which means ‘a piece of‘ or ‘to cut up‘. This implies the breaking of bulk quantities of the