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what is ratio analysis
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Answer / shreya
A tool used by individuals to conduct a quantitative analysis
of information in a company's financial statements. Ratios are
calculated from current year numbers and are then compared to
previous years, other companies, the industry, or even the
economy to judge the performance of the company. Ratio
analysis is predominately used by proponents of fundamental
analysis.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / thimmappa poojari
One of the most important tool used for financial reports
analysis in which quantities of amounts are converted into
quantitative ratio for meaningful comparisions with past
financial reports. And also to comapre the
performance /status with that of other simliar / different
industry / firms.
Ratio analysis is a base to understand & to take action on
weaknesses or strengths of the particular firm/business and
so it's a trend setter.
| Is This Answer Correct ? | 1 Yes | 1 No |
What are the different fields of accounting?
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
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Audit 
