Definition & Meaning: The combined financial statements of a parent company and its subsidiaries. Definition of ’Consolidated Financial Statements’: Consolidated financial statements are the combined financial statements of a company and all of its subsidiaries‚ divisions‚ or suborganizations. Explanation: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries‚ they enable you to gauge the overall health of an entire group of
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Purpose of Financial Statements The objective of financial statements is to provide information about the financial position‚ performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions (IASB Framework). Financial Statements provide useful information to a wide range of users: Managers require Financial Statements to manage the affairs of the company by assessing its financial performance and position and taking important business
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Chapter 2 Introduction to Financial Statement Analysis 2-1. What are the four main financial statements? What checks are there on the accuracy of these statements? The four financial statements are: the balance sheet‚ the income statement‚ the statement of cash flows‚ and the statement of changes in shareholders’ equity. Financial are required to be audited by a neutral third party‚ who checks and ensures that the financial statements are prepared according to GAAP or accounting standards
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its known anti-diabetes properties. Ampy Jam is made out of bitter gourd and special sweeteners which can also be served to diabetic people. Many diabetic people suffer from their sickness which also affects their eating habit; diabetic people are not suitable to eat sweet food because it can affect their blood sugar. Jam and candies is one of the foods that can put diabetic people into trouble. Ampy Jam is the solution for their craving in sweet foods‚ delivering a smooth sweet yet bitter food that
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No one doubts the value and importance of investor education and sophistication‚ but many investors are not really all that sophisticated. Goldman Sachs was scrutinized for marketing complex securities to its investors without telling them that a major hedge fund had taken a short position against these securities. The so-called sophisticated investors lost about $1 billion in this synthetic collateralized debt obligation (CDO). The SEC investigation of Goldman Sachs has emphasized that even
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A SUMMER PROJECT REPORT ON “FINANCIAL STATEMENT ANALYSIS” Submitted for the partial fulfillment of the requirement of the degree of Master of Business Administration‚ Under BPUT‚ Rourkela‚ Orissa [pic] 2008-10 ROURKELA STEEL PLANT‚ SAIL SUBMMITTED BY AHWAN MAHAKUDA ROLL NO.0806806036 GUIDENCE UNDER INTERNAL GUIDE EXTERNAL GUIDE Mr. SURESH KU SAHOO Mr. G. ARORA Lecture in Finance
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Report on Financial Statement Fraud Scheme Case Study: The Importance of Timing ACC/556 Professor University of Phoenix December 19‚ 2011 Memo To: The Management From: Forensic Auditor Date: 12/19/2011 Subject: Case Study on the Importance of Timing and Financial Statement Fraud Scheme As our company is in process of conducting investigation to detect any financial statement fraud or abuse‚ I have come across the case where expenses were recorded in the financial
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Patrick Henry was one of the leading figures in the American Revolutionary time period and left an impact in later years. An outspoken opponent of the Stamp and Townshend Acts imposed by England‚ he stirred the conflict with his famous “Give Me Liberty or Give Me Death” speech and although he opposed the formation of the U.S. Constitution as a threat to the liberties and rights of the individual states‚ his criticisms helped bring upon the amendments that are known as the Bill of Rights. Furthermore
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accountant to overlook certain financial figures from a balance sheet that may portray the business in a bad light to the public and investors. Omission may not seem like a significant breach of accounting ethics to an accountant because it does not encompass direct operation of numbers or records. This is specifically why an accountant must remain ethically cautious to circumvent falling into such a trap. Accountants need to be educated on what forms of financial statements frauds can be committed and
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Why were plebeians so important to Rome? There are probably several reasons why the Plebeians were so important to Rome. But to comprehend these facts‚ we need to comprehend the origin of the Plebeian people. The Plebeian people were believed to have come to Rome after the Patricians had founded Rome. They probably were the descendant of immigrants who were poor and in search of a better life (Santarpia‚ n.d.). The Plebeians were a poor working class whose activities relates to working in farms‚
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