Tag Archives: #FinancialReports

What type of financial reports does the business/organization prepare?

Financial Reports Businesses and organizations typically prepare various financial reports to assess their financial performance, communicate financial information to stakeholders, and support decision-making. Some common types of financial reports include: 1. Income Statement (Profit and Loss Statement): This report summarizes the revenues, expenses, and resulting net income or net loss over a specific period.… Read More »

No statutory dues certificate format?

No Statutory Dues Certificate A “no statutory dues certificate” is a document that confirms the absence of any outstanding statutory obligations or dues owed by an individual or organization. It serves as a declaration that all required statutory payments, such as taxes, fees, penalties, or other financial liabilities, have been duly settled. While… Read More »

Q23.9 Making Turnover Certificate: How to make turnover certificate ?

Making Turnover Certificate Making Turnover Certificate, you can follow these general steps: 1.Gather Financial Information: Collect the necessary financial information related to the turnover you want to include in the certificate. This may involve reviewing financial statements, sales records, revenue reports, or any other relevant documents. 2.Determine the Time Period: Specify… Read More »

Project finance reports?

Project finance analysis Project finance analysis are complete documents that provide an overview of the financial aspects of a specific project. These reports are prepared to assess the financial feasibility, viability, and potential risks associated with the project. Here are some key components typically included in project finance reports: Executive Summary: A brief summary… Read More »

Why 15CA/CB is required?

Form 15CA CB purpose Form 15CA CB purpose, The Indian government mandates the use of 15CA and 15CB forms for specific financial transactions involving non-residents. Here’s a brief explanation of each form: 1.Form 15CA: This form is use for remittances (money transfers) that are subject to tax deduction at source (TDS) under the Indian Income… Read More »

Is inventory asset classification current or non-current asset?

Inventory Asset Classification Inventories is typically categorized as a current asset in the balance sheet of a business. Inventory Asset Classification is because inventory expect to sell or consume within the normal operating cycle of the business, which is usually within one year. However, if the inventory is held for a longer period of time,… Read More »

What is a preliminary expense and how is it treated in a balance sheet?

What is a Preliminary Expense Preliminary Expense are the expenses that a company incurs before it starts its operations. These expenses are relate to the formation, registration, and organization of the company, such as legal fees, accounting fees, and other administrative costs. In accounting, preliminary expenses are treat as an intangible asset and are shown… Read More »