Tag Archives: #FinancialStatementDisclosure

Are there any provisions for taxes or other contingent liabilities on the balance sheet?

Provisions for Taxes   Provisions for taxes are liabilities that are recognized when a company has a present obligation as a result of a past event and it is probable that an outflow of resources will be required to settle the obligation.  are typically recorded in the balance sheet as a liability and they are… Read More »

When financial statements are prepared?

f Financial statements   Financial statements, these are typically prepared at regular intervals, usually at the end of an accounting period. The most common accounting periods are: 1. Monthly: Some businesses, especially smaller ones or those with more frequent financial reporting needs, prepare financial statement on a monthly basis. This allows for more frequent monitoring… Read More »

Are business financial statements public information?

Business financial statements: Yes, in many countries, business financial statements are considered public information and are made available for public access. The specific requirements for disclosure and accessibility may vary depending on the country and the legal framework in place. In general, publicly traded companies typically require to file their financial statements with the relevant… Read More »

How to prepare provisional financial statements?

Provisional Financial Statements   Preparing provisional financial statements entails the development of interim financial statements for a designated timeframe prior to the availability of the final statements. Here are the steps to prepare Provisionals financial statements: 1. Gather Available Data: Collect all available financial data for the period you want to prepare the pro visional… Read More »