- The final product of the accounting process is the balance sheet.
- A balance sheet is a first statement that provides a summary of what a company owns and what it owes on one particular day.
- It provides information for a specific point in time, for example, on January 30, 1993.
- Assets represent everything of value that is owned by a business, liabilities are the debts which is a company owes.
- Owners or stockholders equity is determined by subtracting liabilities from assets.
- It can be represented by the fundamental accounting equation assets equal liabilities plus owner equity.
- Yes, it does. Because one side must equal the other. If not, it must be wrong with the recording.
- A balance is useful for a business, because it provides a financial picture of a company on a particular day. It provides managers with financial information for company decision making.
INFO Pengesahan Hardcover Penulisan Ilmiah – Mulai 14 Oktober 2020
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