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Final accounts gives an idea about the profitability and financial position of a business to its management, owners, the public and other interested parties. All business transactions are first recorded in a journal .
The FBISE was established under the FBISE Act 1975. [2] It is an autonomous body of working under the Ministry of Federal Education and Professional Training. [3] The official website of FBISE was launched on June 7, 2001, and was inaugurated by Mrs. Zobaida Jalal, the Minister for Education [4] The first-ever online result of FBISE was announced on 18 August 2001. [5]
Financial statements display the income and expenditure for the company and a summary of the assets, liabilities, and shareholders' or owners' equity of the company on the date to which the accounts were prepared. Asset, expense, and dividend accounts have normal debit balances (i.e., debiting these types of accounts increases them).
Examples of common financial accounts are sales, accounts [1] receivable, mortgages, loans, PP&E, common stock, sales, services, wages and payroll. A chart of accounts provides a listing of all financial accounts used by particular business, organization, or government agency.
Liability accounts are used to recognize liabilities. A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations. Equity accounts are used to recognize ownership equity. The terms ...
A study led by Mayo Clinic found a “widening gap between lifespan and healthspan" among 183 countries. The lead researcher and another doctor discuss the drivers of poor health late in life.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
Just before 7 a.m. on Wednesday, Dec. 4, Brian Thompson, 50, was shot to death by a masked gunman in an apparent targeted attack, police said according to multiple reports including ABC, The New ...