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In accounting, "off-balance-sheet" (OBS), or incognito leverage, usually describes an asset, debt, or financing activity not on the company's balance sheet. Total return swaps are an example of an off-balance-sheet item. Some companies may have significant amounts of off-balance-sheet assets and liabilities.
In financial accounting, a cash flow statement, also known as statement of cash flows, [1] is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing and financing activities. Essentially, the cash flow statement is concerned with ...
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.
The accounting equation relates assets, liabilities, and owner's equity: Assets = Liabilities + Owner's Equity. The accounting equation is the mathematical structure of the balance sheet. Probably the most accepted accounting definition of liability is the one used by the International Accounting Standards Board (IASB). The following is a ...
Example of owner financing Say a buyer is interested in a home priced at $380,000 and plans to put down $38,000, or 10 percent. Due to credit or financial circumstances, the buyer can only qualify ...
In cost accounting, classification is basically on the basis of functions, activities, products, process and on internal planning and control and information needs of the organization. Financial accounting aims at presenting 'true and fair' view of transactions, profit and loss for a period and Statement of financial position (Balance Sheet) on ...
The judge ruled in favor of the dog, noting that dogs "are universally recognized as a man's (in this case a woman's) best friend." She also said Leo reacted to the man's "physical proximity and ...
Audits of finance companies (including independent and captive financing activities of other companies), with conforming changes as of May 1, 1994 full-text: 24-06: 1996: Audits of finance companies (including independent and captive financing activities of other companies), with conforming changes as of May 1, 1996 full-text: 24-07: 1997