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Asset accounts definition

Accounting Tools

The general categories of asset accounts are as follows, along with the accounts commonly used within each category: Current Asset Accounts Cash. Includes both debt securities and equity securities, as long as they can be liquidated within a short period of time. Includes bills and coins on hand, such as petty cash.

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Management assertions in auditing

Accounting Tools

The assertion is that all reported asset , liability , and equity balances have been fully reported. The assertion is that all account balances exist for assets, liabilities, and equity. The assertion is that all asset, liability, and equity balances have been recorded at their proper valuations. Rights and obligations.

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Comprehensive income definition

Accounting Tools

Comprehensive income is the change in the equity of a business during a reporting period , not including the purchase or sale of stock or the distribution of dividends. Related Articles Other Comprehensive Income (podcast) Other Comprehensive Income Reclassifications (podcast)

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How do you write a Balance Sheet

Spenmo

In this article, we break down the know-how. Understanding the elements of a balance sheet You’ll first have to understand the three basic elements of the balance sheet – Assets, Liabilities, and Equity. Depending on the complexity of your business nature, you may need a more detailed asset category.

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Guide to Filing Financial Statements for Business Owners in Singapore

Counto

These statements provide a snapshot of a company’s financial health and include the following components: Balance Sheet : Also known as the statement of financial position, it showcases a company’s equity, assets, and liabilities at a specific point in time. Let our pro team take care of your accounting and taxes.

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Financial ratio analysis

Accounting Tools

Types of Financial Ratios The categories of financial ratios that are used for analysis purposes are noted below, under the categories of performance ratios, liquidity ratios, leverage and coverage ratios, and activity ratios. The most common of these ratios are the debt to equity ratio and the times interest earned ratio.

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What is Covered Under the Employment Act? An Employer’s Guide

Counto

Summary The Employment Act serves as a cornerstone of employment relations in Singapore, fostering a framework of fairness, equity, and mutual respect between employers and employees. Strict adherence to statutory requirements maintains a conducive work environment and upholds the rights of all stakeholders.

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