Accounting Statments
Balance sheet reserve is a term that is used within the balance sheet of an insurance company. The balance sheet reserve is an expression of liability for the insurance company and in actual it is the amount that is owed by the insurance company
Although there are a number of different types of financial statements but the most important of all those are the income statement, the balance sheet and the statement of cash flows. All these statements are designed and prepared for different purposes. The income statement
As the name indicates a comparative balance sheet is a balance sheet that provides side by side information of a business’s assets, liabilities and shareholder equity multiply in the same time. For example a comparative balance sheet that is to be published at the
An income statement can be constructed in a number of different formats. The most simple and ready to make format is that of a single step income statement format. In the single step income statement a single and accumulated sub total of all the
A classified balance sheet is a kind of balance sheet in which the assets, liabilities and equity accounts are further categorized into sub accounts or sub categories. The classification of the accounts into sub categories is quite useful as it make information more manageable
The statement of cash flow is a financial statement that represents the flow of cash into and out of the company. It also shows the usage of the cash and purposes for which the cash is used. There are three sections of a cash
A budgeted income statement is a projection or representation of a normal income statement with respect to the representation of income statement with future budgets. The budgeted income statement is derived from a number of other budgets and the degree of accuracy of the
Statement of retained earnings is also a financial statement like income statement and cash flow statement. This statement records the changes in the retained earnings of a company for a specific period of time. As we all know that retained earnings are the earnings