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What is the difference between preparing a trial balance and preparing a balance sheet?
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
Is the overall change in cash calculated on the statement of cash flows always the same as the beginning cash balance on the balance sheet?
the difference between the beginning and the ending cash balance on balance sheet
Difference between cash flow statement and cash book?
Cash book is made before making Balance sheet because ash book balance is transfer to balance sheet but Cash flow statement is made after balance sheet. 2. Cash book is subsidiary book of accounts and cash flow statement is a Financial Statement.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
What will the overall change in cash calculated on the statement of cash flow be always the same as?
The difference between the beginning and the ending cash balance on balance sheet.
What is the difference between preparing a trial balance and preparing a balance sheet?
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
What is difference between worksheet and balance sheet?
There is a difference between: Worksheet and Balance Sheet
Is the overall change in cash calculated on the statement of cash flows always the same as the beginning cash balance on the balance sheet?
the difference between the beginning and the ending cash balance on balance sheet
Difference between cash flow statement and cash book?
Cash book is made before making Balance sheet because ash book balance is transfer to balance sheet but Cash flow statement is made after balance sheet. 2. Cash book is subsidiary book of accounts and cash flow statement is a Financial Statement.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
Difference between balance sheet and consolidated balance sheet?
Simple balance sheet provides information of one single company only while consolidated balance sheet provides the information of parent as well as child company as a single financial statement.
What will the overall change in cash calculated on the statement of cash flow be always the same as?
The difference between the beginning and the ending cash balance on balance sheet.
What is the difference between the unadjusted trial balance and the adjusted trial balance?
The difference between adjusted and Un-adjusted trial balance is that in adjusted trial balance the items of balance sheet and income statement are randomly but in adjusted trial balance the items are in tabular form.
Does net income on balance sheet come from income statement?
Yes income in balance sheet is the same amount which is calculated in income statement if there is any difference then it may be due to distribution of net income between retained earnings and dividend.
What is the difference between a balance sheet and a cash flow statement?
Cash flow statement shows the cash inflows and outflows from different business activities while balance sheet shows the overall business situation from commencement to till date.
What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
Difference between fund flow statement and balance sheet?
Difference between fund flow statement and balance sheet?Funds flow statement and balance sheet both are the statements of different nature. Funds flow statement is a statement summarizing the significant financial changes which occurred between the beginning and the end of a company's accounting period while balance sheet is a statement of assets and liabilities at a particular point of time. Here are some of the important differences between the two:Funds flow statement include only those items which causes changes in working capital while balance sheet includes the assets and liabilities of the company and shows total resources of the company.Funds flow statement can be used for decision making purpose while balance sheet is used for examining the financial soundness of the company.Funds flow statement is prepared for the use of internal management and hence its preparation is not mandatory, while balance sheet is for the use of external parties like creditors, shareholders, government and hence its preparation is mandatory for the company.Funds flow statement is prepared after preparation of balance sheet and for a relatively short period of time as compare to balance sheet."Hence it can be said that funds flow statement is not a substitute of balance sheet but it is a supplementary statement and hence they should both be used together in order to reach at right conclusion regarding the financial position of the company"
