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balance sheet refers to position of assets n liabilities @ end of s yr..but stt of affairs refers to transactions entered into by the comp. durin tat yr..generaaly stt. of affairs is prepared in absence of bal sheet (ie) if bal sheet cudn b prepared due to unavoidable circumstances or its prepared,but currently N/A
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What is the Similarities between statement of affairs and balance sheet?
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What is the process of analyzing the differences between the bank statement balance and the checkbook balance is?
The process is bank reconciliation.
Causes of differences between of the cashbook balance and the bank statement balance?
1.deposit in transit 2.outstanding cheque 3.memoranda
Difference between outstanding balance and Statement Balance?
speelling
What are the reasons for differences between bank statement balance and cash book and passbook balance?
This is due to certain errors in the entries. That is the bank and cash books. Some of these errors are addition. When there is unpresented cheques and uncredited cheques.
What is the Similarities between statement of affairs and balance sheet?
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What is the process of analyzing the differences between the bank statement balance and the checkbook balance is?
The process is bank reconciliation.
Causes of differences between of the cashbook balance and the bank statement balance?
1.deposit in transit 2.outstanding cheque 3.memoranda
Difference between outstanding balance and Statement Balance?
speelling
What are the reasons for differences between bank statement balance and cash book and passbook balance?
This is due to certain errors in the entries. That is the bank and cash books. Some of these errors are addition. When there is unpresented cheques and uncredited cheques.
Why there is a difference between cash account in the campony's book and bank statement balance in bank?
The cashbook (account) in the company's books reflects all cheques written to suppliers and all cheques received from customers. However, the bank statement balance shows only cheques that have cleared. So at any date there can be a difference between the cashbook and the bank statement, comprising of cheques issued and/or cheques received but yet to clear and be debited/credited to the bank balance. There may also be differences due to accounting errors or omissions. In doing a bank reconciliation these differences can be identified and corrected.
The process of analyzing the different between the bank statement balance and the checkbook balance is?
Bank reconciliation
What is the difference between balance sheet and a statement of affair?
A balance sheet is a list that summarizes all financial information of a company. This includes liabilities (what the company owes) and assets (the company's economic resources). A statement of affairs, on the other hand, is specifically used by a debtor to show all of their assets and liabilities, usually for purposes of evaluating a case of bankruptcy.
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"
What are causes of differences between the bank statement balance and a person's check register?
When a check is issued to a creditor or is recieved and then banked there is always a delay varying between 2 and 7 working days for the banks to transfer to or from the account. This can mean that the statement is up to date only with transactions that they have received or had to pay out.
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.
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.
