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  Financial statements & analysis Financial statements are written records that convey the business activities and the financial performance of a company.  The financial statements are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings potential. The three major financial statement reports are the  Balance sheet Income statement Cash flow statement Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Sources of financial information To effectively evaluate the financial performance of the business requires financial information from three sources: a balance sheet, an income statement and a cash flow statement.  Balance Sheet   A balance sheet is a statement of assets, liabilities, and capital of a business or an organization at a particular point in time, detailing the balance of income and expenditure ov...

  Difference between Vouching , Verification and Valuation  Vouching Verification Valuation Meaning Vouching is a process of comparing the entries in the books of accounts with the bonafide vouchers Verification is a process which proves the existence, ownership and title to the assets Valuation is a process which certifies the correct value of the assets and liabilities at the date of balance sheet. Subject Matter Vouching is made of the entries recorded in the books of original entry and their posting in the ledger Verification on the other hand is made of assets and liabilities appearing in the balance sheet at the end of the year Valuation is also made of assets and liabilities appearing in the balance sheet at the end of the year By whom Vouching is done by the senior auditor and audit clerks. Verification on the other hand is done by the auditor himself or his associates Verification on the other hand is done by the auditor himself or his associates When Vouching is done...

 Started by Zero Waste Europe, International plastic bag Free Day is determined globally on three July. the aim of perceptive these days is to boost awareness against the utilization of this usually non-biodegradable material that causes damage to the environment. The organisation aims to eliminate single-use plastics from our daily use. consistent with Zero Waste Europe, (ZWE) it absolutely was found that as several as ninety-two % of the overall ninety five.5 billion carrier luggage in 2010 were single-use within the EU. The International plastic bag Free Day is determined on July three annually. The day is determined to boost awareness concerning the grave problems with plastic pollution and therefore the serious threat that it poses to the natural surroundings starting from land to marine life. As plastic luggage takes around 100-500 years to decomposes, it creates land pollution because it is drop in landfills and proves venturous to the fauna if gets washed into oceans. So, i...

The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices. Auditors, accountants and corporate officers became accountable for the new set of rules. These rules were amendments and additions to several laws enforced by the Securities and Exchange Commission ( SEC ), including the Securities and Exchange Act of 1934 and the Investment Advisers Act of 1940. The SEC enforces the Sarbanes-Oxley Act. The main areas that the Act is focused on are: Increasing criminal punishment Accounting regulation New protections Corporate responsibility The Act primarily sought to regulate financial reporting, internal audits and other business practices at publicly traded companies. However, some provisions apply to all enterprises, including private companies and nonprofit organizations....