Create an account
the process of identifying, measuring and communicating information to permit informed judgments and decisions by users of the information
the value of total assets minus current liabilities minus long-term liabilities; equal to capital and reserves on the balance sheet
the long-term liabilities of a plc - any amount of money owed for more than a year
the funds left over to meet day-to-day expenses after current debts have been paid; current assets minus current liabilities
a financial document showing a company's revenue/income and costs/expenditure over a particular time period, usually one year; aka profit and loss account
profit and loss account
shows net profit after tax by subtracting business expenses and taxation from operating profit
profit and loss appropriation account
shows how the profit after tax is distributed between shareholders and the business
occurs when profits are sustained over a period of time; there is low profit quality if profit in one time period is mainly due to some one-off factor which is not sustainable
profit on ordinary activities before taxation; total sales revenue or turnover minus cost of sales and overheads
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