Accounting Fundamentals assignment

PART A: USING FINANCIAL STATEMENTS Business band custodyt Question 1: Briefly describe the chief(prenominal) operation (activities) of the company. The main operation of the company Hallenstein Glasson Holdings Ltd is to sell men and womens clothing. Question 2: For whom is the annual physical composition ready. Provide specific compile information here from the Statement of Concepts. The annual report is preparation ard to provide information for external users such as, providers of resources to such entities for originator suppliers, lenders, investors, tax payers or donors; Representatives of classifys such as voters or sh atomic number 18holders, whether the representatives are elected or appointed. Analysis and members of the media concerned with analyzing and reporting the performance of entities. Question 3: Hallenstein Glasson Holding Ltd is a group of companies. persona the financial report to identify 3 companies in the group. The trine companies are:         Hallenstein Bros Limited         Hallenstein Properties Limited         Glassons Limited. Question 4: a)         What is meant by the news report term consolidation? Consolidation message feature two or more organizations fund, etc into one. b)         Explain briefly how it allow apply with the Hallenstein group of companies.

This will apply with the Hallenstein group of companies because on that point is more than one company in spite of appearance Hallenstein Glasson Holdings Ltd which means that they work combined all their funds, debts etc into one which is consolidation. So Hallenstein Glasson Holdings Ltd is consolidated. The Statement of mon! etary Position: Question 5: a)          employ group figures for 2003 year, present the accounting equating Assets = Liabilities + Equity. $56712 = $13242 + $43470 b)         Explain wherefore the accounting equation holds true. The accounting equation holds true because for all execution made on the assets position of the equation you mustiness then put the same transaction on the financial obligation/equity side of the accounting equation. So if you purchase whatsoever fixed assets... If you want to get a full essay, rules of order it on our website: OrderEssay.net

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