Accounting Fundamentals assignment

PART A: USING FINANCIAL STATEMENTS Business contact custodyt Question 1: Briefly describe the chief(prenominal) operation (activities) of the company. The important 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 frame information here from the Statement of Concepts. The annual report is homework ard to provide information for external users such as, providers of resources to such entities for reason suppliers, lenders, investors, tax payers or donors; Representatives of concourses such as voters or shargonholders, whether the representatives are elected or appointed. Analysis and members of the media concerned with analyzing and reporting the action of entities. Question 3: Hallenstein Glasson Holding Ltd is a group of companies. utilization the financial report to identify 3 companies in the group. The cardinal companies are:      Â Â Â Â Hallenstein Bros Limited         Hallenstein Properties Limited         Glassons Limited. Question 4: a)         What is meant by the news report term consolidation? Consolidation agent feature two or more organizations fund, etc into one. b)         Explain presently 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 indoors Hallenstein Glasson Holdings Ltd which means that they work combined all their funds, debts etc into one which is consolidation. So Hal lenstein Glasson Holdings Ltd is consolidate! d. The Statement of monetary Position: Question 5: a)          apply group figures for 2003 year, present the accounting equating Assets = Liabilities + Equity. $56712 = $13242 + $43470 b)         Explain why the accounting equation holds true. The accounting equation holds true because for all(prenominal) execution made on the assets position of the equation you moldiness then put the same transaction on the indebtedness/equity side of the accounting equation. So if you purchase rough fixed assets... If you want to get a full essay, holy order it on our website: BestEssayCheap.com

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