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Assessment Audited Financial Report

   

Added on  2020-06-04

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ASSESSMENT 2: AUDITEDFINANCIAL REPORT1
Assessment Audited Financial Report_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3Statement of Cash Flow...................................................................................................................3Income statement.............................................................................................................................4Balance sheet...................................................................................................................................5Statement of equity..........................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................92
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INTRODUCTIONFinancial statements have great use for the firms because by using same its performanceis measured. In the present research study both income statement, balance sheet and cash flowstatements are prepared by using varied facts. All adjustments are taken in to account in order toprepare financial statements and in this way entire research work is carried out. Statement of Cash FlowCash flow statement is a statement that is prepared to identify amount of cash flow that happenedfrom operating, investing and financing activity. There is huge difference between all these activities asoperating activity reflect tasks that are related to production of goods and services at the workplace orcore business operations. On other hand, there are investing activity under which all tasks are listed thatare related to making investment in the business (Fraser, Ormiston and Fraser, 2010). Theseinvestment activities cover all investments that are made in business or in any financial security. On otherhand, there are financing activity under which varied activities are taken in to account that are related toraising funds through stock issue or bank loan and payments made in respect to them. Thus, it can be saidthat scope of cash flow statement is wide in nature.Statement of cash flows Particulars AmountCash flow from operating activities Net profit made during the year 61000Add: Non-cash expenditures Depreciation for the year 40000Less: Profit on sales of non-current assets-1000091000Increase in inventory-9000Increase in receivables -8000Increase in trade payables 28000Corporation Tax payable -10000Cash flow from operating activities 92000Cash flow from investing activities Sales of non-current assets 30000Purchase of non-current assets -195000Cash flow from investing activities -165000Cash flow from financing activities Issue of ordinary shares including share premium 700003
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