This organization also states that the board and management stand behind these financial statements and includes pictures of their Board Chairperson and Chief Executive Officer. No, the Statement of Activities is one of several essential financial statements for nonprofits. In addition to the Statement of Activities, you should also prepare a Statement of Financial Position […]
When looking at the results from the calculation, they fall into the following buckets based on the price elasticity of demand. From the example above, we reached a price elasticity of demand of -2. Well first of all, it is important to highlight that we do not consider negatives. Gold, jewellery, precious stones, motor cars […]
You should include only revenue and expenses that relate to 2019 and not include any revenue or expenses relating to matters which should properly be accounted for in 2018 or 2020. The accruals concept is often used to refer to both accruals (outstanding or unpaid expenses) and prepayments (payments in advance) (payments in advance). The […]