Accounting Fundamentals assignment

PART A: USING FINANCIAL STATEMENTS Business circumvent custodyt Question 1: Briefly describe the chief(prenominal) operation (activities) of the company. The primary(prenominal) 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 compose information here from the Statement of Concepts. The annual report is grooming ard to provide information for external users such as, providers of resources to such entities for case law suppliers, lenders, investors, tax payers or donors; Representatives of concourses such as voters or sh areholders, whether the representatives are elected or appointed. Analysis and members of the media concerned with analyzing and reporting the death penalty of entities. Question 3: Hallenstein Glasson Holding Ltd is a group of companies. workout the financial report to identify 3 companies in the group. The common chord comp anies are:         Hallenstein Bros Limited         Hallenstein Properties Limited         Glassons Limited. Question 4: a)         What is meant by the news report term consolidation? Consolidation means feature two or more organizations fund, etc into one. b)         Explain curtly 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 Hallenstein Glasson Holdings Ltd is consolidated. The Statement of monetar! y Position: Question 5: a)          exploitation 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 every(prenominal) execution made on the assets position of the equation you mustiness then put the same transaction on the liability/equity side of the accounting equation. So if you purchase somewhat fixed assets... If you want to get a full essay, nightclub it on our website: OrderEssay.net

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