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What do you mean by analysis …

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What do you mean by analysis and interpretation

Posted by Catherine Henry Hendry 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

Analysis and interpretation of financial statements means looking at the various parts of the financial statements, relating the parts to each other and to the picture as a whole, and determining if any meaningful and useful interpretation can be made. Analysis refers to the process of fact-finding and breaking down a complex set of figures into simple components while interpretation stands for explaining the real significance of those simplified components. Thus, an analysis is a pre-requisite to the interpretation.

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Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

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CBSE > Class 11 > Accountancy

0 answers

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CBSE > Class 11 > Accountancy

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