Hidden knowledge Flashcards
things derived from practicing, hidden knowledge not found in textbook.
1
Q
Which financial statement follows a different rule when it comes to listing the date?
A
The Statement of Financial Position which justs lists the date
Every other statement (Statement of Income, Statement of Changes in Equity, and Statement of Cash Flows) follows the form Period Ended Date
2
Q
What do brackets mean for a value in a statement?
A
It means we have to deduct (subtract)
for example: dividends declared
