Tag Archives: liabilities

FIN621 GDB Solution Spring 2017

Financial Statement Analysis (FIN621) Correct recording of different journal entries and understating the nature of assets, liabilities, cash flows and equity are crucial factors in accounting and challenge for accountants. A minor mistake in understating the nature of an event may distort the overall financial position of the company. You are required to identify the […]

MGT101 Financial Accounting GDB Solution Spring 2014

During a financial year, a business may experience thousands of transactions. It is the responsibility of an accountant to classify and record these transactions as well as to summarize the data in these transactions to create useful information. Every business transaction has two aspects. One aspect is debited while the other is credited. Both of the aspects have to be recorded in accounts appropriately. Accountants use the term debit for […]