Category: Fundamentals of Financial Reporting

4 TYPES OF AUDIT OPINION UNQUALIFIED OPINION (CLEAN OPINION): This is the best type of audit opinion a company can receive. It indicates that the financial statements present a true and fair view of [Read More...]

Basic Accounting Entries S.No Transaction Accounting Entry Amount (₹) Explanation 1 Capital introduced by owner Dr Cash/Bank 1,00,000 Increase in cash/bank (asset). Cr Capital 1,00,000 Recognition [Read More...]

Financial Planning and Analysis (FP&A) is a key function in corporate finance that focuses on budgeting, forecasting, and financial analysis to support strategic decision-making. It is essential [Read More...]

A Statutory Audit Report in Nepal is a mandatory report issued by a licensed auditor after reviewing a company's financial statements to ensure compliance with the legal and regulatory requirements [Read More...]

Financial ratios are essential tools used to evaluate a company’s performance and financial health. They are categorized into various types based on their purpose: Liquidity Ratios These ratios [Read More...]

Management Discussion and Analysis (MD&A) Management Discussion and Analysis (MD&A) is a key section of an organization’s annual report or financial disclosures. It provides a narrative [Read More...]

Notes to Accounts in Financial Statements Notes to Accounts (also called Notes to Financial Statements) are an integral part of financial reporting. They provide additional details, explanations, and [Read More...]

Comprehensive Profit and Loss Account The Comprehensive Profit and Loss Account, also called the Statement of Comprehensive Income, provides a complete overview of a company’s financial performance [Read More...]

Statement of Shareholders' Equity The Statement of Shareholders' Equity (also known as the Statement of Changes in Equity) is a financial statement that outlines the changes in a company's equity [Read More...]

Steps to Prepare a Cash Flow Statement The preparation of a Cash Flow Statement (CFS) involves classifying cash inflows and outflows into operating, investing, and financing activities. It can be [Read More...]