To ascertain example sentences



Apart from these companies whose shares are listed on the stock exchange, are required to publish quarterly results to ascertain the profitability and financial position at the end of every three months period.To ascertain profit or loss or for obtaining any other information, necessary figureures can be collected only from the original vouchers such as sales invoice or purchase invoice, etc.This is to ascertain the amounts if: (a) outstanding expenses; (b) prepaid expenses; (c) purchase of a fixed asset during the year; (d) depreciation on fixed assets; (e) stock of consumable items like stationery in hand; (f) Closing balance of cash in hand and cash at bank as, and so on.The accounting year has already been ended and the books are now finalised to ascertain true profit or loss.Therefore, the problem faced in this situation is how to use the available information in the incomplete records to ascertain the profit or loss for the particular accounting year and to determine the financial position of a entity as at the end of the year.This also helps comparison with other firm s to ascertain its reasonableness and capacity to pay dividend.Hence, we have to ascertain the causes for such difference.Further, it may not always be possible to ascertain with certainty the amount of some particular expense.But, they also have to ascertain the profit or loss for the year and the financial position of the firm as at the end of the year.To ascertain any missing item of receipt or payment, we may prepare a cash book summary showing all receipts and payments during the year and the balancing figureure is taken as the amount of missing item.For other items we have explained as to how available information can be used to ascertain their missing figureures with the help of total debtors and total creditors, total bills receivable and total bills payable accounts and summary of cash.In such a situation, trading account has to be prepared to ascertain the results of such incidental activity.As stated above, the cost actually paid for an asset can be verified from the documents but it is very difficult to ascertain the market value of an asset until it is actually sold.Thus, another objective of accounting is to ascertain the profit earned or loss sustained by a business during an accounting period which can be easily workout with help of record of incomes and expenses relating to the business by preparing a profit or loss account for the period.This is to ascertain the amounts of: (a) subscriptions due but not yet received: (b) incomes received in advance; (c) sale of fixed assets made during the year; (d) items to be capitalised (i.e. taken directly to the Balance Sheet) e.g. legacies, interest on specific fund investment and so on.

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