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Questions and Answers
What is a reserve in financial accounting?
What is a reserve in financial accounting?
A reserve in financial accounting is a credit balance that can refer to a part of shareholders' equity, a liability for estimated claims, or contra-asset for uncollectible accounts.
Where can a reserve appear in shareholders' equity?
Where can a reserve appear in shareholders' equity?
A reserve can appear in any part of shareholders' equity except for contributed or basic share capital.
What is an 'operating reserve' in nonprofit accounting?
What is an 'operating reserve' in nonprofit accounting?
An 'operating reserve' in nonprofit accounting refers to the unrestricted cash on hand available to sustain an organization.
What is the purpose of maintaining an operating reserve in nonprofit organizations?
What is the purpose of maintaining an operating reserve in nonprofit organizations?
What are the different types of reserves used in financial accounting?
What are the different types of reserves used in financial accounting?
What is the main objective of financial management?
What is the main objective of financial management?
Who do financial managers report to?
Who do financial managers report to?
What is the role of financial management in working capital management?
What is the role of financial management in working capital management?
What is the function of financial management in day-to-day operations?
What is the function of financial management in day-to-day operations?
What is the distinction between 'Staff' and 'Line' in financial management?
What is the distinction between 'Staff' and 'Line' in financial management?
