Maharashtra State BoardHSC Arts 12th Board Exam
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Answer the Following in Brief : - Book Keeping and Accountancy

Answer in Brief

Answer the following in brief :
What do you mean by analysis of financial statements?

 
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Solution

It is a process by which financial statements, i.e. Balance Sheet and Income Statement, are analysed to study the business results and the efficiency of the business operations. Also, it helps in the comparison of profitability and financial position of the business over the years or with different firms. Such analysis also facilitates decision-making.

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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 12 Analysis of Financial Statements
Exercise | Q 1 | Page 385
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