COMPOSITE FINANCIAL STATEMENT Definition

Bookmark and Share

COMPOSITE FINANCIAL STATEMENT is an average or index of financial statements of multiple accounting periods or companies, e.g., industry averages.

Learn new Accounting Terms

BUSINESS PLAN is a description of a business (normally over a 1-5 year period). A basic business plan includes: product(s) and/or service(s), the market, competitor analysis, the key people involved, financing needs, and the financial rewards if the business plan is implemented successfully. A well-prepared business plan plays two important roles, firstly, it is a useful management tool that can help management plot a course for the company, and secondly, it is a vital sales tool that will impress funding sources, e.g., venture capitalists or the board of directors, with managements planning ability and general competence. Other things being equal, a well prepared business plan will increase a companys chances of obtaining a financial commitment to fund the business.

PURCHASE RETURNS is a contra purchase account that records all credits from returned inventory purchases.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.