Subject: Industrial Engineering And Management

Topic: Cost Accounting and Financial Management

Difficulty: Medium

Write a short note on:

a. Financial statements.

b. Elements of cost

c. Accounting Rate of Return Method

d. Techniques for adjusting time value of money

e. Balance sheet

Financial statement:

Financial statements (or financial report) are a formal record of the financial activities and position of a business, person, or other entity.

Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management …