Ch. Kishor Kumar
Certain accounting conventions and principles are used to prepare the financial statements. Accounting is a dynamic science, and accountants have developed a number of conventions based on their experiences over time. Despite the fact that a number of accounting conventions and assumptions have been proposed, their application is influenced by the personal judgement of accountants. Because financial statements are subjective documents, they are influenced by accountants' personal judgement. The Banking should increase both its sales volume and its gross profit. Despite price decreases in various products, the banking namely SBI has been able to maintain and grow its market share, resulting in strong margins in the market and contributing to the Bank's strong financial position.A financial statement is a formal record of a Banking's, person's, or other entity's financial activities. Relevant financial information is presented in a structured and easy-to-understand format. They usually include basic financial statements, as well as a management discussion and analysis and a statement of revenue and expenses, or a profit and loss report, provides information about a bank's income, expenses, and profit over time.
Income statement, Financial statements, Accounting principles.