Adjunct Account.

An adjunct account is a financial statement that provides supplementary information about a company's financial position, performance, or cash flows. Adjunct accounts are typically presented alongside the company's primary financial statements, such as the balance sheet, income statement, and statement of cash flows.

Adjunct accounts can provide insights into a company's overall financial health and performance that might not be immediately apparent from the primary financial statements. For example, an adjunct account might show the impact of a major new contract on the company's future cash flows, or it might provide information about the company's exposure to risk.

Adjunct accounts are not required by generally accepted accounting principles (GAAP), but they can be useful for investors, creditors, and other users of financial statements.

What is adjunct liability?

Adjunct liability is the legal responsibility of a person or organization that is not directly involved in a wrongful act, but is considered to be indirectly responsible for the damages caused by the act. This type of liability is typically based on the theory of vicarious liability, which holds that a person or organization can be held liable for the actions of another person or organization that they are responsible for, even if they did not directly participate in the wrongful act. What are the two side of an account called? The two sides of an account are called the debit side and the credit side. The debit side is the left side of the account and the credit side is the right side of the account. How do I record contra entry? To record a contra entry, you will need to debit the account that you are trying to decrease, and credit the account that you are trying to increase.

What are liabilities List 3 examples?

A liability is a financial obligation of a business, meaning it is an amount of money that the business owes to another party. There are many different types of liabilities, but some common examples include accounts payable, accrued expenses, and loans payable.

Where does share premium comes in balance sheet?

Share premium is the amount of money that shareholders pay for their shares, above and beyond the par value of the shares.

In the balance sheet, share premium is reported as part of the equity section. It is often listed under the heading "contributed capital" or "share capital".