Subject matter of public finance:
The subdivisions below form the subject matter of public finance:
A. Public expenditure
B. Public Revenue
C. Public debt
D. Financial administration and
E. Federal finance
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Financial reporting has been about for many hundreds of years. It appears to have come out like a result of one or more persons having custody and management of assets that belonging to one or more others.
Companies are legally obliged to differentiate, on the statement of financial position, among that part of the equity of shareholders which may be withdrawn and that part that may not.
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