0
Are balance sheets ordinarily projected after income statements?
Wiki User
∙ 10y ago
Balance sheets are ordinarily projected after income statements because the firm's growth in retained earnings, an outcome of projected income, is a required input for the balance sheet.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Income tax in projected statements?
Technically, for full GAAP projected statements, it should be. Although you can very easily omit the tax disclosure from the statements as long as it is included to some extent in the footnotes, or mentioned in the compilation report.
Net income appears on what statements?
It appears at: Income statement Balance sheet
Projected balance sheet assumption?
two underlying assumptions you make when preparing the Income Statement and Balance Sheet
What the income statement and balance sheet jointly known as?
Financial Statements
Is a prepaid expense on the balance sheet or the income statements?
A prepaid expense is an asset listed on the balance sheet.
Do accounts receivable appear on an income statements?
No, A/R is a balance sheet account.
Is it important to consider income taxes in preparing projected statements Why or why not?
It helps determine your profit margin. It is also a method used to determine the projected financial profit at a given period of time. Investment can only be determined if the income tax is favorable.
How does ap department appear on company financial statements?
balance sheet and income statment
Pro-forma balance sheet?
Proforma: Description of financial statements that have one or more assumptions or hypothetical conditions built into the data. Often used with balance sheets and income statements. Example: Provided to show rent or income projections (typically it is the NOI - Net Operating income - that is looked at in this application) upon acquisition of Commercial Real Estate or a Business, so as to justify the obtaining of financing for the purchase - Used to demonstrate the Borrower's ability to repay the loan based on income projections taking into account Mortgage or loan terms, and actual or projected income based on reasonable and qualified assumptions.
What is the linkage between income statements and balance sheet?
Income statement and balance sheet are linked in this way that income statement describes how assets and liabilities are utilized to earn revenue and net income while balance sheet describes the information about remianing amount of assets and liabilities.
What items are found on the income statements?
mostly what you spent on your previous shoping spree and you checking balance
What is a projected income statement?
projected income statement is the estimated income statement to estimate the future business position.
