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The final figure on the income statement which shows the net income after taxes is better known as the?
Wiki User
∙ 13y ago
bottom line
Wiki User
∙ 13y ago
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Payments for 1 child with your income of 56000 yr?
The judge would have come to a figure , at the final divorce agreement.
The Statement of Owners Equity should be prepared before the income statement and after the balance sheet?
NO; The Balance Sheet is prepare after the statement of owners Equity and income statement. The balance sheet used this other two statements. The Income statment needs to be preapred before Owners Equity because the earnings will affect old the others poperation. These statements are both wrong. From what it says in my Financial Accounting book right in front of me, the income statement is prepared first, not the statement of owners equity. In the statement of owners equity, or the statement of retained earnings, net income, calculated from the income statement, is needed to be added to the beginning retained earnings to get the ending retained earnings. Dividends can also then be subtracted from that number to arrive at the final balance of retained earnings for that period. This ending balance is then presented on the balance sheet under Total Stockholder's Equity as Retained Earnings.
Income and expenditure account?
It is a financial statement and a part of the final accounts of a business.It is also known as the profit and loss statement/account and,,under the new IAS,is known as the statement of comprehensive income.It mainly serves to deduce the profit/(loss) for the year i-e the income minus all the expenses and costs.
Why final accounts prepared?
The final account is prepared at the end of each year. It is the combination of the income statement and the balance sheet. The final accounting shows a business where is stands financially and can be compared to past years to see if business and profits are up or down.
What does the idiom the bottom of the line mean?
"The bottom line" is an idiom that means the final result and comes from the line in a financial statement that shows net income or loss.
What is final accountant?
Finalization of accounts is to prepare financial reports along with comparision and brefing of company's financial reports include (Income Statement, Cash flows, Balance Sheet, Statement Chages in Equity, Policies and disclousers) .
How are the provisions for doubtful debts treated in the final accounts?
The debts are treated as expenses in the profit and loss account, being entered on the debit side of the income statement coloums.
What is the explanation for the liquidator's final statement of accounts?
The liquidator's final statement of account is the account of winding up.
What financial statement primarily focuses on profitability?
The statement of comprehensive income, or the profit and loss account. Sometimes it's called the income statement. But they all mean the same thing - they show revenues minus expenses, giving a final net profit. And usually you will see last year's figures as well, enabling you to compare how well a business has done since last year.
Is wrong a final statement?
no
What is the difference between final account and financial statement?
Financial Statement: Financial statement is a instrument used to present a companies financial position. Financial statement complies with balance sheet, cash flow and funds flow statements. Final accounts is the final stage of preparation of financial statement
Do you believe that venzetti was telling the truth in his final statement Give reasons for your answer?
No. I do not believe that venzetti was telling the truth in his final statement.
