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The sections of an income statement are?
*Heading *Revenue *Expenses *Net income
Does investment revenue go on balance sheet or income statement?
consulting revenue will go to income statement in case if the firms main business is consultancy then sales otherwise will go under other income.
Describe the diffferences between financial statement income and taxable income?
There is some difference in financial statement income as well as taxable income as in financial statement income there are items which are not allowed by tax authorities and main item is depreciation. Other factors are that tax is deducted on income which is received while in financial statement income included revenue which is not received or accrual items that needs to be adjusted as well that's why financial statement income and taxable income is not same.
What is income expenditure?
A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.
What are the different accounting reports?
The main four are; statement of financial position, income statement, cash flow statement and statement of changes in equity.
How do you do Income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
How many main sections does an essay have?
An essay typically has three main sections: introduction, body, and conclusion. The introduction sets up the topic and thesis statement, the body provides supporting arguments or evidence, and the conclusion summarizes the main points and leaves a lasting impression on the reader.
How do you prepare comparative income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
What are the two categories of the income statement?
Following are two catagories of income statement: 1- Single Step Income statement 2- Multy-step income statement
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is a projected income statement?
projected income statement is the estimated income statement to estimate the future business position.
Which financial statement summarises income and expenditure?
income statement
