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What is the difference between a cash budget and an income statement?
Wiki User
∙ 10y ago
Income Statement is a financial statement which shows all the income and expenses of company, while cash statement shows the receipts and payments of company.
In cash based accounting system cash statement is also work as a income statement as everything is dealt on cash bases but in accrual accounting tracking of receipts and payments and income and expense is a separate tasks.
Wiki User
∙ 10y ago
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What is the difference between profit and loss account and budget?
Budget is pre-facto and P&L is post-facto. Budget can be defined as projected Income/P&L statement.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
What is the difference between a P and L Statement and an Income Statement?
They are the same thing. "P and L Statement" is an older less-commonly used term for an "Income Statement."
Difference between marchindising income statement and manufacturing income statement?
Both statements are difference in this way that in merchandising income statement there is only one purchases items while in manufacturing income statement there is complete manufacturing account is also prepared to show manufacturing process as well.
Is revenue part of an income statement?
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
What is the difference between profit and loss account and budget?
Budget is pre-facto and P&L is post-facto. Budget can be defined as projected Income/P&L statement.
What is the difference between state income tax and federal income tax?
State goes to state budget & Federal goes to ferderal budget.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
What is the difference between a P and L Statement and an Income Statement?
They are the same thing. "P and L Statement" is an older less-commonly used term for an "Income Statement."
Difference between marchindising income statement and manufacturing income statement?
Both statements are difference in this way that in merchandising income statement there is only one purchases items while in manufacturing income statement there is complete manufacturing account is also prepared to show manufacturing process as well.
Is revenue part of an income statement?
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
What budgets are prepared before the sale budget is it the budget income statement or the direct labor budget?
NONE
Difference between cash flow statement and income statement?
cash flow statement only shows cash transactions while income statement shows incomes and expenses for specific fiscal year.
The difference between an income statement and cash flow statement?
Income statement shows the income or expenses related to one fiscal year while cash flow statement shows the cash inflows and outflows from different areas of business.
What is the difference between Cash flow statement and income statement?
Cash flow shows the flow of cash in and out of a business while Income statement is a summarized statement showing the profit or loss made during a period.
What is a budget income statement?
A budget income statement can be prepared from the data developed in:Sales budgetEnding finished goods inventory budgetSelling and administrative budgetCash budgetThe budgeted income statement is one of the key schedules in the budget process. It shows the company's planned profit for the upcoming budget period, and it stands as a benchmark against which subsequent company performance can be measured.
Does net income on balance sheet come from income statement?
Yes income in balance sheet is the same amount which is calculated in income statement if there is any difference then it may be due to distribution of net income between retained earnings and dividend.
