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Why does the user of an income statement need to know the time period that it covered?
Wiki User
∙ 9y ago
This is so they can check the statement and make sure their pay was correct. They can then call HR and have it fixed if they need to.
Wiki User
∙ 9y ago
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Difference between Income statement and Profit and loss account?
Income statement shows only income of the concern in a particular period but Profit and loss statement shows both income and expenditure of a firm or concern for a particular period as well as it helps to know the performance of the organisation....
Why does the user of an income statement need to know the time period that it covers?
This is so they can check the statement and make sure their pay was correct. They can then call HR and have it fixed if they need to.
What comes first in the four financial statements?
its the income statement don't know why???
Why an income statement prepared?
An income statement let's the management of the company know how well or how poorly the company performed over the year. The balance sheet is a snapshot at the end of the year that show's how much the company has in assets, liabilities, and in equity.
What is covered under state farm's hospital income policy?
I don't know. When you find out can you let the rest of us know?
How much money did Shakespeare make annually?
Unfortunately we do not have his income tax return (they didn't have income tax then) or a financial statement from an accountant so we don't know.
What statement describes the French Revolutionary period?
i don't even know
If your income is 245600 per month how much would your income be per weekly pay period?
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period.
What is a statement of income?
Income statement can help the manager of the to know whether their company in a good condition or not and the income statement also show the net income of the company. The company should use efficiently because it will generate the sales for the company. In the financial statement, there will include all the source of finance that use by the company such as sales, interest expenses and others. If the manager know about the information of the sources of finance that use by the company, it can help them to make the decision whether the company should to make the further investment. If the company are efficient to use all the sources of finance, they can make for the new investment of the company. so, this financial statement help the company to make the decision by giving the information of the revenue and expenses of the company.
How does net income effect the balance sheet?
Take your gross income (revenues) over the period in question, usually one year, and then subtract all the expenses you had in order to earn that income. This will bring you down to a net income...on the income statement. There is no net income on the balance sheet per se. You net income from the income statement hits the balance sheet when you close out the books for the year. Then it moves over to the retained earnings segment in the balance sheet.
What is your conclusion in financial statement?
the financial statement helps one to know the difference between income or gains and expenses or losses in p and l A/C.and the balance sheet to compare with the last years profits.
Are the profits for selling covered calls in a taxable brokerage account considered earned income?
Not unless you are a professional trader. If you are a professional trader, you would know it.
