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Is director's remuneration an expenses in income statement?
Directors remuneration is part of income statement and also expense of business but required to be shown as separate item.
Tax planning in respect of managerial remuneration?
corporate assesses are required to pay utmost attention while framing the remuneration policy for their personnel. it requires the full knowledge of income tax laws and other allied economic and corporate laws like the companies act in regard to allowability and taxation of salary income of executives and directors, etc.
What is accounting entry for directors fees?
The accounting entry for directors' fees typically involves recording an expense and a liability. When the fees are incurred, you would debit the Directors' Fees Expense account and credit the Accrued Liabilities or Accounts Payable account. This reflects the expense recognized in the income statement while acknowledging the obligation to pay the directors. Upon payment, you would then debit the Accrued Liabilities or Accounts Payable and credit Cash or Bank.
Is purchases an income or an expense?
it is neither an expense nor an income
What is the difference in percentage of income versus percentage of expense?
Income = expense + savings&investments Income = expense + savings&investments
Is director's remuneration an expenses in income statement?
Directors remuneration is part of income statement and also expense of business but required to be shown as separate item.
Is director remuneration is income or expense?
Its an expense
Tax planning in respect of managerial remuneration?
corporate assesses are required to pay utmost attention while framing the remuneration policy for their personnel. it requires the full knowledge of income tax laws and other allied economic and corporate laws like the companies act in regard to allowability and taxation of salary income of executives and directors, etc.
What is accounting entry for directors fees?
The accounting entry for directors' fees typically involves recording an expense and a liability. When the fees are incurred, you would debit the Directors' Fees Expense account and credit the Accrued Liabilities or Accounts Payable account. This reflects the expense recognized in the income statement while acknowledging the obligation to pay the directors. Upon payment, you would then debit the Accrued Liabilities or Accounts Payable and credit Cash or Bank.
Does a US-domiciled company listed on AIM LSEwhich comprises directors' report directors' remuneration report corporate governance and statement of directors' responsibilities?
no they dont
Why is it necessary for for directors remuneration and bonuses to be disclosed in financial statements?
According to King Code III chapter 2 paragraph 180 requires that companies should disclose the remuneration of each individual directors and certain senior executives
Is purchases an income or an expense?
it is neither an expense nor an income
What is the difference in percentage of income versus percentage of expense?
Income = expense + savings&investments Income = expense + savings&investments
Is purchase returns an expense or income?
it is neither an expense nor an income
Is interest on fixed deposit an expense or income?
To the depositor, it is an income but to the bank or institution providing the fixed deposit as a product, it is an expense.
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
What is a contra expense?
A reduction of an expense on the income statement.
