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EXCESS OF REVENUE OVER EXPENSES
EXCESS OF REVENUE OVER EXPENSES in the not-for-profit sector. There is a common misconception that not-for-profit organizations are not allowed to have a financial cushion as they are 'not-for-profit'. In this context it is useful to remember that not-for-profit organizations are also 'not-for-loss' organizations. An organization cannot sustain losses over the long term without ceasing to operate or going bankrupt. Excess of revenue over expenses is the planned financial position that there will always be a sufficient amount of funds on hand to continue to run the not-for-profit entity for some period without additional funding; usually 3-4 months.
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the excess of revenue over the expenses incurred in earning the revenue is called capital?
False
Expenses incurred while earning revenue should be reported in the same period that the income is reported?
matching principle
How is a gross margin calculated?
the excess of the net sales revenue over the cost of goods sold.
What is the difference between unbilled receivables and cost in excess of billings?
Unbilled receivables represent costs in excess of billings on incomplete contracts and, where applicable, accrued profit related to government long-term contracts on which revenue has been recognized, but for which the customer has not yet been billed.
According to the United States internal revenue code can passive activity losses be carried back to prior years when the taxpayer had passive activity income?
After 1990, passive losses in excess of passive gains are not deductible ad must be carried forward. Internal Revenue Code Sec. 469(m)(2)
the excess of revenue over the expenses incurred in earning the revenue is called capital?
False
What is life assurance fund?
It is the excess revenue income over revenue expenditure for an insurance company.
What is net Interest?
Net Interest refers to the revenue that is got from the difference between cost of servicing liabilities and the revenue generated by assets that bear interest. This considered to be an excess revenue.
Expenses incurred while earning revenue should be reported in the same period that the income is reported?
matching principle
How is a gross margin calculated?
the excess of the net sales revenue over the cost of goods sold.
What is the term applied to the excess of net revenue from sales over the cost of merchandise sold?
Gross Profit
What is the Difference between fiscal deficit and revenue surplus?
Budget for a fiscal year is a statement of revenue and expenditure of the government for the particular year. If the expenditure is more than the revenue for a particular year, then this difference is called the fiscal deficit. If the revenue is more than the expenditure for a particular year then this difference is called the excess revenue.
What is the cost in excess of billing in long term construction contracts?
Cost in Excess of Billing is an Asset Account that means the contract is under-billed. Actual billings are less than Revenue Earned.
What is a profit of 12 dollars?
An excess of total revenue over total costs amounting to 12 dollars.
How much does talk radio host John Oakley makes?
I have a friend at Revenue Canada and he has impersonal income and corporation income.. I can't disclosure but in excess of $300,000
What is the difference between unbilled receivables and cost in excess of billings?
Unbilled receivables represent costs in excess of billings on incomplete contracts and, where applicable, accrued profit related to government long-term contracts on which revenue has been recognized, but for which the customer has not yet been billed.
Definition of incremental revenue?
Incremental Revenue is the increase of revenue between a new revenue and a previous revenue, thus the formula: Incremental Revenue = New Revenue - Previous Revenue
