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Why is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
What presents the total revenues and expenses of a company for a given period?
Income Statement
Is a company earnings are the same as its revenue?
A company's earnings are equal to revenue less costs of production over a given period of time.
Why do wages appear in the trading profit and loss account?
Because they are Expenses and are supposed to be deducted so as to ascertain the real value of profits earned in a given period of time
Difference between gross income and income?
Income is a general term referring to one's financial gain, whether earned or unearned, received as wages, or for services, from the sale of goods or property, or as earnings on investments over a given period of time. Gross income is the total income earned from all sources (e.g. wages, property) in a given period before expenses or taxes are deducted. Net income is the income or profit remaining after taxes and expenses have been deducted.
Give 3 basic financial statements and define each?
Balance Sheet - Gives a snapshot of what a company owns and owes Income Statement - Shows how and from where a company has earned money (or assets in general) over a given time period Cash Flow - Shows the flow of cash (both in and out) over a given time period
Why is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
Is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
What presents the total revenues and expenses of a company for a given period?
Income Statement
Is a company earnings are the same as its revenue?
A company's earnings are equal to revenue less costs of production over a given period of time.
Can you have a summary of the Holocaust?
no, not really, any summary will give an inaccurate and misleading picture. A good example of this is the summary given on answers.com.
What does the statement of changes in retained earnings consist of?
The statement of changes in retained earnings, also known as the statement of earned surplus, is documentation that only details the changes in earned capital: the net income and the dividends for a given period.
Why do wages appear in the trading profit and loss account?
Because they are Expenses and are supposed to be deducted so as to ascertain the real value of profits earned in a given period of time
What is the name given to the permanent summary of all supporting journals?
The general ledger is the name given to the permanent summary of all supporting journals. This is a term used in accounting practices.
Why is freedom given to us?
Freedom is never given. It is won and earned.
What is the typical PERCENTAGE given to giftware sales reps?
The typical average percentage earned by giftware sales representatives is 15 percent. This can differ according to the giftware company.
Where can you buy the earned not given shirt?
Somewhere
