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The purpose of other deductions on a financial statement is to account for expenses or losses that do not fall under specific categories like operating expenses or taxes. These deductions help provide a more accurate representation of a company's financial health by accounting for all relevant costs and losses.
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What is the difference between an earnings statement and a pay stub?
An earnings statement provides a summary of an individual's total earnings and deductions over a specific period, typically for tax or financial purposes. A pay stub, on the other hand, is a detailed document that shows an employee's specific earnings for a specific pay period, including deductions and taxes withheld.
What is the difference between an earning statement and a pay stub?
An earning statement provides a summary of an individual's total earnings over a specific period, including wages, bonuses, and deductions. A pay stub, on the other hand, is a detailed document that shows the breakdown of each paycheck, including taxes, deductions, and net pay.
What is the difference between a pay stub and a pay statement?
A pay stub is a document that shows details of an employee's pay, such as earnings, deductions, and net pay for a specific pay period. A pay statement is a broader term that includes the pay stub but may also include additional information about taxes, benefits, and other financial details related to an employee's compensation.
What is considred to be a personal finance statement?
A financial statement (or financial report) is a formal record of the financial activities of a business, person, or other entity. In British English-including United Kingdom company law-a financial statement is often referred to as an account, although the term financial statement is also used, particularly by accountants. For a business enterprise, all the relevant financial information, presented in a structured manner and in a form easy to understand, are called the financial statements. They typically include four basic financial statements, accompanied by a management discussion and analysis.
Importance of cash flow statements?
Cash flow satement is an important financial statement as it tells about the cash inflows and outflows from different business activities and this information is not available in any other financial statement.
Define the purpose of accounting and identify the four basic financial statements?
The purpose of accounting is provide information to the users like investors ,financial institutions and to other clients. The four basic financial statements are balance sheet,income statement,cash flow,statement of retained earning.
What is a payroll withholding statement?
The summary statement attached to a paycheck that summarizes income, tax withholdings, and other deductions.
What is the difference between an earnings statement and a pay stub?
An earnings statement provides a summary of an individual's total earnings and deductions over a specific period, typically for tax or financial purposes. A pay stub, on the other hand, is a detailed document that shows an employee's specific earnings for a specific pay period, including deductions and taxes withheld.
Is a balance sheet the same as a financial statement?
Balance sheet is a type of financial statement. Other types of financial statements could be income statement and statement of cash flow.
What is the purpose of a financial statement analysis?
The goal in analyzing financial statements is to assess a company's past performance, current financial position; and to make predictions about the company's future performance. This directly relates to stocks, bonds, and other financial instruments.
What ratio or other financial statement analysis technique will you adopt for analysis of liquidity of a firm?
What ratio or other financial statement analysis technique will you adopt for this.
What are the two major financial statement?
They are the Income Statement also known as Profit and Loss and the other one is the Statement of Financial Position also known as Balance Sheet.
What are the different accounting reports?
The main four are; statement of financial position, income statement, cash flow statement and statement of changes in equity.
What is the difference between IPSAS format and other formats of presentation of financial reports?
The IPSAS formats are the required schedules under the International Public Sector Accounting Standards. These include: Statement of Financial Position Statement of Financial Performance Cash Flow Statement Statement of Changes in Equity
What is the other name of balance sheet?
"Statement of financial position" is the other name of balance sheet.
Describe the diffferences between financial statement income and taxable income?
There is some difference in financial statement income as well as taxable income as in financial statement income there are items which are not allowed by tax authorities and main item is depreciation. Other factors are that tax is deducted on income which is received while in financial statement income included revenue which is not received or accrual items that needs to be adjusted as well that's why financial statement income and taxable income is not same.
What is the difference between an earning statement and a pay stub?
An earning statement provides a summary of an individual's total earnings over a specific period, including wages, bonuses, and deductions. A pay stub, on the other hand, is a detailed document that shows the breakdown of each paycheck, including taxes, deductions, and net pay.
