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What is an internal plan for expenses and income over a set period of time?
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What is grossing?
A layman's take: A simple way to think of it is that "gross" income is the total amount of money a product takes in, period. It doesn't take into account any related costs or expenses. Movie studios, record companies and game makers in particular love to point out what a title is "grossing" for promotional purposes. It sounds a whole lot better to say, "The (film/album/game) is grossing over $15 million a week in sales" (assuming that's an accurate statement), than to say, "Unless sales double starting this week, this turkey will never cover its expenses" (which could be an equally accurate statement!).
What happened to Buddhism in India?
Buddhism disappered from India over a period of 800 years
What music was popular in 1900?
The year 1900 was the change over from the romantic period to the modern period.
What is the average annual income for Alaska?
According to the US Census Bureau, the average annual income for households in Alaska was $67,332 in May 2008. This is over the national average of $52,029.
What is the Gosselin's annual income?
Kate Gosselin's income is not public information. Some sources have speculated that her annual income is $3.5 million. Ms. Gosselin, on the other hand, is quick to point out her concerns over money and employment as a regular feature on her Twitter feed.
What is the income statement?
The Income Statement is an accounting of income and expenses that indicates a firm's net profit or loss over a certain period of time, usually quarterly or yearly - a statement of operating expenses & revenue for a specific accounting period.
What is the difference amount of expense over income called when income exceeds expense?
Expenses more than income is called "Loss" Income over expenses called "Profit"
Is operating expense on the balance sheet?
No. Revenues and Expenses over a given period of time are shown exclusively on the Income Statement.
When are prepaid expenses are reported on the income statement as expenses?
Prepaid expenses do not go on the income statement as they are classified as assets. They are amortized over the time period being paid for.Example: If you prepaid $600 dollars for 6 months rent. Then $100 dollars would be expensed each month and the remaining amount is reported on the the balance sheet.
What is and advantage of the matching concept?
By matching your income with the expenses of a given period.. you do not over-state nor under-state the value of the business thus giving you the "true" profit ofthe business. By matching your income with the expenses of a given period.. you do not over-state nor under-state the value of the business thus giving you the "true" profit ofthe business.
The income statement is the major device for measuring the profitability of a firm over a period of time?
The income statement is in fact the major device used for measuring the profitability of a firm over time. Unlike the balance sheet that just shows the firms net worth an income statement shows both the revenue and expenses over a time period.
What are the financial statements used for?
It shows the income of one company as well as the expense incurred under the production,selling and administration department. it can be seen/determine here in the income statement if the expenses is greater than the sales. And therefore, if it does there is net loss.
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.
How do you treate preliminary expenses?
Preliminary expenses are those expenses which incurred before start of actual operations so these are assets of business and shown in asset side of balance sheet as other assets and then amortized over period of time through income statement.
How Budgets are made?
Budgets are made by looking at the income and the expenses of an individual or entity. They state how the money will distributed over the expenses.
Where on balance sheet is Research and development?
As per income tas act, R & D expenses shall be written of over a period of time. Every year portion of expenses is writtern off as it is classifed in operating expenses of the year. Unwritten off portion of R & D Expenses shall be classified under intangible assets.
What is the difference between net income and net profit?
Profit is seen when expenses from the revenue are taken out, while income is seen when all expenses incurred by a business are subtracted. Profit refers to the difference between how much money is spent and earned in a given time period, while income represents the actual amount of money earned in a given time period. INUKA Fragrances
