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Does bank expense goes at income statement?
No, bank expenses do not typically go on the income statement. Bank expenses are usually recorded on the bank's own financial statements as part of their operating expenses. The income statement of a bank would typically include items such as interest income, loan loss provisions, and non-interest income.
What kind of statement shows how changes and balance sheets and income accounts affect cash and cash equivalents?
A cash flow statement illustrates how changes in balance sheet accounts and income statement items impact cash and cash equivalents. It categorizes cash flows into operating, investing, and financing activities, detailing sources and uses of cash. By reconciling net income with changes in working capital and other non-cash items, it provides a clear picture of cash generation and usage over a specific period. This statement is essential for assessing a company's liquidity and financial health.
What is a cash flow statement?
A cash flow statement is a document that lists all the income and expenditures of a particular financial account. It can list written checks, deposited checks, and any kind of transaction.
Why kind of statement is also known as a profit or loss statement?
A profit or loss statement is also known as an income statement. This financial statement summarizes a company's revenues, costs, and expenses over a specific period, providing insight into its financial performance. It indicates whether the company has made a profit or incurred a loss during that period.
Why is unrealized gain and losses not included in net income?
Unrealized gains and losses are not cash involving transactions that's why while making cash flow from operating activities, net income is adjusted for these kind of non-cash items.
What kind of income tax is based on your taxable income?
Income tax IS based on your income that is why it is called INCOME tax.
What kind of statement is accepted without further justification?
What kind of statement is accepted without further justification?
Which one of the four financial statements is your favorite and why?
It depends on why you are using the financial statements. What do you want to know? How is the company using their cash? Look at the Statement of Cash Flows. Liquidity ratios, amount of debt, kinds of assets... look at the Balance Sheet. What are they selling, where do the revenues come from, what does the product cost or what other expenses do they have, what kind of profits do they have... look at the Income Statement. Ideally, all are important. Income is fine, but if it is all paper income (non-cash), there may be cash flow problems in the near future--thus the importance of looking at the cash flow statement. Income is great, but if liabilities are too high, the income may not be adequate to service the debt in the long term--thus the importance of looking at the balance sheet. Statement of changes in equity, of course, to see if there is anything significant other than income, or perhaps dividends.
Where are operating leases recorded in financial statements?
Operating lease is that kind of lease which is not done for entire useful life of assets and only lease rental are paid and expensed through income statement.
What kind of statement is this 'He was really acting strangely'?
Non-Descriptive statement.
What kind of in formation or items did he use for his theory?
What kind of information or items, did he use to support his theory
What is a statement credit?
What is a statement credit? It is a kind of reward, but I don't know how to use it.
