Customer Service Chat
Get quote & make Payment
Income Statements Assignment Help, Operating Statements, Accounting Help
Accounting Assignment Help
>> Income Statements Assignment Help, Operating Statements
Live Accounting Experts: Income Statements Accounting Assignment Help, Operating Statements
offer income statements accounting solutions, income statement assignment help, operating system homework help and income statement accounting projects assistance with live online accounting expert’s assistance. We have instant
who can assist you for your urgent income statements related problems; they provide step by step answers for income statement related
Income statement shows the result of operating for a period of time. It is usually called operating statement (OS) or the statement of operations. It shows how well the organization is performing its operations.
The terms revenue expenses and profit should be somewhat familiar. Revenue is the inflow of assets and return for the services perform and product delivered during the period and an expense is the cost incurred to generate revenue. Net profit is simply the amount by which the revenue of a particular period of time exceeds the expenses incurred to generate them.
Expenses are also recognized in the period that is benefitted regardless of when the payment is made in cash. E.g. salaries earned by employees are considered an expense for the period in which the employee works even though they may not be paid until the following period.
Thus the income statement is a statement in which revenue for the periods of time are matched with the expenses for the same period of time. If the revenue exceeds the expenses result is a net income and if vice versa it will be a net loss.
Suppose during the month of January, a trader has a total sales of rupees 55,000 and had incurred total expenses of 46,000. His net income will be 9,000 for the month of January.
The format of the income statement varies with the need of users’ preferences of accountants and other circumstances. The format of the common income statement is:
Sales – cost of goods sold = gross profit- operating expenses = net operating income – less other expenses = net income.
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.