Classifying by function-income statement, Financial Accounting

Assignment Help:

By classifying by function

Under this format, the expenses of the company are classified into 5 major categories i.e.

  1. Cost of sales [(opening stock + purchases – closing stock) and deprecation]
  2. Distribution costs (transport costs, selling expenses, commission, provision for bad debts etc)
  3. Administration expenses (salaries and wages, telephone, rates, postage, rent etc, goodwill amortization)
  4. Other expenses (all other not falling under the above) groups of expenses)
  5. Finance cost (interest on loan and  bank overdraft, interest on finance lease, dividends on redeemable preference shares).

Related Discussions:- Classifying by function-income statement

Shareholders risk perception of the company''s activities, The existing com...

The existing company WACC replicates the company's current gearing level and its existing Ke and Kd and the Ke in turn reflects the shareholders' risk perception of the company's e

Calculate the return on sales and asset turnover, Calculate the Return on S...

Calculate the Return on Sales and Asset Turnover 1. Complete a trend analysis for the items below for the last three years using the earliest year as the base year. Cash

FASB and IASB - Revenue recognition, Q1. what are the roles and objective o...

Q1. what are the roles and objective of FASB and IASB? Q2.what are the main reason for the joint project undertaken by the FASB and IASB? Q3.state some critics by individual and th

Adjustment entry, 1) A sales discount correctly taken by the charge custome...

1) A sales discount correctly taken by the charge customer was debited to Sales at the time the entry was recorded. This error will cause. A) the net income for the period to be un

Completed executions-bankruptcy, Completed executions A judgement credi...

Completed executions A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it- Before the date of the receiving order,

Comparative income satement in good form, Ask questihow to make comparative...

Ask questihow to make comparative income statement in good formon #Minimum 100 words accepted#

Presentations of financial statements, Presentations of Financial Statement...

Presentations of Financial Statements The objective is to give guidance regarding the preparation of published financial statements and prescribe the content of the published fin

Financial institution, Financial Institution - Organization engaged in any ...

Financial Institution - Organization engaged in any of the many aspects of finance involving thrift institutions, commercial banks, securities brokers, investment banks and dealers

Determine the npv and annual savings, Joe has two children, Sydney age 5 a...

Joe has two children, Sydney age 5 and William age 2, that he wants to provide for their education funding.  Currently, tuition is $10,000 per year and tuition inflation is 6%.  Jo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd