Trending Profit & Loss Management Discussions

Loss on disposal would be highest if the asset is depreciated using following method :‎

a. Declining Balance Method. b. Sum of the Years' Digit Method. c. Straight Line Method d. Does not matter which method is used.‎

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Why income statement is important? ‎

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Who is getting benefit ? Owner (or) Contractor (or) Employee‎

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How to run a business while operating at a loss?‎

Big companies and startups alike sometimes operate at a loss. Both YouTube and Tesla for example have been operating at a net loss for years. What are some of the key tip‎ ... See More

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Answer added by  Manelle San Juan, Accounting Staff, Century Pacific Food, Inc
7 years ago

While profit and gain will contribute to the income of the company, profit arises from the normal course or operation of the company while gain are only incidental or per ... See More

 

Answer added by  VENKITARAMAN KRISHNA MOORTHY VRINDAVAN, Project Execution Manager & Accounts Manager, ALI INTERNATIONAL TRADING EST.
9 years ago

Following any type of Depreciation Method, the Difference between the purchase purchase and depreciated price need be considered as "Notional Loss" for accounti ... See More

 

Answer added by  FITAH MOHAMED, Financial Manager, FUEL AND ENERGY CO for transportion petroleum materials
9 years ago

b. Sum of the Years' Digit Method.  

 

Answer added by  Frank Mwansa, ACCOUNTING LECTURER, FREELANCER
7 years ago

Unlike  a balance sheet, which communicates information about a point in time, the income statement relate to a period of time.The income statement summaries certain tran ... See More

 

Answer added by  Deleted user
7 years ago

Income Statement is important to quantify the return of your Investment/Capital. It is one of the best Report to give you a clear picture to continue or ceased the Operat ... See More

 

Answer added by  mohamed Hakim CMA CPA Candidate, Accounting Manager, Andersen saudi arabia
7 years ago

Agree with the answers    good answers