Why Accountants have to or must prepare INCOME STATMENT in
two stages Gross Profit And Net Profit
- 2 Answers
- 4147 Views
- I also Faced
- E-Mail Answers
Answer Posted / sankeerthana
To know axactly the result of the venture we had undertaken
we prepare Trading account to know the gross result. With
that we can know the result and can take adecission whether
to continue the venture or not and also to take such steps
to improve the afforts to reach the targeted result if it
is not showing the expected one.With the profit an loss
account we can know the exact net result after meeting all
the relevant expenditure
sankeerthana
www.therealaccountants.com
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
what is bank aceleted?
Apportionment of expenses
What do u mean by press releases
For example for formation of a new company/offshore company you need to show paid up capital of 100K but you don't have 100K you as a director borrow loan of 100K from 3rd party and deposit in the bank as paid up capital and issued shares of 100K in director name. After one week you return back 3rd part loan. What are the entries in the books?
What was the most difficult deal you had to close?
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
What is the difference in accounting and marketing and what is so different about them?
get fixed assets items
how much cash transaction to single transport company per day and also per year
During execution of Works Contract,If Contractee(Customer) supply goods to contractor, then it should be shown in Invoice as deduction or no need to show in Invoice.
What is journalizing?
lic (life insurance corporation)how much he or she as to deduct income tax on his gross annual salary. please give with examples
Tell me what is trial balance in accounting?
Tell us what do you believe should be an important quality of an account executive?
what is faviourable balance,and overdraf balance in Brs? Give me sms on this no. 9885789716
