Where does increase in accounts payable go on cash flow statement?
Accounts payables are increases, this is considered a cash inflow because the company has more cash to keep in its business. This is then added to net inc...
Category: Updates
How many years of books should I keep my income tax?
6 years For how long the books need to be maintained under section 44AA Of the Income Tax Act, 1961? As per the relevant provisions, you must maintain the...
Is net income the same as cost of goods sold?
COGS is how much it costs you to make a product or perform a service. Gross income is how much money your business has after deducting the cost of goods s...
What is the excess of revenue over expenses?
Net income Net income is the excess of revenues over expenses. This measurement is one of the key indicators of company profitability, along with gross ma...
What are considered as deductions from gross sales?
Gross sales is your total sales before numerous categories of expenses are deducted, such as returned items, taxes, license and business fees, rent, utili...
What is the difference between variable cost and fixed cost explain with example?
Fixed Cost is definite; it will incur even when there is no units are produced. On the other hand, variable cost remains constant in per unit. Examples of...
Why do managers require contribution approach income statement?
The contribution approach is an important one used during costing, because it can help managers figure out how much the company must sell in order to exce...
What is the relationship between Auditing and Investigation?
Auditing verifies the true and fair view of the financial statement while Investigation is performed to establish a fact. the appointment of an auditor is...
What are the contents of balance sheet in tally?
In Tally, the Balance Sheet is made of Fixed Assets, Current Assets, Current Liabilities and Capital & Reserves. You can run the Balance Sheet in Tall...
Is issuing bonds an investing activity?
Both cash inflows and outflows from creditors and investors are considered financing activities. Some examples of cash flows from financing activities are...
