Income Statement Alternative Names

Balance sheet accounts are called real accounts another word for dividend is a bonus.

Income statement alternative names. Another name for an income statement is the profit and loss p l statement. Which of the following statements about the income statement is most correct. In the 500 years since the codification of the double entry bookkeeping and accounting system the names of its components have changed many times with different names being used by different accounting standards throughout the world. A dividend is a bonus.

What are two alternative names for income statement accounts and dividends. Have access to all of tmf s online and email products for free and be paid for your contributions to tmf. The key variations on the income statement are as follows. See full answer below.

There are several types of income statement formats available which can be used to present this information in different ways. As far as. It reports the financial status of an organization as of a single point in time. Winner of the washingtonian great places to work and glassdoor 1 company to work for 2015.

Click the link and start your fool career. Alternative names on financial statements sometimes an income statement is a profit and loss statement. It has several alternative names including the statement of liabilities. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non operating activities this statement is one of three statements used in both corporate finance including financial modeling and accounting.

Income statement accounts are also called nominal accounts. It reports the economic profitability of an organization.