Sales Income Statement in Accounting

What is sales income statement When you purchase an item and sell it then usually you should earn money. All shop should earn money from selling items and report of this money will call sales income statement.  some other term like invoice income, selling income, … maybe you listen but official name of this type […]

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Income Statement Concepts

Extraordinary Items: There have existed over the years differences with respect to the income statement regarding the proper presentation of extraordinary items as well as adjustments and corrections from prior periods. Two procedures are now considered acceptable alternative treatments: Current Operating performance Concept. Extraordinary items are omitted from the income statement and are closed directly to the statement […]

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