It belongs on the Income Statement.
Income Statement is a financial statement which shows all the income and expenses of company, while cash statement shows the receipts and payments of company. In cash based accounting system cash statement is also work as a income statement as everything is dealt on cash bases but in accrual accounting tracking of receipts and payments and income and expense is a separate tasks.
Accounts receivable is not reflected in the income statement but the balance sheet. Sales, both cash and credit is.
Income statement shows the income or expenses related to one fiscal year while cash flow statement shows the cash inflows and outflows from different areas of business.
cash flow statement only shows cash transactions while income statement shows incomes and expenses for specific fiscal year.
sales is not part of cash flow statement and sales is part of income statement.
income tax liability is not part of cash flow statement rather it is part of balance sheet.
It belongs on the Income Statement.
Yes in indirect method of cash flow statement , cash flow from operating activities is prepared by taking the current year income as starting point
No profit or loss from sale of fixed asset goes into income statement while the cash proceeds goes to cash book.
Income Statement is a financial statement which shows all the income and expenses of company, while cash statement shows the receipts and payments of company. In cash based accounting system cash statement is also work as a income statement as everything is dealt on cash bases but in accrual accounting tracking of receipts and payments and income and expense is a separate tasks.
taxes payment is part of cash flow statement and not part of income statement.
Accounts receivable is not reflected in the income statement but the balance sheet. Sales, both cash and credit is.
Income statement shows the income or expenses related to one fiscal year while cash flow statement shows the cash inflows and outflows from different areas of business.
cash flow statement only shows cash transactions while income statement shows incomes and expenses for specific fiscal year.
Cash flow shows the flow of cash in and out of a business while Income statement is a summarized statement showing the profit or loss made during a period.
Bank over draft is not part of income statement in accrual based accounting system as it is the cash inflow not any income or expense.