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AC1025A
Intro to accountig
Statement of financial position
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Created by
Ananya Totiger
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Cards (2)
What is the format of the Income statement :
sales
Cost
of
goods
sold
gross
profit
operating
expenses
rent,
electricity
other
SG
&
A
expense
operating
income
interest,
gains
and
losses
pre
tax
income
income
tax
expense
net
income
what accounting conventions are in the income statement?
accruals
matching
prudence