An income statement or profit and loss account (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues (money received from the sale of products and services before expenses are taken out, also known as the “top line”) are transformed into the net income (the result after all revenues and expenses have been accounted for, also known as “net profit” or the “bottom line”). The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.
One important thing to remember about an income statement is that it represents a period of time like the cash flow statement. This contrasts with the balance sheet, which represents a single moment in time.
Charitable organizations that are required to publish financial statements do not produce an income statement. Instead, they produce a similar statement that reflects funding sources compared against program expenses, administrative costs, and other operating commitments. This statement is commonly referred to as the statement of activities. Revenues and expenses are further categorized in the statement of activities by the donor restrictions on the funds received and expended.
The income statement can be prepared in one of two methods. The Single Step income statement takes the simpler approach, totaling revenues and subtracting expenses to find the bottom line. The more complex Multi-Step income statement (as the name implies) takes several steps to find the bottom line, starting with the gross profit. It then calculates operating expenses and, when deducted from the gross profit, yields income from operations. Adding to income from operations is the difference of other revenues and other expenses. When combined with income from operations, this yields income before taxes. The final step is to deduct taxes, which finally produces the net income for the period measured.
Archive | March, 2018
bitcoin reddit mining
Bitcoin Cash is a cryptocurrency. It is a result of a prolonged disagreement on how to handle the bitcoin scalability problem. A group of people not content with the Segregated Witness bitcoin rule change decided to increase bitcoin transaction capacity eight times. The change took effect on 1 August 2017. The change is incompatible with the existing bitcoin rules, which is why it is called a hard fork. As a result, the bitcoin ledger called the blockchain and the cryptocurrency split in two.
market economy vs command economy
Market (economics)
Market, a physical industry or general population market
Market economy
M?rket, an island distributed by Finland and Sweden
income tax brackets
Income tax in Australia is imposed by the federal government on the taxable income of individuals and corporations. State governments have not imposed income taxes since World War II. On individuals, income tax is levied at progressive rates, and at one of two rates for corporations. The income of partnerships and trusts is not taxed directly, but is taxed on its distribution to the partners or beneficiaries. Income tax is the most important source of revenue for government within the Australian taxation system. Income tax is collected on behalf of the federal government by the Australian Taxation Office.
Taxable income is the difference between assessable income and allowable deductions. There are three main types of assessable income for individual taxpayers: personal earnings (such as salary and wages), business income and capital gains. Taxable income of individuals is taxed at progressive rates from 0 to 45%, plus a Medicare levy of 2%, while income derived by companies is taxed at either 30% or 27.5% depending on annual turnover. Generally, capital gains are only subject to tax at the time the gain is realised and are reduced by 50% if the capital asset sold was held for more than 1 year.
In Australia the financial year runs from 1 July to 30 June of the following year.
How to Grab Attention on Facebook
Half of Facebook’s more than 2.2 BILLION active users are on Facebook in any 24 hour period. In addition, the average U.S. Facebook user spends nearly 6 hours a month browsing this social network.
In other words, if your business isn’t on Facebook yet, maybe it should be. And one of the first questions I invariably receive from newcomers concerning Facebook is, “What should I post to get people interested in my business?” Here are some ideas:
Showcase your customers. If you’ve got photos, videos or emails from happy customers using your products, go ahead and show them. Just remember, you’re not bragging about your product, you’re showing what your customers are doing with your product. Keep the difference in mind when choosing and framing content and you can’t go wrong.
Instead of showing a testimonial from Jimmy telling how great your product is, show Jimmy using or enjoying your product, or show the direct results Jimmy achieved with your product. For example, if you teach your customers how to restore classic cars, show Jimmy with before and after shots of his car.
Use humor. Don’t make yourself or your business overly serious on Facebook. Instead, use light-hearted humor whenever possible. This isn’t necessarily telling jokes – most times it’s simply taking a poke at yourself or your day, showing something in a humorous light, being witty or simply sharing that silly thing that happened to you a few minutes ago.
Post funny videos, especially if they’re relevant to your business. And don’t just grab videos from YouTube – make your own quick videos when you feel inspired.
Give them content. Facebook isn’t necessarily the place to offer long winded diatribes about anything. But it is a great place to share cool content – especially the “How-to” variety and the entertainment variety. And it doesn’t all need to originate with you – use curated content to round out your own and keep people engaged.
Let them inside. That is, show off your staff (if you have one) or your family or the inner workings of your business. Engage them by pulling back the curtain and showing what they normally wouldn’t get to see. For example, if you’re a one person business working out of your home, show them your office, your view, and your little dog that keeps you company. If your business has oodles of employees, post pictures of your in-office celebrations such as birthdays, as well as the antics that go on and so forth. By giving them a peak behind the curtain, your friends and fans feel very much included and part of the group. You’re no longer just a business, you’re part of their circle.
Ask questions. Nothing engages other people like asking them their opinion on something, even if it’s as silly as, “What’s better: Baseball or Football, and why?” Posts with questions get the conversation rolling, especially when it’s an easy question to answer. And be sure to respond to the answers you receive.
Use these Facebook “attention getters” to quickly begin brining more people your way.
bitcoin reddit investing
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
market economy def
A market trend is a perceived tendency of financial markets to move in a particular direction over time. These trends are classified as secular for long time frames, primary for medium time frames, and secondary for short time frames. Traders attempt to identify market trends using technical analysis, a framework which characterizes market trends as predictable price tendencies within the market when price reaches support and resistance levels, varying over time.
A trend can only be determined in hindsight, since at any time prices in the future are not known.
income tax refund calculator
Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. However, for households and individuals, “income is the sum of all the wages, salaries, profits, interests payments, rents, and other forms of earnings received… in a given period of time.”
In the field of public economics, the term may refer to the accumulation of both monetary and non-monetary consumption ability, with the former (monetary) being used as a proxy for total income.
bitcoin reddit new
The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.
market economy pros and cons
In economics, a free market is an idealized system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority. Proponents of the concept of free market contrast it with a regulated market, in which a government intervenes in supply and demand through various methods such as tariffs used to restrict trade and protect the economy. In an idealized free market economy, prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy.
In scholarly debates, the concept of a free market is contrasted with the concept of a coordinated market in fields of study such as political economy, new institutional economics, economic sociology, and political science. All of these fields emphasize the importance in actually existing market systems of rule making institutions external to the simple forces of supply and demand which create space for those forces to operate to control productive output and distribution.
One famous statement of the scholarly approach to the concept of free markets within political science is Freer Markets, More Rules by Steven K. Vogel. As the title suggests, the scholarly study of free markets is more accurately understood as the act of increasing or decreasing how strict rules are (more free or less free; liberalizing or deliberalizing) rather than the idealized concept of free markets as a state of the world. Free markets as a verb phrase, rather than free markets as a noun phrase.
Although free markets are commonly associated with capitalism within a market economy in contemporary usage and popular culture, free markets have also been advocated by free-market anarchists, market socialists, and some proponents of cooperatives and advocates of profit sharing. Criticism of the theoretical concept consider systems with significant market power, inequality of bargaining power, or information asymmetry to be less than free, with regulation being necessary to control those imbalances in order to allow markets to function more efficiently as well as produce more desirable social outcomes.
