Easily Delete Demanded Field to the 12 Month Income Statement

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How to Delete Demanded Field to the 12 Month Income Statement

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The standard financial statements in Sage 50 include a useful report called the "Standard Income 12 Period," which displays the current fiscal year broken down by each month. However, users have noted that there is no option to select a specific date range, limiting the report to only the current period. To work around this limitation, users can create a custom financial statement by clicking the save button while viewing the report and assigning it a new name, such as "My Income 12 Period." This process allows for enhanced flexibility, as the new report appears in the list of available reports for further use.

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How do you report discontinued operations on an income statement?

Income and expenses related to discontinued operations can be found on line items on a companys income statement, below Continuing Operations Income and above Net Income.

Which of the following is an example of discontinued operations reported in a companys income statement?

Examples of discontinued operations could include: Closure of unprofitable division. Redundancy due to merger. Sale of a product line.

How do you record discontinued operations?

The discontinued operations section must report on the income and gain/loss of the discontinued component, net of income tax. The assets and liabilities of discontinued operations must be classified as held-for-sale when it meets the criteria and must be classified as current assets in the balance sheet.

How do you break down an income statement?

Your income statement follows a linear path, from top line to bottom line. Think of the top line as a rough draft of the money youve madeyour total revenue, before taking into account any expensesand your bottom line as a final draftthe profit you earned after taking account of all expenses.

How should a discontinued operation be presented in the financial statements?

In the period(s) that a discontinued operation is classified as held for sale and for all prior periods presented, the assets and liabilities of the discontinued operation shall be presented separately in the asset and liability sections, respectively, of the statement of financial position.

What is a 12-month income statement?

Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures. A companys trailing 12 months represents its financial performance for a 12-month period; it does not typically represent a fiscal-year ending period.

How are discontinuing operations to be reported on an income statement?

Discontinued operations is an accounting term for parts of a firms operations that have been divested or shut down. They are reported on the income statement as a separate entry from continuing operations.

What is a 12-month trailing income statement?

Trailing 12-month, or TTM, refers to the past 12 consecutive months of a companys performance data used for reporting financial figures. By consistently evaluating trailing 12-month numbers, company financials can be evaluated both internally and externally without regard for the artificiality of fiscal year-end.

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Delete Demanded Field to the 12 Month Income Statement