Jedox Finance

OCTOBER 6, 2022

The profit and loss statement is one of the main parts of the annual statement that companies must prepare at the end of a financial year, along with the cash flow statement and accounting balance sheet. This article discusses influential factors, advantages, and common problems considering the profit and loss statement.

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CFO Talks

NOVEMBER 20, 2024

For example, while South African companies follow International Financial Reporting Standards (IFRS), the US requires compliance with its Generally Accepted Accounting Principles (GAAP). IFRS is principles-based and allows for some judgment in financial reporting, while GAAP is more rigid, rules-based, and less forgiving.

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PYMNTS

DECEMBER 3, 2019

The We Company , the parent of WeWork , uses a cash-flow metric called the “contribution margin,” which showed that its core services were profitable, Bloomberg Tax reported on Tuesday (Dec. The company used generally accepted accounting principles (GAAP) to essentially turn a $1.9 billion net loss into a $142 million profit.

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The Charity CFO

JANUARY 17, 2022

The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. . So let’s start with the basics, and later we’ll dig into some of the things that make nonprofit accounting unique. . How is nonprofit accounting different? Difference #2: Fund Accounting.

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The Finance Weekly

MARCH 25, 2024

In a nutshell, companies are starting to view CFOs as smart investments rather than just expenses. The CFO's job is to decipher various departmental forecasts to create profit projections for the CEO and shareholders. It's like looking at the gain or loss you make from an investment compared to what you spent.

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The Charity CFO

FEBRUARY 25, 2022

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? Gain/Loss on Sale of Assets. Assets-1000s. Liabilities-2000s.

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Cube Software

MAY 10, 2023

It is important to accurately track and report unearned revenue, so you can properly manage profit margins. It helps companies assess their progress, manage risks, and make informed investment decisions. An income statement, also called a Profit and Loss statement (or P&L) records revenue and expenses over time.

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