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Accounting Higher Level. Help Please :)

  • 16-06-2010 4:24pm
    #1
    karen-xxxxx
    Closed Accounts Posts: 24 ✭


    Does anyone know of the definate layout at the end of Q1?
    I've looked at solutions and some put profit on sale as operating income and some put it with investment income after operating profit? Please help :)


Comments

  • #2
    EvilLlamaThingy
    Closed Accounts Posts: 72 ✭✭EvilLlamaThingy


    I'm quite sure both are perfectly acceptable as long as you get the right figure.


  • #3
    **Timbuk2**
    Moderators, Education Moderators, Motoring & Transport Moderators Posts: 7,395 Mod ✭✭✭✭**Timbuk2**


    It is more correct to put Profit on sale of asset as Operating Income.


  • #4
    karen-xxxxx
    Closed Accounts Posts: 24 ✭karen-xxxxx


    Thanks very much.
    Is a change in the provision for bad debts also either an expense in S&D or operating income? Sorry and thanks :D


  • #5
    drumlover22
    Registered Users Posts: 372 ✭✭drumlover22


    karen-xxxxx wrote: »
    Is a change in the provision for bad debts also either an expense in S&D or operating income? Sorry and thanks :D

    I think an increase in an expense


  • #6
    karen-xxxxx
    Closed Accounts Posts: 24 ✭karen-xxxxx


    drumlover22 wrote: »
    I think an increase in an expense

    Yap, I know that but if it's a decrease in provision is that operating income or after the operating profit? :)


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  • #7
    EuropeanSon
    Registered Users, Registered Users 2 Posts: 2,819 ✭✭✭EuropeanSon


    karen-xxxxx wrote: »
    Yap, I know that but if it's a decrease in provision is that operating income or after the operating profit? :)
    After, I'm fairly sure.


  • #8
    Garykelleher
    Registered Users Posts: 23 ✭Garykelleher


    Decrease in provision will be in operating income. Once again they would probably except it if you add it before/after investment income etc..


  • #9
    karen-xxxxx
    Closed Accounts Posts: 24 ✭karen-xxxxx


    Thanks


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