An asset.
asset and liability management
result in a overstated net income
Discontinued operations are calculated by isolating the financial results of a component of a business that has been disposed of or is classified as held for sale. This includes revenues, expenses, and any gains or losses from the sale of that component. The net income or loss from discontinued operations is reported separately on the income statement, below income from continuing operations, to provide clarity to investors about ongoing performance. Additionally, any related tax effects should also be considered in the calculation.
It means that something that you consider to be an asset, with some positive value, is regarded as a liability by the market.
impairment loss f an asset is the reduction in the income generating ability of that asset. it is calculated as: carrying value less recoverable amount. -carryibg value is the cost less accumulated depreciation -recoverable amount is the higher amount between the net selling price of an asset and its value in use.
asset liability
no
Interest income is part of revenue.
liability
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Accrued income tax (Income Tax Payable) is a current liability. When the tax is actually paid it is reported on the income statement as Income Tax Expense.
yes It is an Asset, not a Liability.
asset
No it is a current liability and is not included in the Income Statement, as other revenues would be.
unearned rental income is disclosed under which part? asset or liability?
Sales is not an asset, liability or equity account rather it is a revenue account and part of income statement rather balance sheet.
It is an asset