Preparing an Income Statement

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vertical analysis

reporting an amount on a financial statement as a percentage of another item on the same financial statement

ratio analysis

the calculation and interpretation of a financial ratio

Total expenses ratio

total expenses divided by total sales

Heading of an Income Statement

Company Income Statement For Month Ended January 31,20--

Total Income ratio

Total income divided by total sales

Financial Ratio

a comparison between two components of financial information

Financial Accounting

accounting information and analyses prepared for external users

Managerial Accounting

accounting used to provide information and analyses to internal users


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