3.1 Although the income statement is a record of past achievement, the calculations required for certain expenses
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3.1 ‘Although the income statement is a record of past achievement, the calculations required for certain expenses involve estimates of the future.’ What does this statement mean? Can you think of examples where estimates of the future are used?
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Financial Accounting For Decision Makers
ISBN: 9781292099040
8th Edition
Authors: Peter Atrill, Eddie McLaney
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