Although the income statement is a record of past achievement, the calculations required for certain expenses involve

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‘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: 9781405888219

5th Edition

Authors: Dr Peter Atrill, Eddie Mclaney, Sin Autor

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Question Posted: Sep 18, 2018 01:29 PM

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Although the income statement is a record of past achievement, the calculations required for certain expenses involve

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Financial Accounting For Decision Makers

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