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gerryleigh
Sep 22, 2007, 07:37 AM
Under GAAP, why are companies required to provide classified income statements
ROLCAM
Jun 4, 2009, 03:24 AM
They are considered classified so that you can give them a better meaning as to what you really want to convey to others.
There are quite a number of accounts that fall under this category, by classifying these
accounts you can obtain a better meaning.
I am referring to:
1) Financial Expenses.
2) Selling Expenses.
3) Administration Expenses.
These sub-totals have definite meanings.