Ask Experts Questions for FREE Help!
 
Free Answers in 3 Easy Steps

Register Now		 3 Steps
 
Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.
  Answer this Question    Ask about Accounting    Ask about another Subject  
 
PDA

Gracie Mae
Jun 3, 2009, 02:47 PM
Explain why income statements are "classified"?
ROLCAM
Jun 4, 2009, 03:21 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.