Question

Explain the typical relationship between retained earnings and net income/loss, and describe how this information is included in the qbo accountant budgeting process.

Answer 1

The typical relationship between retained earnings and net income/loss,tha Retained income represent the part of the net income of our organisation that remains after dividends have been paid on our shareholders.

The profits assertion is finished, the income discern from the time period is transferred to retained income inside the stockholder's fairness segment of the balance sheet. A net loss reduces retained profits; a net advantage will increase retained income.

The budgeting procedure lets an enterprise plan and prepare its budgets for a hard and fast length. It entails reviewing past budgets, identifying and forecasting sales for the coming period, and assigning amounts to spend on a enterprise's various prices.Feb 18, 2021

There are numerous extraordinary strategies to budgeting for businesses however those 4 kinds of budgets are the maximum generally used: incremental budgets, pastime-primarily based budgets, fee proposition budgets, and zero-primarily based budgets

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