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LOCKER VALLEY REGIONAL COUNCIL 2017/2018 REVENUE STATEMENT 1.INTRODUCTIONSection 169 of the Local Government Regulation 2012 requires Council to prepare and adopt each financial year a Revenue Statement
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How to fill out 20172018 - revenue statement
How to fill out 20172018 - revenue statement
01
Step 1: Gather all necessary financial information such as sales revenue, cost of goods sold, operating expenses, interest income/expense, and other income/expense.
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Step 2: Divide the revenue statement into sections such as revenue, cost of goods sold, gross profit, operating expenses, operating income, interest income/expense, and net income.
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Step 3: Calculate the revenue by adding up all the sales generated during the period.
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Step 4: Calculate the cost of goods sold by determining the direct costs associated with the production or purchase of the goods sold.
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Step 5: Calculate the gross profit by subtracting the cost of goods sold from the revenue.
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Step 6: Calculate the operating expenses by adding up all the expenses incurred in the day-to-day operations, such as rent, salaries, utilities, and marketing expenses.
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Step 7: Calculate the operating income by subtracting the operating expenses from the gross profit.
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Step 8: Calculate the net income by taking into account interest income/expense and other income/expense.
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Step 9: Prepare the revenue statement by presenting the calculated values in a clear and organized manner.
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Step 10: Review and verify the accuracy of the revenue statement before finalizing it.
Who needs 20172018 - revenue statement?
01
Any business or organization that wants to track and analyze its financial performance for the year 2017-2018 needs a revenue statement.
02
Investors and shareholders may also require the revenue statement to evaluate the profitability and financial health of the business.
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The internal management team of the business uses the revenue statement to make informed decisions regarding pricing, cost control, and overall business strategy.
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Accounting professionals and financial analysts use the revenue statement to assess the financial viability of the business and provide recommendations for improvement.
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What is revenue statement?
Revenue statement is a financial document that shows the revenue earned by a company over a specific period of time.
Who is required to file revenue statement?
Companies and businesses are required to file revenue statements to report their earnings.
How to fill out revenue statement?
To fill out a revenue statement, one must gather information on all sources of revenue earned during the reporting period and then calculate the total revenue.
What is the purpose of revenue statement?
The purpose of a revenue statement is to provide a clear overview of the income generated by a company and to show how it contributes to the overall financial health of the business.
What information must be reported on revenue statement?
The revenue statement must report all sources of revenue, including sales, services rendered, and any other income generated by the company.
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