Income Statement
Overview
The
Income statement
sheet should closely follow the format of your statutory accounts. To perform tax analysis, you use the following sheets: - Categorised income statement analysis
- Expense and income analysis
- Investment holding expense and income analysis
- Combined expense and income analysis
Completing the Sheets
You can import data for these sheets or enter data manually.
Audited income statement
This sheet is designed to replicate income statement from financial statements, analysis is not performed on this sheet. Once the sheet has been completed analysis can be performed on other analysis sheets.
Categorised income statement analysis
This sheet is used to analyse income statement values between businesses. For each business that is included in calculation, there is set of columns that is inserted on the
Categorised income statement analysis
sheet. If there is more than one business, there is a Common
column inserted. To assign values from common category to the businesses there is a need to use the Common income and expense allocation
row.It is possible to develop one of support sheets (
Expense and income analysis
or Investment holding expense and income analysis
) for each row in case further analysis is required.Expense and income analysis
This is the support sheet for the rows on the
Categorised income statement analysis
sheet for trading. And it is possible to develop additional support analysis sheets for each row on this sheet to drill down further into the amounts.Investment holding expense and income analysis
This is support sheet for the rows on
Categorised income statement analysis
sheet for investment holding. And it is possible to develop additional support analysis sheets for each row on this sheet to drill down further into the amounts.Combined expense and income analysis
This sheet can be inserted to analyse balances from multiple
Expense and income analysis
or Investment holding expense
and Income analysis
sheets cumulatively. This sheet has its own reconciliation section that would list all items analysed, as combined analysis from the Categorised income statement analysis
and the various expense and income analysis or investment holding expense and income analysis sheets.