Income statement and Real-time gross settlement system: Difference between pages

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''Accounting - Financial reporting''.
(RTGS).  


(IS).
''Funds transfer''.


A statement that sets out how the net profit or loss for a period is arrived at.
A gross settlement system in which processing and settlement take place in real time (continuously).
 
Also known as the ''statement of profit or loss'' or ''profit and loss account''.
 
 
Under the 'double entry' accounting convention, income items in the Income statement are Credits (CR) and expenses are Debits (DR).
 
A net profit for the period under review is a Credit in the Income statement.
 
A net loss for the period is a Debit in the Income statement.
 
 
Net profits or losses <u>for the period</u> - in the Income statement - feed through in turn to the Shareholders' funds (<u>cumulative</u> retained profits or losses) in the 'bottom half' of the Balance sheet (as <u>at the end of the period</u>).




== See also ==
== See also ==
* [[Accruals concept]]
* [[BESP]]
* [[Accrued income]]
* [[Continuous linked settlement]] (CLS)
* [[Balance sheet]]
* [[EONIA]]
* [[Cashflow statement]]
* [[Fedwire]]
* [[Credit]]
* [[Gross settlement system]]
* [[Debit]]
* [[Interlinking]]
* [[Deferred income]]
* [[Net settlement system]] (NSS)
* [[Expense]]
* [[Payments and payment systems]]
* [[Financial statements]]
* [[Real-time transmission, processing or settlement]]
* [[Income statement exposure]]
* [[Settlement account]]
* [[Net profit]]
* [[Trans-European automated real-time gross settlement express transfer]]
* [[Primary statements]]
* [[Profit and Loss account]]
* [[Statement of changes in equity]]
* [[Statement of profit or loss and other comprehensive income]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Cash_management]]

Revision as of 19:45, 26 June 2022

(RTGS).

Funds transfer.

A gross settlement system in which processing and settlement take place in real time (continuously).


See also

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