Expenses

[william.woon]

Hey Guys,
I've been doing this for the whole year and I'm not too sure if this is okay. Whenever I have for example less Expenses or less Payments for all the amount under that subheading I put a bracket around the amount. Would I lose marks for that? So for example:

less Expenses
Rent                 (5,000)
Wages              (10,000) (15,000)

Is that okay? My teacher hasn't taken marks off for it tho.

[redcracker]

i would think that a double negative here would make a positive, and that it is not okay

but i don't know for sure if you would lose marks for it

[saiyanwarrior14]

This should be fine especially in the income or cash flow statement, the brackets are needed to signal an outflow of cash or credit

[Valyria]

This should be fine especially in the income or cash flow statement, the brackets are needed to signal an outflow of cash or credit

The 'less expenses' implies the incurred expenses will be subtracted from the total revenue. Having brackets around individual accounts would negate the signposting of 'less'. Stringent examiners will take a mark off, so I'm with redcracker on this one, remove the brackets but keep the 'less expenses'.

[saiyanwarrior14]

The 'less expenses' implies the incurred expenses will be subtracted from the total revenue. Having brackets around individual accounts would negate the signposting of 'less'. Stringent examiners will take a mark off, so I'm with redcracker on this one, remove the brackets but keep the 'less expenses'.

Yeah that is a good point. However i was always taught to put brackets around expenses. Not sure if that includes those under 'LESS' expenses but good point none the less:)

[william.woon]

Thanks to everyone who responded. I decided to not do it, just to be safe. Other than certain parts of the cash flow statements or for bank balances. Thanks everyone!

[marsbareater12]

I'm doing the same - is it okay to put brackets around the subtotal amount, so eg;

Less expenses:
Wages                1000
Advertising            500        (1500)

?

[william.woon]

I don't think so. Because it's already saying less and the subtotal is all the amounts with a imaginary bracket outside of them. Only time I use brackets is in a cash flow statement.