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year-to-date earnings

AAI (GLG5) explains the last entry on the balance sheet as the year-to-date income and loss. Does anyone know if this value is stored somewhere or does JDE calculate this value based on the Income Statement (ie. it is derived at the time a balance sheet is calculated)?

Thanks in advance as always,
Jill
 
As you say, the current year profit is calculated at the time of reporting. This account is used for reporting but never holds any balance.

Tom Lloyd

Thomas Lloyd & Associates Pty Ltd
Sydney Australia
 

JFinch

Member
It is derived at the time of the running of the balance sheet. It is
calculated based on the balance sheet information and is NOT actually
derived from the income and expense accounts. Your balance sheet is never
out of balance, but it may not balance to your income statement if you have
some integrity issues.
 
Re: RE: year-to-date earnings

Thanks for the responses so far....

Does this mean that regardless of the Income Profit and Loss, the year-to-date earnings is simply a calculated value that is equal to Assets-(Liabilities + Equity)? In other words, the bottom line of the Income statement may not equal the year-to-date earnings?

Thanks again for the responses,
Jill
 

JFinch

Member
RE: RE: year-to-date earnings

Yes. Due to integrity issues we have had situations where our Income
Profit/Loss was NOT equal to the YTD net income.
 
Re: RE: year-to-date earnings

You're correct in assuming that the 'canned' JDE Balance Sheet plugs the
YTD earnings portion, and it may not tie to the Income Statement. That's
why most folks use FASTR's for their financial reports.

Ian Morton
Peregrine Group, Inc.



----Original Message Follows----
From: jill_maclaurin <jill.maclaurin@cognos.com>
Reply-To: jdeworld@jdelist.com
To: jdeworldml@jdelist.com
Subject: Re: RE: year-to-date earnings
Date: Wed, 15 Aug 2001 09:51:35 -0700 (PDT)

Thanks for the responses so far....

Does this mean that regardless of the Income Profit and Loss, the
year-to-date earnings is simply a calculated value that is equal to
Assets-(Liabilities + Equity)? In other words, the bottom line of the Income
statement may not equal the year-to-date earnings?

Thanks again for the responses,
Jill


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Ian Morton
Peregrine Group, Inc.
 
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