Outrageously Funny Word Dictionary :: Deductions

👉 Deductions are a method used in accounting and finance to calculate the amount of expenses that should be deducted from an income statement or balance sheet. These deductions are typically based on fixed costs, such as rent, insurance, and salaries, and variable costs, such as utilities and office supplies. In simple terms, deductions are subtracted from the income statement to determine how much money is left after deducting certain expenses. This process helps in understanding where the company stands financially and can help identify areas that

deductions