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Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).
Pivot tables are not created automatically. For example, in Microsoft Excel one must first select the entire data in the original table and then go to the Insert tab and select "Pivot Table" (or "Pivot Chart"). The user then has the option of either inserting the pivot table into an existing sheet or creating a new sheet to house the pivot table.
The default Excel 2007 and later workbook format. In reality, a ZIP compressed archive with a directory structure of XML text documents. Functions as the primary replacement for the former binary .xls format, although it does not support Excel macros for security reasons. Saving as .xlsx offers file size reduction over .xls [35] Excel Macro ...
The format was introduced in the 1980s and has not evolved since 1986. [ 2 ] A commonly encountered (and spurious) 'occurrence' of the SYLK file happens when a comma-separated value (CSV) format is saved with an unquoted first field name of 'ID', that is the first two characters match the first two characters of the SYLK file format.
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Consider an example from the expression language found in Microsoft_excel. Excel can calculate a cell's value dynamically by typing an expression such as "=SUM(C5:C10)", which performs the arithmetic sum of those 6 cells. The expression language in Ignition functions similarly.
For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income , defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions).
In terms of the Conceptual Framework (see "materiality in accounting" above), materiality also has a qualitative aspect. This means that, even if a misstatement is not material in "Dollar" (or other denomination) terms, it may still be material because of its nature. An example is if a disclosure is omitted from the financial statements.