Asked by: Burma Cholletasked in category: General Last Updated: 29th May, 2020
What does above and below the line mean?
Correspondingly, what is a below the line item in accounting?
Below the Line refers to items in a profit and loss account. It is an unofficial term used by people who deal with below and above the line expenses regularly. It includes exceptional and extraordinary items that are relevant to another accounting period. A Fiscal Year (FY) does not necessarily follow the calendar year
Similarly, what does it mean to be above the line? "Above-the-line" refers to the list of individuals who guide and influence the creative direction, process, and voice of a given narrative in a film and related expenditures. These roles include but are not limited to the screenwriter, producer, director, and actors.
Besides, what is below the line expenditure?
Below the line refers to line items in the income statement that do not directly impact a firm's reported profits. A firm may classify certain expenditures as being capital expenditures, thereby pushing them below the line by shifting them from the income statement to the balance sheet.
What is above the line budget?
Typically, a budget will start out with the “Above The Line” expenses. Typically, above-the-line refers to producers, directors, writers, cast (including name actors/movie stars, etc.), and stunt cast/personnel. So “Above the Line expenses” would refer to all of those positions, expenses, and personnel.