line item on the financial statements vs line item in the financial statements

Both phrases are correct, but they are used in slightly different contexts. 'Line item on the financial statements' is commonly used when referring to a specific entry or detail within the financial statements, while 'line item in the financial statements' is more general and refers to any entry within the financial statements.

Last updated: March 31, 2024 • 603 views

line item on the financial statements

This phrase is correct and commonly used when referring to a specific entry or detail within the financial statements.

This phrase is used to highlight a particular entry or detail on the financial statements, emphasizing its presence and significance.

Examples:

The depreciation expense is a significant line item on the financial statements.
The inventory valuation is a key line item on the financial statements.

Show examples from the web [+]

The final stage in the process of aggregation and classification is the presentation of condensed and classified data, which form line items in the financial statements.
Entities with not-for-profit activities in the private sector, public sector or government seeking to apply this standard may need to amend the descriptions used for particular line items in the financial statements and for the financial statements themselves.
the amounts recognised for each transaction and the line item in the financial statements in which each amount is recognised; and
Additional line items or notes shall be included if their omission would make the condensed interim financial statements misleading.
for each financial statement line item affected; and
Nor does this standard prohibit or discourage an entity from including in condensed interim financial statements more than the minimum line items or selected explanatory notes as set out in this standard.
Alternatively, the venturer may include separate line items for its share of the assets, liabilities, income and expenses of the jointly controlled entity in its financial statements.
Certificates on the financial statements shall not be required for indirect actions entirely reimbursed by means of lump sums or flat rates.
Finds it incomprehensible that auditors of beneficiaries submit erroneous certificates on the financial statements;
The disclosure of related party transactions in the financial statements is important because it draws attention to possible effects on the financial position of a company.
(c) notes on the financial statements comprising:
The major impacts on the financial statements of this change were as follows:
Moreover, a certificate on the financial statements, issued by an independent and qualified auditor, should be submitted when the reimbursement for certain amounts is requested.
Items of a similar nature may be disclosed in aggregate except when separate disclosure is necessary for an understanding of the effects of related party transactions on the financial statements of the entity.
Where beneficiaries produce a certificate on the financial statement, administrative checks may be carried out on that certificate.
Notwithstanding the Financial Regulation and the Implementing Rules, a certificate on the financial statements shall be compulsory only whenever the cumulative amount of interim payments and balance payments made to a participant is equal to EUR 375000 or more for an indirect action.
'Notwithstanding the Commission's efforts, the notes to the financial statements still do not contain complete and reliable accounting data on the financial correction activities made by the Member States, in particular in the area of Structural Actions'.
In preparing consolidated financial statements, an entity combines the financial statements of the parent and its subsidiaries line by line by adding together like items of assets, liabilities, equity, income and expenses.
The first item on Wednesday will be that President Borrell and the political group leaders will make brief statements on the results of the latest trilogue on the financial perspectives.
In the case of public bodies, research organisations, and higher and secondary education establishments, a certificate on the financial statements as required under paragraph 1 may be established by a competent public officer.

Alternatives:

entry on the financial statements
detail on the financial statements
item listed on the financial statements
element on the financial statements
figure on the financial statements

line item in the financial statements

This phrase is correct and is more general, referring to any entry within the financial statements.

This phrase is used to discuss entries or details within the financial statements in a broad sense, without specifying a particular item.

Examples:

There are several line items in the financial statements that need further analysis.
Each line item in the financial statements contributes to the overall financial picture.

Show examples from the web [+]

the amounts recognised for each transaction and the line item in the financial statements in which each amount is recognised; and
The final stage in the process of aggregation and classification is the presentation of condensed and classified data, which form line items in the financial statements.
Entities with not-for-profit activities in the private sector, public sector or government seeking to apply this standard may need to amend the descriptions used for particular line items in the financial statements and for the financial statements themselves.
the line items in the statement of financial position in which those assets and liabilities are recognised.
the line item in the statement of financial position that includes the hedging instrument;
A class of assets and liabilities will often require greater disaggregation than the line items presented in the statement of financial position.
However, an entity shall provide information sufficient to permit reconciliation to the line items presented in the statement of financial position.
The explanatory notes shall be presented with cross references to the items in the financial statements to which they relate and in the same order of presentation.
The accounting principles and evaluation methods used for the items in the financial statements take account of the constraints and resolutions applicable to the ECSC in liquidation under the Treaties and other decisions adopted by the institutions of the European Communities.
The presentation and classification of items in the financial statements shall be retained from one period to the next unless:
Additional line items or notes shall be included if their omission would make the condensed interim financial statements misleading.
for each financial statement line item affected; and
No justification for this reduction in cofinancing appears in the financial statement.
The final result, whether positive or negative, shall appear in the financial statement.
Contingent assets are assessed continuously to ensure that developments are appropriately reflected in the financial statements.
These obligations are valued annually by independent actuaries to establish the appropriate liability in the financial statements.
This may be included in the financial statements or in the actuary's report.
This standard shall be applied in accounting for construction contracts in the financial statements of contractors.
Contingent assets are assessed continually to ensure that developments are appropriately reflected in the financial statements.
Each material class of similar items shall be presented separately in the financial statements.

Alternatives:

entry in the financial statements
detail in the financial statements
item within the financial statements
element in the financial statements
figure in the financial statements

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line item on the financial statements vs line item in the financial statements