If for example an income statement for a company says that all number are expressed in thousands than that would mean if it just had the number 1 for total assets then the total assets is 1,000. Is that correct? So if it said it had total assets fo 62,348 I would add 3 zeros to it to get the actual amount, right?
2007-12-05 04:43:22 · 2 answers · asked by wag19wag 1 in Business & Finance ➔ Personal Finance
correct
2007-12-05 04:50:37 · answer #1 · answered by bully 4 · 0⤊ 0⤋
You're correct, and if you're looking at an actual company and know enough about them you can look at it logically. Would a company making 1,000 in sales for a quarter be doing well? Probably not, but a million in sales isn't bad depending on the size of the company.
2007-12-05 05:42:55 · answer #2 · answered by mplsundin 4 · 0⤊ 0⤋
yes exactly that
it is done to keep financial records of a company looking 'clean' big numbers are difficult to interpret for most people
2007-12-05 04:54:02 · answer #3 · answered by Mike M 4 · 0⤊ 0⤋
Just add 3 zeros to the value.
62,348 (in thousands) = 62,348,000
2007-12-05 04:51:22 · answer #4 · answered by wija99 2 · 1⤊ 0⤋
yep
2007-12-05 04:50:51 · answer #5 · answered by chatsplas 7 · 0⤊ 0⤋