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Income Statement: Accounting and Reporting (Course Id 1165)

QAS / Registry
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Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 41 ||| Review Questions: 19 ||| Final Exam Questions: 20
CPE Credits : 4.0
IRS Credits : 0
Price : $35.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1165

Description :

This course addresses income statement accounting and reporting. It discusses a variety of accounting issues surrounding income statement items and related information; the format of the income statement, major income statement categories, unusual and nonrecurring items, discontinued operations, research and development costs, deferred compensation arrangements, share-based payment, compensation expense arising under a stock option plan, insurance costs, and earnings per share (EPS) calculation.  

Usage Rank : 0
Release : 2021
Version : 1.0
Prerequisites : Basic Accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 09-Apr-2022
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1165

Keywords : Accounting, Income, Statement, Accounting, Reporting, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After completing this course, you should be able to:
    1. Identify the differences between a single-step income statement and a multiple-step income statement.
    2. Recognize key items of the income statements and how they should be reported.
    3. Determine the requirements for unusual or infrequent income.
    4. Recognize requirements when reporting discontinued operations.
    5. Compute earnings per share in a simple and complex capital structures.
    6. Recognize the ASC 220 requirements for comprehensive income.
Course Contents :

Chapter 1 - Income Statement: Accounting and Reporting

Course Learning Objectives

Revenue, Expenses, Gains, and Losses



Gains and Losses

Income Statement Formats

Unusual or Infrequently Occurring Items

Research and Development Costs

Share-Based Payment

Key Concepts

Share-Based Payment Simplification

Models Used to Value Share Options

Nonvested and Restricted Stock

Employee Stock Purchase Plans

Cash-Settled Share-Based Liability Awards

Share-Based Compensation Plan Disclosures


Tax Aspects

Deferred Compensation Arrangements

Advertising Costs

Insurance Costs

Life Insurance

Casualty Insurance

Business Interruption Insurance

Restructuring Charges

Costs Associated with Exit or Disposal Activities

Website Development Costs

Income Statement Presentation Starting with Income from Continuing Operations

Review Questions - Section 1

Discontinued Operations and Related Disposal of Long-Lived Asset

Classification as Held for Sale

Exceptions to the One-Year Requirement That Must Exist for Held-for-Sale Classification

Other Held-for-Sale Considerations

Held-for-Sale Measurement Considerations

Changing the Decision to Sell

Classification as a Discontinued Operation

Reporting the Gain or Loss from Operations of the Discontinued Component

Reporting and DisclosureŚLong-Lived Asset or Disposal Group That Has Been Sold or Is Classified For Sale

Earnings per Share

Basic Earnings per Share

Diluted Earnings per Share

Antidilutive Securities

Share-Based Payment Transactions

Earnings per Share and Specialized Disclosures on the Income Statement

Down Round Features

Business Combinations


Review Questions - Section 2

Comprehensive Income

Disclosures Associated with Operations

Change in Accounting Principle

Change in Accounting Estimate

Personal Financial Statements

Review Questions - Section 3

Appendix: IPR&D Disclosures


CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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