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Course Details

The Income Statement (Course Id 1338)

New / QAS / Registry   Add to Cart 
Author : Steven Bragg, CPA
Status : Production
CPE Credits : 2.0
IRS Credits : 0
Price : $17.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1338

Description :

The income statement reveals the financial performance of a business, and so should be properly presented in order to convey the most relevant revenue and expense information to users. This course assists the accountant by noting the various presentation formats that can be used, as well as the content and description of each line item within the statement. It also discusses sample income statements from several publicly-held companies, in order to show the range of presentation possibilities. As an added bonus, the course describes the presentation of discontinued operations and other comprehensive income.

Usage Rank : 0
Release : 2018
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 24-Feb-2018
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 - NASBA Registry - 1338

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

Course Learning Objectives

  • Differentiate between the various types of income statements.
  • List the types of information to be included in each type of income statement.
  • Recognize how noncash expenses can be used in the analysis of an income statement.
  • Note which expenses can be included in the cost of goods sold.
  • Recognize which expenses can and cannot be allocated to discontinued operations.
  • Recognize the items that can and cannot be included in other comprehensive income.
  • Understand the differences between the margins that can be reported on an income statement.
  • Describe the contents of the ratios used to analyze the information in an income statement.

Chapter 1
Overview of the Income Statement

  • Differentiate between the various types of income statements.
  • List the types of information to be included in each type of income statement.

    Chapter 2
    Revenue and Expense Presentation on the Income Statement

  • Recognize how noncash expenses can be used in the analysis of an income statement.
  • Note which expenses can be included in the cost of goods sold.

    Chapter 3
    Discontinued Operations

  • Recognize which expenses can and cannot be allocated to discontinued operations.

    Chapter 4
    Comprehensive Income

  • Recognize the items that can and cannot be included in other comprehensive income.

    Chapter 5
    Income Statement Ratio Analysis

  • Understand the differences between the margins that can be reported on an income statement.
  • Describe the contents of the ratios used to analyze the information in an income statement.
  • Course Contents :

    Chapter 1 - Overview of the Income Statement

    Income Statement Overview

    The Single-Step Income Statement

    The Multi-Step Income Statement

    The Condensed Income Statement

    The Contribution Margin Income Statement

    The Multi-Period Income Statement

    How to Construct the Income Statement

    Income Statement Disclosures

    Other Income Statement Topics

    The Cash Basis Income Statement

    The Partial Income Statement

    Headline Earnings

    Earnings per Share

    Review Questions

    Chapter 2 Revenue and Expense Presentation on the Income Statement

    Presentation of Revenue

    Presentation of the Cost of Goods Sold

    Presentation of Compensation Expense

    Presentation of Selling, General and Administrative Expenses

    Presentation of Noncash Expenses

    Presentation of Utilities

    Expenses with Alternative Placements

    Presentation of Subtotals

    Examples of Income Statement Presentation

    Review Questions

    Chapter 3 - Discontinued Operations

    Discontinued Operations

    Discontinued Operations Disclosures

    Review Questions

    Chapter 4 - Comprehensive Income

    Overview of Comprehensive Income

    Comprehensive Income Disclosures

    Examples of Comprehensive Income Presentation

    Review Questions

    Chapter 5 Income Statement Ratio Analysis

    Sales Returns and Allowances to Sales

    Gross Profit Ratio

    Operating Ratio

    Net Profit Ratio

    Breakeven Point

    Margin of Safety

    Review Questions

    Glossary

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