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The income statement can be prepared in one of two methods. [4] The Single Step income statement totals revenues and subtracts expenses to find the bottom line. The Multi-Step income statement takes several steps to find the bottom line: starting with the gross profit, then calculating operating expenses. Then when deducted from the gross ...
Example statement of income (figures in thousands) [1] Revenue Sales revenue $20,438 Cost of goods sold: $7,943 Gross profit $12,495 Operating expenses Selling, general and administrative expenses $8,172 Depreciation and amortization: $960 Other expenses $138 Total operating expenses $9,270 Operating profit $3,225 Non-operating income $130
A consolidated financial statement (CFS) is the "financial statement of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent company and its subsidiaries are presented as those of a single economic entity", according to the definitions stated in International Accounting Standard 27, "Consolidated and separate financial statements", and International ...
The income and retained earnings of the accounting equation is also an essential component in computing, understanding, and analyzing a firm's income statement. This statement reflects profits and losses that are themselves determined by the calculations that make up the basic accounting equation.
Consolidated financial statements are defined as "Financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent (company) and its subsidiaries are presented as those of a single economic entity", according to International Accounting Standard 27 "Consolidated and separate financial ...
Expense (5 C, 29 P) P. Profit (1 C, 42 P) R. Revenue (2 C, 19 P) Pages in category "Income statement" The following 6 pages are in this category, out of 6 total.
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