{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

118-INCOME STATEMENT COMPONENTS-1

118-INCOME STATEMENT COMPONENTS-1 - Income from continuing...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Income statement components Caption $ Net EPS Comments of tax Revenues (Sales) X May be in multiple-step format, i,e., subtotals for Costs and expenses: (X) gross profit, operating income Cost of goods sold (Cost of sales) (X) Selling, general & admin expenses (X) Research & development expense (X) Depreciation and amortization (X) Special charges (X) Restructuring, asset impairment, merger costs, etc. Gains and losses X(X) Versus revenues, expenses and below "The Line" items Interest income X Interest expense (X) Financing costs Equity income X Equity in earnings of affiliates owned 20%, 50% Income before taxes X Income taxes (X) Minority interest in net income (X) Y Will be repositioned starting in 2009 (new standard)
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Income from continuing operations X Y Y "THE LINE" (= NET INCOME if no items below) Discontinued operations X(X) Y Y G/L from disposal of a business segment Extraordinary items X(X) Y Y Unusual and infrequent gains and losses (rare) Cumulative effect of acctg changes X(X) Y Y No longer; restatement or prospective after 2005; versus changes in accounting estimates NET INCOME X Y Y "Bottom line" – Closed to retained earnings Comprehensive income items X(X) Y N Pension, securities, derivatives, currency adjustments Comprehensive income X Y N Current items closed to AOCI 118...
View Full Document

{[ snackBarMessage ]}