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Unformatted text preview: 2) Provide a basis for predicting future performance 3) Help assess the risk or uncertainty of achieving future cash flows Earnings Management: The planned timing of revenues, expenses, gains and losses to smooth out bumps in earnings. Multiple-Step Income Statement: 1) Separates operating and non-operating activities of the company. 2) A classification of expenses by functions, such as merchandising (COGS) and administration. *For layout see pg 131...
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This note was uploaded on 09/16/2009 for the course ACCTG 471 taught by Professor Muthannette during the Fall '08 term at Pennsylvania State University, University Park.
- Fall '08
- Income Statement