An income statement is a financial statement that indicates how much money a company makes and how much money it spends. It also displays if a company is profitable or losing money over a given time period. The income statement, along with the balance sheet and cash flow statement, assists us in determining our company's financial health. A profit and loss statement, a statement of operation, a statement of financial result or income, or an earnings statement are all terms used to describe the income statement.

Income Statement – Financial Accounting I

In this “Income Statement – Financial Accounting I” you will learn about the following topics:

  1. Concepts of Income Statement
  2. Importance of an Income Statement
  3. Frequent Reports, Pinpointing Expenses, Overall Analysis Of The Company
  4. Who Uses An Income Statement?
  5. Income Statement Format With The Major Components
  6. Revenue Or Sales, Cost Of Goods Sold (COGS), Gross Profit, Gains, Expenses, Advertising Expenses, Administrative Expenses, Depreciation, Earnings Before Tax (EBT), Net Income, Retained Earnings (RE)
  7. How to Read an Income Statement?
  8. Single-Step Income Statement Example
  9. Multi-Step Income Statement Example
  10. Statement of Retained Earnings
  11. How Net Income Impacts Retained Earnings?
  12. How Dividends Impact Retained Earnings?
  13. Example To Calculate Retained Earnings

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BCA 2nd Semester Financial Accounting I Notes Pdf: