Income Statement: Accounting and Reporting - 2019 (Text Based)

This course addresses income statement accounting and reporting. It discusses a variety of accounting issues surrounding income statement items and related information; the format of the income statement, major income statement categories, unusual and nonrecurring items, discontinued operations, research and development costs, deferred compensation arrangements, share-based payment, compensation expense arising under a stock option plan, insurance costs, and earnings per share (EPS) calculation.


Learning Objectives:

1. Identify the differences between a single-step income statement and a multiple-step income statement
2. Recognize key items of the income statements and how they should be reported
3. Determine the requirements for unusual or infrequent income
4. Recognize requirements when reporting discontinued operations
5. Recognize how stock option compensation plans affect the income statement
6. Compute earnings per share in a simple and complex capital structures
7. Recognize the ASC 220 requirements for comprehensive income