ABCDEFGHIJKLMNOPQRSTUVWXYZ
1
2
3
Multi-Step Income StatementOther Items to ConsiderSingle-Step Income Statement
4
5
Operating Section
Sales (Goods, Services, and Rentals)
Revenues and Other Items:
6
Less: Sales Discounts and Sales Returns and Allowances
1. G/L From Foreign Currency Remeasuremnts are included in Income from Continuing Operations (Functional Currency DOES NOT = Local Currency)
Sales Revenue (Less Discounts and Returns)
7
Net Sales
Service Revenue
8
Beginning Inventory
Interest Revenue
9
Plus: Purchases and Freight In
Rental Revenue
10
Less: Purchase Discounts and Allowances
Gain on Sale of Fixed Assets
11
Net Purchases
Other Revenue
12
Plus: Goods Available for Sale
Total Revenues and Other Items
13
Less: Ending Inventory
Expenses and Other Items:
14
Cost of Goods Sold
COGS
15
Gross Profit (Loss)
COSS
16
Selling Expenses (RACFS)
*RACES to Sell
Cost of Rental Income
17
Rental of Normal Operations
Selling Expenses (RACFS)
18
Advertising
Rental of Normal Operations
19
Commision
Advertising
20
Freight-Out
Commision
21
Salaries of Normal Workers
Freight-Out
22
General and Administrative Expenses (PAIRS)
* SG&A come in a PAIRS
Salaries of Normal Workers
23
Property Tax
General and Administrative Expenses (PAIRS)
24
Accounting and Legal
Property Tax
25
Insurance
Accounting and Legal
26
Rent of Administrative Use
Insurance
27
Salaries of Officers
Rent of Administrative Use
28
Uncollectible Accounts (BDE)
Salaries of Officers
29
Depreciation Expense
Interest Expense
30
Income (Loss) from Operations
Depreciation Expense
31
Non-Operating Section
Other Revenues and Gains:
Loss on Sale of Fixed Assets
32
Interest Revenue
Loss on Sale of AFS Securities
33
Gain on Sales of AFS Securities
Income Tax Expense
34
Other Revenue
Total Expenses and Other Items
35
Other Expenses and Losses
Income from Continuing Operations, After Tax
36
Interest Expense
Discontinued Operations (Net of Tax)
37
Loss on Sale of Fixed Assets (PPE)
Net Income
38
Restructuring Expense
39
Income Before Income Tax
40
Income Tax Expense
41
Income From Continuing Operations
42
Discontinued Operations (Net of Tax)
43
Net Income
44
45
46
47
48
49
ComputationsComprehensive Income
50
51
Beginning Inventoy
Net Income
52
+ Purchases
+/- Pension Adjustments
OCI
53
COGSAFS
+/- Unrealized Gain/Loss on AFS Securities and CF Hedges
OCI
54
- Ending Invenotry
+/- Foreign Currency Translation
OCI
55
COGS
+/- Instrument Specific Credit Risks (Liabilities at FMV)
OCI
56
Comprehensive Income
57
Beginning AD
58
+ Depreciation Charged to Operations
59
- Accumulated Depreciation on Equipment Sold
60
Ending AD
61
62
Beginning Allowance
63
+ Recoveries
64
- Write Offs
65
- Bad Debt Expense
66
Ending Allowance
67
68
Beginning AR
69
+ Sales
70
-Write Offs
71
- Collections from Customers
72
Ending Accounts Receivables
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100