With easy-to-follow examples and sample statements, this course explains how to prepare different types of income statements. This course also discusses the accounting issues surrounding income statement items and related information, including: income statement format, major income statement categories, extraordinary and nonrecurring items, discontinued operations, research and development costs, deferred compensation arrangements, compensation expense arising under a stock option plan, insurance costs, and earnings per share calculation.
Upon successful completion of this course, participants will be able to:
- Identify the differences between a single-step income statement and a multiple-step income statement.
- Recognize key items of the income statements and how they should be reported.
- Determine the requirements for unusual or infrequent income.
- Recognize requirements when reporting discontinued operations.
- Recognize how stock option compensation plans affect the income statement.
- Compute earnings per share in a simple and complex capital structures.
- Recognize the ASC 220 requirements for comprehensive income.
Table of Contents
Revenue, Expenses, Gains, and Losses
Sales with Buyback Agreements
Sales When Right of Return Exists
Gains and Losses
Income Statement Formats
Nonrecurring Gains or Losses
Research and Development Costs
Research and Development Costs Acquired as Part of a Business Combination
Models Used to Value Employee Share Options
The Black-Scholes Option-Pricing Model
Nonvested and Restricted Stock
Cash-Settled Share-Based Liability Awards
Share-Based Compensation Plan Disclosures
Deferred Compensation Arrangements
Business Interruption Insurance
Costs Associated with Exit or Disposal Activities
Website Development Costs
Income Statement Presentation Starting with Income from Continuing Operations
Discontinued Operations and Related Disposal of Long-Lived Asset Considerations
Other Held-for-Sale Considerations
Held-for-Sale Measurement Considerations
Changing the Decision to Sell
Reporting the Gain or Loss from Operations of the Discontinued Component
Reporting and Disclosure—Long-Lived Asset or Disposal Group That Has Been Sold or Is Classified for Sale
Earnings per Share
Basic Earnings per Share
Diluted Earnings per Share
Share-Based Payment Transactions
Earnings per Share and Specialized Disclosures on the Income Statement
Disclosures Associated with Operations
Change in Accounting Principle
Change in Accounting Estimate
Personal Financial Statements
Review Question Answers and Rationales
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