Watch here video from Online Accounting Course - Sample Income Statement.
The video explains Multiple Income Statement essence and provides its parts. This statement includes different levels of revenues and expenses, that is why it is called Multiple Step Statement. It separates main activities from others reporting the results from main activities and also classifies expenses into different categories which is good for the financial analysis and interpretation of business operation results and success.
Sample Income Statement usually includes the following:
Operating Section - Revenues from main activities and related Expenses
Non-operating Section - Revenues and Expenses related to secondary activities
Income Taxes - reported separately
In the Sample Income Statement you can find also Gross Profit, Operating Income, Net Income Before Tax.
Watch Online Accounting Course Video - Sample Income Statement below:
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