The Income Statement And Statement Of Cash Flows - Ppt Download
{"Image DocumentName": "Income Statement (Single-Step)", "Image ImageDescription": "Proper Heading. Revenues & Gains. Expenses & Losses. No specific standards dictate how income from continuing operations must be displayed, so companies have considerable latitude in how they present the components of income from continuing operations. This flexibility has resulted in a variety of income statement presentations. However, we can identify two general approaches, the single-step and the multiple-step. This slide illustrates an example of a single step income statement for a hypothetical manufacturing company, Maxwell Gear Corporation. The single-step format first lists all the revenues and gains included in income from continuing operations. Then, expenses and losses are grouped, subtotaled, and subtracted\u2014in a single step\u2014from revenues and gains to derive income from continuing operations. Operating and nonoperating items are not separately classified.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}