Description:
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, extraordinary 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 extraordinary gains and losses.
4. Understand requirements when reporting discontinued operations
5. Recognize how stock option compensation plans affect the income statement.
6. Compute earnings per share in simple and complex capital structures.
7. Recognize the ASC 220 requirements for comprehensive income.
Topics Covered:
- Revenue, Expenses, Gains, and Losses
- Income Statement Formats
- Nonrecurring Gains or Losses
- Research and Development Costs
- Share-Based Payment
- Deferred Compensation Arrangements
- Advertising Costs
- Sales Incentives
- Insurance Costs
- Restructuring Charges
- 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
- Extraordinary Gains and Losses
- Earnings per Share
- Comprehensive Income
- Disclosures Associated with Operations
- Personal Financial Statements
Category: Accounting and Auditing
Field of Study: Accounting
Delivery Method: Online
Level: Basic to Intermediate
Prerequisite: Basic Accounting
Passing Score: 70%
NASBA: Yes, QAS Self Study
Author: Delta Publishing
ABOUT THE SUBJECT MATTER EXPERT:
Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,
California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.
