intermediateaccountingtheincomestatement(编辑修改稿)

intermediateaccountingtheincomestatement(编辑修改稿)内容摘要：

y” with other panies that it owns, called subsidiaries. 431 Describe the specific ponents of an ine statement. OBJECTIVE 5 432 Components of the Ine Statement 1. Revenue 2. Cost of goods sold 3. Operating expenses 4. Other revenues and gains 5. Other expenses and losses 6. Ine taxes on continuing operations 433 Gross profit = Revenue – Cost of goods sold Operating ine = Gross profit – Operating expenses Ine from Continuing Operations Determining Subtotals 434 Ine from continuing operations before taxes = Operating ine + Other revenues and gains – Other expenses and losses Ine from continuing operations = Ine from continuing operations before ine taxes – Ine taxes on continuing operations Ine from Continuing Operations Determining Subtotals 435 Revenue Revenue reports the total sales to customers for the period less any sales returns and allowances or discounts. Components of the Ine Statement 436 Cost of Goods Sold Components of the Ine Statement Beginning inventory + Net purchases + Freightin + Other inventory acquisition costs = Cost of goods available for sale – Ending inventory = Cost of goods sold 437 Cost of goods sold is a significant item on merchandising and manufacturing panies’ ine statements. Components of the Ine Statement 438 Net sales – Cost of goods sold = Gross profit Gross profit 247。 Net sales = Gross profit percentage Gross Profit Components of the Ine Statement 439 Operating expenses may be reported in two parts: 1. Selling expenses Operating Expenses 2. General and administrative expenses Components of the Ine Statement 440 Operating ine measures the performance of the fundamental business operations conducted by a pany. Operating Ine Components of the Ine Statement Gross profit – Operating expenses = Operating ine 441 This section usually includes items identified with the peripheral activities of the pany. • Rent revenue • Interest revenue • Dividend revenue • Gains from the sale of assets Other Revenues and Gains Components of the Ine Statement 442 This section parallels “Other Revenues and Gains” except the items result in deductions from operating ine. • Interest expense • Losses from the sale of assets Other Expenses and Losses Components of the Ine Statement 443 Discontinued Operations • The operations and cash flows of the ponent must be clearly identifiable. • For example, discontinued operations would result if a pany closed one of four operating segments which tracks its cash flows and ine separately. • The ultimate disposal must be expected within one year of the period for which results are being reported. To report discontinued operations: 444 • The ponent may be unprofitable. • The ponent may not fit into the longrange plans for the pany. • Management may need funds to reduce。