Accounting Study Guide

U.S. GAAP Codification IFRS International Standards Accounting Topics


Examples of Detailed Income Statement


U.S. GAAP Codification IFRS Accounting Terms,  Accounting Jobs
Principles of Accounting Intermediate Accounting Advanced Accounting
Accounting Standards ASC Accounting by Topic,  Accounting Textbooks



Financial Statements Overview

 

Sample Technology Corporation
Income Statement
For the Year Ended December 31, 2011


Net Sales    
     Sales    
     Less: Sales returns and allowances    
Cost of Goods Sold    
Gross Profit    
     
Selling, General and Administrative Expenses    
      Salaries    
      Advertising expenses    
      Taxes and insurance    
      Depreciation and amortization expense    
      Bad debts expense    
      Other selling, general and administrative expenses    
Operating Income (Loss)    
     
Other Revenues and Gains    
     Interest income    
     Gain on sale of investment    
Other Expenses and Losses    
     Interest expense    
     Loss on sale of equipment    
Income (Loss) from Continuing Operations before Income Taxes    
     
Income Taxes Expense    
Income (Loss) from Continuing Operations    
     
Discontinued Operations:    
     Gain (Loss) from operations of discontinued business segment
        (Net of income tax effect of $     )
   
     Gain (Loss) on disposal of business segment
        (Net of income tax effect of $     )
   
Extraordinary Gain (Loss) from Early Extinguishment of Debts
        (Net of income taxes effect of $     )
   
Net Income (Loss)    
     
Earnings per Common Share:    
     Income from Continuing Operations    
     Discontinued Operations    
     Extraordinary Gain (Loss)    
     Net Income (Loss)    

 
Components of Income Statement
 
   Examples of Revenue and Gain Accounts
   Examples of Expense and Loss Accounts


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U.S. GAAP Codification
International Financial Reporting Standards (IFRS)
 
Accounting Topics
Inventory Valuation Methods
Depreciation Methods
Revenue Recognition Principle
Accrual Basis vs. Cash Basis Accounting
Basics of Journal Entries
Ratios for Financial Statement Analysis
Overview of Financial Statements









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