The Income Statement (CPE Course)

CPE Credit: 2 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $25

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Course Description
The income statement reveals the financial performance of a business, and so should be properly presented in order to convey the most relevant revenue and expense information to users. This course assists the accountant by noting the various presentation formats that can be used, as well as the content and description of each line item within the statement. It also discusses sample income statements from several publicly-held companies, in order to show the range of presentation possibilities. As an added bonus, the course describes the presentation of discontinued operations and other comprehensive income.

Author: Steven Bragg

Course Number: AC1117

Table of Contents
Chapter 1. Overview of the Income Statement
Chapter 2. Revenue and Expense Presentation on the Income Statement
Chapter 3. Discontinued Operations
Chapter 4. Comprehensive Income
Chapter 5. Income Statement Ratio Analysis

Learning Objectives

  • Differentiate between the various types of income statements.

  • List the types of information to be included in each type of income statement.

  • Recognize how noncash expenses can be used in the analysis of an income statement.

  • Specify which expenses can be included in the cost of goods sold.

  • Recognize which expenses can and cannot be allocated to discontinued operations.

  • Recognize the items that can and cannot be included in other comprehensive income.

  • Understand the differences between the margins that can be reported on an income statement.

  • Describe the contents of the ratios used to analyze the information in an income statement.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: February 2024

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.