TAILIEUCHUNG - Lecture Intermediate accounting: Principles and analysis (2nd edition): Chapter 5 - Warfield, Weygandt, Kieso

Chapter 5 - Income statement and related information. After studying this chapter, you should be able to: Understand the uses and limitations of an income statement, prepare a single-step income statement, prepare a multiple-step income statement, explain how to report irregular items, explain intraperiod tax allocation. | CHAPTER 5 INCOME STATEMENT AND RELATED INFORMATION INTERMEDIATE ACCOUNTING Principles and Analysis 2nd Edition Warfield Weygandt Kieso Understand the uses and limitations of an income statement. Prepare a single-step income statement. Prepare a multiple-step income statement. Explain how to report irregular items. Explain intraperiod tax allocation. Identify where to report earnings per share information. Prepare a retained earnings statement. Explain how to report other comprehensive income. Learning Objectives 1. On the topic, “Challenges Facing Financial Accounting,” what did the AICPA Special Committee on Financial Reporting suggest should be included in future financial statements? Non-financial Measurements (customer satisfaction indexes, backlog information, and reject rates on goods purchases). Forward-looking Information Soft Assets (a company’s know-how, market dominance, marketing setup, well-trained employees, and brand image). Timeliness (no real time financial information) Income Statement Usefulness Limitations Quality of earnings Format of the Income Statement Reporting Irregular Items Special Reporting Issues Intraperiod tax allocation Earnings per share Retained earnings statement Comprehensive income Discontinued operations Extraordinary items Unusual gains and losses Changes in accounting principles Changes in estimates Corrections of errors Income Statement and Related Information Elements Single-step Multiple-step Condensed income statements Service Cost - Actuaries compute service cost as the present value of the new benefits earned by employees during the year. Future salary levels considered in calculation. Interest on Liability - Interest accrues each year on the PBO just as it does on any discounted debt. Actual Return on Plan Assets - Increase in pension funds from interest, dividends, and realized and unrealized changes in the fair market value of the plan assets. Amortization of Unrecognized Prior Service Cost - The cost of providing .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Income statement
• Related information
• Income statement reporting
• Intraperiod tax allocation
• Financial Accounting
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Accounting for leases
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Financial reporting
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process