TAILIEUCHUNG - Lecture Financial accounting in an economic context (9th edition): Chapter 13 – Jamie Pratt

Chapter 13 - The complete income statement. In this chapter students will be able to: Briefly describe how net income is used and why it is considered so important, define and distinguish ten key concepts referred to as the elements of the financial statements. | Chapter 13: The Complete Income Statement 2 2 The Economic Consequences Associated with Income Measurement and Disclosure Income is the most common measure of a company’s performance. A measure of a change in value As compared to equity, which measures the level of value (or wealth) It is NOT net cash flow It is a measure of performance There are different income measures which relate to different objectives (GAAP provides for various measures to be presented) 3 3 The Measurement of Income: Different Measures for Different Objectives 4 According to Statement of Financial Accounting Concepts No. 1 Objectives of financial reporting are (paraphrased) to provide information that is: Useful to those making investment and credit decisions Helpful in assessing amounts, timing and uncertainty of future cash flows About economic resources, claims and changes to The Measurement of Income: Different Measures for Different Objectives (cont’d) 5 Figure 13-1 (partial) Elements of the financial statements The Measurement of Income: Different Measures for Different Objectives (cont’d) 6 Figure 13-1 (partial) Elements of the financial statements The Measurement of Income: Different Measures for Different Objectives (cont’d) 7 Figure 13-1 (partial) Elements of the financial statements The Measurement of Income: Different Measures for Different Objectives (cont’d) Comprehensive income - changes in net assets from all non-owner sources; is broken into two categories: Net Income: consisting of revenues, expenses, gains and losses (next slide) Other Comprehensive Income 8 Campbell’s Soup 2012 statement of Shareholders’ Equity 8 9 Operating Section Sales Revenue less: Cost of Goods Sold less: Selling Expenses less: Administrative Expenses 1 2 Non-Operating Section Add: Other Revenues and Gains Less: Other Expenses and Losses Income Tax 3 Irregular Items 4 Discontinued Operations (net of tax) Extraordinary Items (net of tax) Net Income 5 Earnings per Share 6 The Income Statement 9 Two .

• Kế toán - Kiểm toán
• Complete income statement
• Classifying operating transactions
• Financial accounting
• Lecture Financial accounting
• Kế toán tài chính
• Financial statements
• In an economic context
• Long lived assets
• Economic consequences
• The complete income statement
• The statement of cash flows
• Classifying operating transactions
• Working with Financial Statements
• Statements Cash Flow
• Standardized Financial Statements
• The DuPont Identity
• Using Financial Statement Information
• Principle of accounting
• Lecture Principle of accounting
• The basic financial statements
• Statements of financial position
• Statements of comprehensive income
• Lecture Accounting 1
• Preparation financial statements
• Balancing ledger account
• Financial system
• Lecture Accounting and financial system
• Interpretation of financial statements
• Financial records
• Government grants
• Personal financial planning
• Personal financial
• Lecture Personal financial planning
• Financial planning
• Financial statements analysis
• Principles of financial accounting
• Accounting information
• Analysis of financial statements
• Trend analysis
• Independent external auditor
• Financial statements’ preparers
• Financial statements’ users
• Users of financial statements in Saudi Arabia
• Substantial audit expectation
• Summary of PhD thesis
• Thesis summary of Doctor of Accounting
• Auditing of financial statements
• Auditing time of financial statements
• Accounting in practice
• Lecture Accounting in practice
• Statement of cash flow
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Horizontal analysis
• Audited financial statements
• Group financial statements
• Auditing services
• Assurance services
• Contemporary auditing environment
• Financial statement audit
• Financial statements statements
• The accounting information system
• Accrual accounting concepts
• Analyzing inventory
• The factors affect
• The quality of financial statements audit
• Vietnam businesses
• Especially the financial markets
• Financial statements audit in enterprises
• financial services
• financial ratios
• corporate governance
• financial management
• financial environment markets
• Business entity
• Accounting equation
• Financial statement articulation
• Accounting activities
• Business firms
• The financial reporting reform
• Fundamentals of financial management
• Financial statement
• Quản lý tài chính
• Ratio analysis
• Financial Reporting
• Framework of financial reporting
• Lecture Framework of financial reporting
• Regulatory system
• Financial statements comprises