Income Statement: Accounting and Reporting (4 hrs)

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Course Description

Income Statement: Accounting and Reporting

This course addresses income statement accounting and reporting. It discusses a variety of accounting issues surrounding income statement items and related information; the format of the income statement, major income statement categories, unusual and nonrecurring items, discontinued operations, research and development costs, deferred compensation arrangements, share-based payment, compensation expense arising under a stock option plan, insurance costs, and earnings per share (EPS) calculation.

Course information

This course is included in our MEGA CPE Unlimited Bundle

Course No. 7037
Instructional Delivery Method: QAS Self-Study
Format: Online pdf (94 pages). Printed book available.
Prerequisites: Basic accounting
Advance Preparation:None
Level: Overview
CPE Credit: 4 Hrs.
Field of Study: Accounting
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: March 2021


Course Objectives

After completing this Income Statement Accounting and Reporting course, you should be able to:

  • Identify the differences between a single-step income statement and a multiple-step income statement.
  • Recognize key items of the income statements and how they should be reported.
  • Determine the requirements for unusual or infrequent income.
  • Recognize requirements when reporting discontinued operations
  • Compute earnings per share in a simple and complex capital structures.
  • Recognize the ASC 220 requirements for comprehensive income.


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