acg2021 at Florida International University

15. The Multistep Income Statement

in Chapter 1 (Video 15 of 16)
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The single step Income Statement is what we're used to dealing with, but the Multistep Statement gives us much more visibility into the information that actually matters.

This Video Mentioned Some Formulas

Revenues
– Expenses
Net Income
Sales
– COGS
Gross Profit
– Operating Expenses
Total Income From Operations
– Non-Operating Expenses
Income Before Taxes
– Tax Expense
Net Income
(This is the Multi-Step Income statement)

The Rest Of The Videos

1 The Accounting Equation 3:02
2 Assets vs Liabilities 5:32
3 Shareholder's Equity 5:26
4 The Balance Sheet 5:52
5 The Statement of Retained Earnings 5:51
6 The Income Statement 6:19
7 The Statement of Cash Flows 6:02
8 How the Statements Work Together 9:02
9 Current Assets 9:57
10 Non-Current Assets 10:25
11 Current Liabilities 6:24
12 Non-Current Liabilites 2:00
13 Contributed Capital 5:10
14 The Classified Balance Sheet 4:48
15 The Multistep Income Statement
You are here. 		12:44
16 Retained Earnings vs Shareholder's Equity 6:41
Chapter 2 →

Chapter 1 Practice Problems

Click Here to View All Chapter 1 Problems at Once View
1 Current Assets Easy
2 Matching Basic Vocabulary Easy
3 Retained Earnings Easy
4 Account Classifications Moderate
5 Solving for Missing Amounts Moderate
6 Solving for Net Income Moderate
7 Tying the Statements Together Moderate
8 Account Classifications Hard
9 Calculating Operating Income Hard
10 Solving for Retained Earnings Hard

Did I miss anything in Chapter 1?

What Did I Miss?