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The Income Statement, Comprehensive Income, and the Statement of Cash Flows Chapter 4 PowerPoint Authors: Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J. Rooney, Ph.D., CPA Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. 4-2 An income statement for a hypothetical manufacturing company that you can refer to as we proceed through the chapter. 4-3 Income from Continuing Operations Revenues Inflows of resources resulting from providing goods or services to customers. Expenses Outflows of resources incurred in generating revenues. Gains and Losses Increases or decreases in equity from peripheral or incidental transactions of an entity. Income Tax Expense Because of its importance and size, income tax expense is a separate item. 4-4 Operating versus Nonoperating Income Operating Income Includes revenues and expenses directly related to the principal revenue-generating activities of the company Nonoperating Income Includes certain gains and losses and revenues and expenses related to peripheral or incidental activities of the company 4-5 Earnings Quality Earnings quality refers to the ability of reported earnings to predict a company’s future earnings. Transitory Earnings versus Permanent Earnings ... - tailieumienphi.vn
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