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Course Information

Course No: 142221

Course Name: Income Statement - Accounting and Reporting

Field of Study: Accounting

Course Description:

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.

Learning objectives: After completing this section, 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.

Course Material: Online Material

Program level: Basic to Intermediate

Prerequisites: Basic Accounting

Advance preparation: None

Type of delivery method: QAS Self-study

Recommended CPE credits: 4.0

Final examination expiration date: The program participant will have one year from the date of purchase to complete the course and final examination.

Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.