Multi Step Income Statement




Multi Step Income Statement presents the results of a company’s operations for a given reporting period. Accountants in accordance with General Acceptable Accounting Principles (GAAP) prepare it. The Income Statement presents the Revenues earned and Expenses incurred by an entity during a specific time period, resultant in a figure known as Net profit or Net loss.

 

  Multi Step Income Statement Format

multi step income statement format

>>> Read Classified Balance Sheet

References

Gupta, R. L., & Radheswamy, M. (2009). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.

Jain, S. .., & Narang, K. N. (2014). Advanced Accountancy. New Delhi: Kalyani Publishers.

Maheshwari, S. N., & Maheshwari, S. K. (2009). An Introduction to Accountancy. (10th, Ed.) New Delhi: Vikas Publishing House Pvt. Ltd.

Maheshwari, S. N., & Maheshwari, S. K. (2009). Financial Accounting. (5th, Ed.) New Delhi: Vikas Publishing House Pvt. Ltd.

Maheshwari, S. N., & Maheshwari, V. L. (2009). Advanced Accountancy (Vol. I & II). New Delhi: Vikas Publishing House Pvt. Ltd.

Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.

 

0 Comments