accy201 at Ole Miss

8. The Multistep Income Statement

in Chapter 4 (Video 8 of 10)
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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 COGS and Inventory 2:57
2 Net Sales 10:03
3 Perpetual vs Periodic 7:10
4 Drawbacks to Periodic 6:07
5 FOB Shipping? 8:51
6 Transportation In 8:41
7 COGS 6:18
8 The Multistep Income Statement
You are here. 		12:44
9 Gross Profit vs Net Profit 6:15
10 Profit Margin 3:22
Chapter 5 →

Chapter 4 Practice Problems

Click Here to View All Chapter 4 Problems at Once View
1 Consignment Inventory Easy
2 FOB Destination Easy
3 Inventory Set Aside Easy
4 FOB Shipping Moderate
5 FOB Shipping Moderate
6 Calculating Operating Income Hard
7 The Effect of Inventory Errors Hard
← Chapter 3

Did I miss anything in Chapter 4?

What Did I Miss?