M1 Balance Sheet, Income Statement, and Comprehensive Income Flashcards
Full Set of Financial Statements
Statement of Financial Position (Balance Sheet)
Statement of Earnings (Income Statement)
Statement of Comprehensive Income
Statement of Cash Flows
Statement of Owners’ Equity
Treasury Stock
Purchasing your own stock
Income Statement Components
Revenues, Expenses, Gains, Losses (REGL)
Income from Continuing Operations =
Operating Income + Nonoperating Income
Single Step Income Statement
Revenue and Gains - Expenses and Losses = Pretax Income - Income Tax Expenses = Net Income
Multistep income
Includes COGS, Gross Profit, Nonoperating, and Discontinued Operations
Gross Profit Margin
Gross Profit / Sales
Operating Margin
Operating Income / Net Sales
Profit Margin
Net Income / Net Sales
Effective Tax Rate
Tax Expense / Income Before Income Tax
Earnings Before Tax (EBIT)
Total Revenues and Gains - Totals Expense and Losses
Impairment Loss
Net Realizable Value - Book Value
Net Realizable value (NRV)
Fair Value - Cost to Sell
Direct Method
Domestic price of one unit of another currency
Indirect Method
Foreign prices on one unit of the domestic currency
Comprehensive Income Graphic
