Scribd
Upload
22 views1 page

Sci Formulas

The document outlines two approaches for presenting financial statements: the single-statement approach and the two-statement approach. Both methods include sections for sales, cost of sales, gross profit, operating expenses, net income before and after tax, and comprehensive income. The single-statement approach consolidates all information into one comprehensive income statement, while the two-statement approach separates the income statement and the statement of comprehensive income.

Uploaded by

frenzuaavellanoza1222
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
22 views1 page

Sci Formulas

The document outlines two approaches for presenting financial statements: the single-statement approach and the two-statement approach. Both methods include sections for sales, cost of sales, gross profit, operating expenses, net income before and after tax, and comprehensive income. The single-statement approach consolidates all information into one comprehensive income statement, while the two-statement approach separates the income statement and the statement of comprehensive income.

Uploaded by

frenzuaavellanoza1222
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 1

INCOME STATEMENT SINGLE-STATEMENT APPROACH

Sales xxx
Cost of Sales (xxx) STATEMENT OF COMPREHENSIVE INCOME
Gross Profit xxx Sales xxx
Operating Expenses (xxx) Cost of Sales (xxx)
Net Income Before Tax xxx Gross Profit xxx
Tax Expense (xxx) Operating Expenses (xxx)
Net Income After Tax xxx Net Income Before Tax xxx
Tax Expense (xxx)
Net Income After Tax xxx
Other Comprehensive Income/(Loss) xxx/(xxx)
STATEMENT OF COMPREHENSIVE INCOME Total Comprehensive Income xxx
Sales xxx
Cost of Sales (xxx)
Gross Profit xxx STATEMENT OF COMPREHENSIVE INCOME
Operating Expenses (xxx) Net Income After Tax xxx
Net Income Before Tax xxx Other Comprehensive Income/(Loss) xxx/(xxx)
Tax Expense (xxx) Total Comprehensive Income xxx
Net Income After Tax xxx
Other Comprehensive Income/(Loss) xxx/(xxx)
Total Comprehensive Income xxx

TWO-STATEMENT APPROACH

INCOME STATEMENT
Sales xxx
Cost of Sales (xxx)
Gross Profit xxx
Operating Expenses (xxx)
Net Income Before Tax xxx
Tax Expense (xxx)
Net Income After Tax xxx

You might also like