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    Nasirraj1's Avatar
    Nasirraj1 Posts: 1, Reputation: 1
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    #1

    Jan 25, 2010, 09:19 AM
    Income statement
    How to prepare income statement
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jan 26, 2010, 06:52 PM

    It all depends on what stuff you've got involved, what kind of company it is, and what level you are at. The gist of an income statement is revenues and expenses, the difference of which makes net income. But it's always difficult when people ask this so vaguely when we don't know how far along you are or what is involved.

    Here are just some examples:
    Principles of Accounting Chapter 4
    (Scroll down a bit.)
    Principles of Accounting Chapter 5
    Single-Step Income Statement | AccountingCoach.com
    Multiple-Step Income Statement | AccountingCoach.com

    There should be examples in your book, which will give you a much better idea of what you are expected to be doing at whatever level/topic area you are at.

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