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IS, Statement CF
Income Statement, Comprehensive Income, Statement of CF
Question | Answer |
---|---|
income statement | summarizes profit-generating activities that occurred during the reporting period |
other comprehensive income (OCI) | gains/losses excluded from income statement but included in comprehensive income |
statement of cash flows | provides info about cash receipts and disbursements of an enterprise that occurred during a period |
income from continuing operations | revenues, expenses (IT), gains, losses excluding discontinued ops and extraordinary items |
single-step IS | groups all revenue and gains together and all expenses and losses together |
multiple-step IS | includes a number of intermediate subtotals before arriving at income from continuing ops |
earnings quality | ability of reported earnings to predict a company's future earnings |
restructuring costs | costs associated with shutdown or relocation of facilities or downsizing of operations |
pro forma earnings | management's assessment of permanent earnings |
intraperiod tax allocation | allocated income tax expense with each major component of income that causes it |
extraordinary items | unusual in nature and infrequent in occurrence |
EPS | shows the amount of income earned by a company expressed on a per share basis |
comprehensive income | total change in equity for a reporting period other than from transactions with owners |
operating activities | CFs related to the transactions entering into the determination of net operating income |
investing activities | involve acquisition and sale of 1) LT assets used in the business, 2) non-operating investment assets |
financing activities | CFs involving external financing |