Explain why, under GAAP, companies are required to provide classified income statements. Why does Proctor and Gamble
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Question:
Explain why, under GAAP, companies are required to provide classified income statements.
Why does Proctor and Gamble make a distinction between operating and non-operating revenue?
Consider income statement items (net earnings from discontinued operations). These operations were discontinued in 2008, yet the financial statement shows net earnings from discontinued operations of $277 million in 2007 and 2008 and $2,143 million in 2009. Briefly explain why?
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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