What are the key subtotals in the income statement, and what do they convey?

What is meant by "earnings quality" and what determines it?

Why do discontinued operations require special treatment in the income statement?

How are current-period and previous-period errors handled in the income statement?

How are changes in accounting principle and changes in accounting estimate handled in the income statement?

What does earnings per share mean?

What does the cash flow statement convey? How does it contrast with the income statement as a measure of performance?

What are some high-level differences between US GAAP and IFRS in the income statement and statement of cash flows?

Answer rating: 100% (QA)

1 The multiplestep income statement presents the subtotal operating income which indicates the profit earned from the companys primary activities of buying and selling merchandise The bottom line of a ... View the full answer