acct229 at Texas A&M

7. The Multistep Income Statement

in Chapter 2 (Video 7 of 12)
The single step Income Statement is what we're used to dealing with, but the Multistep Statement gives us much more visibility into the information that actually matters.

This Video Mentioned Some Formulas

– Expenses
Net Income
Gross Profit
– Operating Expenses
Total Income From Operations
– Non-Operating Expenses
Income Before Taxes
– Tax Expense
Net Income
(This is the Multi-Step Income statement)

Did I miss anything in Chapter 2?

What Did I Miss?