Reading and Understanding the Income Statement
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Learn how to understand and navigate your way around the Income Statement. Many people may have financial statements in front of them but they do not know what they should be looking for. The financial statements can be seen as a maze as there is so much information and people do not know where to start looking first. This topic will show people where they can find the income statement information they need and then depending on their needs (are they looking to invest in the firm, be employed by the firm, consider giving them a loan or extending them a line of credit) how to break down the income statement section by section, do comparisons, calculate ratios, and make a final decision. This topic will provide you with the tools needed to do everything mentioned above and make sound decisions for your organization.
AuthorsRonald A. Sereika, CooperVision
What Do We Find on the Income Statement?
• Where to Find Income Statement Information - SEC Website, Audited Financial Statements
• What Is the Make-up of the Income Statement and What Should One Look for to Analyze
• Discuss How to Common Size the Income Statement so It Can Be Used for Comparative Purposes
What Can We Learn From an Income Statement?
• Discuss and Explain the Important Ratios That Can Be Pulled off of the Income Statement
• Learn How to Analyze and Make up a Multi-Step Income Statement
• Understand How Accounting Choices Such as LIFO and FIFO Can Impact Your Income Statement
How Does the Income Statement Help Us in Our Decision Making Process?
• Learn to Understand Profitability, Activity and Turnover Ratios
• Learn How to Calculate Your Company's DSO and DPO
• How to Analyze a Income Statement and Then Write a Review to Present to Management