Statement of financial position

Cards (2)

  • What is the format of the Income statement :
    sales
    Cost of goods sold
    gross profit
    operating expenses
    rent, electricity
    other SG&A expense
    operating income
    interest, gains and losses
    pre tax income
    income tax expense
    net income
  • what accounting conventions are in the income statement?
    accruals
    matching
    prudence