The Income Statement

The Income Statement

  • What is it?  Why is it  important ?
Who needs it and why?
  • What is a Fiscal Period and why is it important to stakeholders?
  •  GAAP – Time Period Concept, Matching Principle- which IFRS relates to this?
  • Additions to your Debit/Credit chart (page 132)

Additional Practice and Review:  Read 135-139 Questions 5-13 Complete Exercises 1,3 Pages 141-142

Video Resources: