LOGO 河南财政税务高等专科学校 2 Contents 收益表的编制目的 收益表的构成要素 收益表的常见格式 编制收益表 知识点复习 Chapter 16. Income Statement.

Presentation on theme: "LOGO 河南财政税务高等专科学校 2 Contents 收益表的编制目的 收益表的构成要素 收益表的常见格式 编制收益表 知识点复习 Chapter 16. Income Statement."— Presentation transcript:

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3 河南财政税务高等专科学校 2 Contents 收益表的编制目的 收益表的构成要素 收益表的常见格式 编制收益表 知识点复习 Chapter 16. Income Statement

4 河南财政税务高等专科学校 3 Accounting terms income statement Profitability operating result Sales returns and allowances cost of goods sold Gross Profit on Sales Operating Income/profit Earnings Before Interest and Tax Net income

5 河南财政税务高等专科学校 4 Accounting terminologies Accounting terminologies  merchandising company 商业公司 merchandise n. 商品，指批发商和零售商 为出售而购买的产成品。 merchandiser n. 商人，商号。 Merchandising 商品销售， 通常是指零售； merchandising business 商业企业  工业企业（制造企业） manufacturing business OR manufacturing company

6 河南财政税务高等专科学校 5 Accounting terminologies  revenue 收入， 是一个总额的概念， gross amount, 等于成本加利润。如 sales revenue, rent revenue, interest revenue  income 收益，净额的概念， 是指收入减 去成本以后的金额，对于一个企业来讲即 revenue － expense  gain 利得，是净额的概念， net amount. Gain from the disposal of fixed asset.

7 河南财政税务高等专科学校 6 Accounting terminologies net income( loss ) ：净利润（损失） =revenues － expenses + gains － losses  If ＞ 0 ＝＞ net income  If ＜ 0 ＝＞ net loss

8 河南财政税务高等专科学校 7 Accounting terminologies cost of goods sold(C.G.S): 销售成本 对于西方企业而言，工业企业普遍采用永续盘存制 （ perpetual inventory system ），商业企业普遍采用定 期盘存制（ periodic inventory system ）。本教材举例多 以商业企业为例。 在定期盘存制下 (under the periodic inventory system) cost of goods sold = beginning inventory + net purchases –ending inventory

9 河南财政税务高等专科学校 8 Accounting terminologies operating expense : 经营费用＝ selling expenses +administrative expenses sales returns and allowances: means sales returns and sales allowances 销售退回与折让 Allowance ① 备抵，准备。 如坏帐准备，减值准备等 ② 折让。 Purchases allowances,; sales allowances.

10 河南财政税务高等专科学校 9 Accounting terminologies Discount ① n. ＆ v.. 折扣 ② n. ＆ v 贴现 Sales discount: 销售折扣 ; 指现金折扣＝ cash discount Net sales = gross sales － sales returns and allowances － sales discount

11 河南财政税务高等专科学校 10 Accounting terminologies Net purchases = purchases － purchases returns and allowances － purchases discount +transportation in Gross profit on sales: 销售毛利＝ net sales － C.G.S

12 河南财政税务高等专科学校 11 You use income statement to track revenues and expenses so that you can determine the operating performance of your business over a period of time. Income Statement Income statement is designed to portray the operating results for a period of time. Back

13 河南财政税务高等专科学校 12 Income Statement An income statement is a summary of the revenue and the expenses for a specific period of time, usually a month or a year. Reports ： change in financial condition

14 河南财政税务高等专科学校 13 1.Reveal a company's profitability, determine the operating performance of your business over a period of time. 2.Find out what areas of their business are over budget （预算） or under budget. 3.Unexpected expenditures can be made clear. 4.Track dramatic （突发的） increases in product returns or cost of goods sold as a percentage of sales. 5.Determine income tax liability. What is Income Statement used for? Back

15 河南财政税务高等专科学校 14 – Inflows or other enhancements of assets or settlements of its liabilities that constitute the entity’s ongoing major or central operations. Revenues – Inflows or other enhancements of assets or settlements of its liabilities that constitute the entity’s ongoing major or central operations. Sales Fee revenue Interest revenue Dividend revenue Rent revenue Examples of Revenue Accounts Elements of the Income Statement

16 河南财政税务高等专科学校 15 – Outflows or other using-up of assets or incurrences of liabilities that constitute the entity’s ongoing major or central operations. Expenses – Outflows or other using-up of assets or incurrences of liabilities that constitute the entity’s ongoing major or central operations. Cost of goods sold Depreciation expense Interest expense Rent expense Salary expense Examples of Expense Accounts Elements of the Income Statement

17 河南财政税务高等专科学校 16 LO 1 Understand the uses and limitations of an income statement. – Increases in equity (net assets) from peripheral or incidental transactions. Gains – Increases in equity (net assets) from peripheral or incidental transactions. - Decreases in equity (net assets) from peripheral or incidental transactions. Losses - Decreases in equity (net assets) from peripheral or incidental transactions. Gains and losses can result from sale of investments or plant assets, settlement of liabilities, write-offs of assets. Elements of the Income Statement

18 河南财政税务高等专科学校 17 the formats of income statement Single-step Form Multiple-step Form Formats of Income Statement

19 河南财政税务高等专科学校 18 Single-step form （单步式利润表） ---It gathers all the revenue together, then deducts all the expenses from the revenue to get net income.

20 河南财政税务高等专科学校 19 Single-Step Format The single-step statement consists of just two groupings: RevenuesExpenses Net Income Single- Step No distinction between Operating and Non-operating categories.

21 河南财政税务高等专科学校 20 Single-Step Format Prepare an income statement from the data below.

22 河南财政税务高等专科学校 21 The single-step income statement emphasizes a. the gross profit figure. a. the gross profit figure. b. total revenues and total expenses. b. total revenues and total expenses. c. extraordinary items more than it is emphasized in the multiple-step income statement. c. extraordinary items more than it is emphasized in the multiple-step income statement. d. the various components of income from continuing operations. d. the various components of income from continuing operations. Review Single-Step Format

23 河南财政税务高等专科学校 22  Multiple-step form （多步式利润表） ---It presents gross profits, operating income （营业收入）, operating income before taxes （税前收益）, and net income （净收入）. In the Multiple-step Form, the content of Income Statement is divided into some items, which generating some interim （中 间的） information and the net incomes can be computed through several steps.

24 河南财政税务高等专科学校 23 Separates operating transactions from nonoperating transactions. Matches costs and expenses with related revenues. Highlights certain intermediate components of income that analysts use. Multiple-Step Format Background

25 河南财政税务高等专科学校 24 1.Operating section 2.Nonoperating section 3.Income tax 4.Discontinued operations 5.Extraordinary items 6.Earnings per share Multiple-Step Format Income Statement Sections

26 河南财政税务高等专科学校 25 Multiple-Step Format The presentation divides information into major sections. 1. Operating Section 2. Nonoperating Section 3. Income tax

27 河南财政税务高等专科学校 26 Net Sales 销货净额 Sales Discounts 销货折扣 Revenue Section Gross Sales 销货总额 Sales Returns and Allowances 销货退 回及折让

28 河南财政税务高等专科学校 27 Revenue Section Net purchases 购货净额 Ending Inventory 期末存货 cost of goods sold 销 货成本 = purchases amount - purchases returns, allowances, discounts + transportation in Beginning Inventory 期初存货

29 河南财政税务高等专科学校 28 Different Treatment Between Transportation in and out Transportation In 购货运费 （ cost of goods sold 购货成本） Transportation In 购货运费 （ cost of goods sold 购货成本） Transportation Out 销货运费 (selling expense 销货费用 ) Transportation Out 销货运费 (selling expense 销货费用 )

30 河南财政税务高等专科学校 29 Net sales – Cost of Goods Sold = Gross Profit ( 销货成本 ) ( 销货毛利 ) By deducting the cost of goods sold from the net sales, we arrive at an intermediate （中间的，居间的） amount called gross profit on sales. Revenue Section Gross Profit – Operating Expenses =Net Income （营业费用 ） （净收益） Gross Profit – Operating Expenses =Net Income （营业费用 ） （净收益）

31 河南财政税务高等专科学校 30 How to calculate net income 净收益  Net Sales - Cost of Goods Sold = Gross Profit;  Gross Profit - Operating Expenses = Operating Income; Operating Income ± Non-Operating Items = EBT (Earnings Before Tax 税前收入 ); EBT - Income Tax = Net Income. Operating Income ± Non-Operating Items = EBT (Earnings Before Tax 税前收入 ); EBT - Income Tax = Net Income.

32 河南财政税务高等专科学校 31 The operating expenses of a merchandising business are typically classified into selling and administrative expenses. Cost incurred to sell (e.g., advertising, salesperson commission) Distribute (e.g. Freight out,) merchandise Headquarters office expenses Accounting Expenses Selling Expenses 销售费用 Administrative Expenses. 管 理费用 Operating Expenses 营业费用

33 河南财政税务高等专科学校 32 Some business items affecting the determination of a final net income amount may not relate to the primary operating activity of the business. Interest income ( 利息收益 ) and interest expense （利息费用）, for example, may be viewed as relating more to （与 … 有关） financing and investing activities than to merchandising efforts Financial Income and Expense 财务收益及费用

34 河南财政税务高等专科学校 33 Extraordinary Items 非常项目  Gains or losses that are both unusual in nature and not expected to recur 再 发生 in the foreseeable 可预见的 future.

35 河南财政税务高等专科学校 34 Sales Returns and Allowances  Sales - = Net Sales - Cost of Goods Sold Gross Profit on Sales = Operating Expenses - = Net Income Operating Income Other Revenues and Gains + Other Expenses and Losses - = Multiple-step Form

36 河南财政税务高等专科学校 35 Net Sales Cost of Goods Sold Gross Profit = Multiple-step Form - General Operating Expenses - Income from operations =

37 河南财政税务高等专科学校 36 Extraordinary Income Multiple-step Form Earnings Before Interest and Tax (EBIT) = Income from operations + Other Income +

38 河南财政税务高等专科学校 37 Interest Expense Taxes - Multiple-step Form Net Profit After Taxes (NPAT) = Earnings Before Interest and Tax (EBIT) - Dividends Retained Earnings = -

39 河南财政税务高等专科学校 38 Multiple-Step Format Prepare an income statement from the data below.

40 河南财政税务高等专科学校 39 Review A separation of operating and non operating activities of a company exists in a. both a multiple-step and single-step income statement. a. both a multiple-step and single-step income statement. b. a multiple-step but not a single-step income statement. b. a multiple-step but not a single-step income statement. c. a single-step but not a multiple-step income statement. c. a single-step but not a multiple-step income statement. d. neither a single-step nor a multiple-step income statement. d. neither a single-step nor a multiple-step income statement. Multiple-Step Format

41 河南财政税务高等专科学校 40 How to Prepare Income Statement Heading Title Formulae Method

42 河南财政税务高等专科学校 41  profit and loss statement  earnings statement  statement of operations Title

43 河南财政税务高等专科学校 42 Heading  the name of the business  the name of the financial statement “Income Statement”  the period involved  measuring unit employed

44 河南财政税务高等专科学校 43 Net Earnings Gross Profit on Sales Operating Income EBIT Retained Earnings = Net Sales - Cost of Goods Sold =Gross profit - General Operating Expenses - Depreciation Expense =Operating Income +(-) Other Income (Loss) +(-) Extraordinary Income (Loss) = Earnings Before Interest and Taxes - Interest Expense - Income Taxes = Net Earnings -Dividends Formulae

45 河南财政税务高等专科学校 44 XYZ COMPANY Income Statement For The Year Ended December 31, 2002 Revenue The proceeds that come from sales to customers. Fill in the sheet upon the analysis of the amount occurred on the credit side of Sales ledger - Cost of Goods Sold An expense that reflects the cost of the product or good that generates revenue. Fill in the sheet upon the analysis of the amount occurred on the debt side of Cost of Goods Sold ledger = Gross profit Also called Gross Margin, this is revenue minus Cost of Goods Sold -Operating Expenses Any expense that doesn't fit under Cost of Goods Sold. Fill in the sheet upon the analysis of the amount occurred on the debt side of such as administration, marketing expenses ledger and so on Method

46 河南财政税务高等专科学校 45 =Net Income before Interest and Tax Net income before taking interest and income tax expenses into account - Interest Expense The payments made on the company's outstanding debt. Fill in the sheet upon the analysis of the amount occurred on the debt side of Interest Expense ledger - Income Tax Expense The amount payable to the federal and state governments. Fill in the sheet upon the analysis of the amount occurred on the debt side of Interest Expense ledger = Net Income The final profit after deducting all expenses from revenue Method

47 河南财政税务高等专科学校 46 1. Income Statement is a summary of a company’ s profit or loss during any one given period of time. 1. Income Statement is a summary of a company’ s profit or loss during any one given period of time. 3. Income statement is prepared according to the amounts occurred on revenues and expenses ledger (accumulated amounts are included). 3. Income statement is prepared according to the amounts occurred on revenues and expenses ledger (accumulated amounts are included). 2. The income statement traditionally has been prepared in either single-step form or multiple-step form. 2. The income statement traditionally has been prepared in either single-step form or multiple-step form. Brief Summary

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