Income Statement Module

Module Objectives:

1. Define Terms
   • List and describe the line items of an income statement
2. Accounting Systems
   • Identify the differences between cash and accrual accounting
3. Revenue and Expense Recognition
   • Define the criteria for revenue and expense recognition
4. GAAP Measures
   • Define and calculate GAAP income statement measures
5. Non-GAAP Measures
   • Define and calculate key non-GAAP income statement measures
6. Taxation and Net Income
   • Explain taxation’s impact on net income through effective and marginal tax rates