Illustrations of income statement, Financial Accounting

Illustrations of Income statement

  • Profit/Loss on disposal of non-current assets
  • Material write down or reversal of write down on assets e.g. PPE inventory and debtors.
  • Restructuring and re-organization cost e.g. redundancy payments
  • Litigation costs – payments made as a result of court decisions

 

The format of the income statement is given as follows:

ABC LTD

INCOME STATEMENT FOR THE YEAR ENDED 31/12/

 

£

£

Revenue

 

x

Cost of sales

 

(x)

Gross profit

 

x

Other incomes (e.g. investment income)

 

x

 

 

x

Expenses

 

 

Distribution costs

x

 

Administration costs

x

 

Other expenses

x

 

Finance costs

x

(x)

Profit before

 

x

Income tax expense

 

(x)

Profit for the period

 

xx

 

 

 

 

 

 

 

 

 

a)      By Nature

 

 

 

 

 

ABC LTD

INCOME STATEMENT FOR THE YEAR ENDED 31/12/

 

£

£

Revenue

 

x

Other incomes

 

x

 

 

x

Expenses

 

 

Raw materials consumed

x

 

Changes in finished goods and work in progress

x

 

Depreciation and armortisation

x

 

Employee benefits

x

 

Other expenses

x

 

Finance costs

x

(x)

Profit before tax

 

x

Income tax expenses

 

(x)

Profit for the period

 

xx


Posted Date: 12/12/2012 12:00:21 AM | Location : United States







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