PRE: Components and Format of an Income Statement


This lesson is a prerequisite for the course. While you won’t be directly tested on its content in the exam, it’s assumed you’ve gained this knowledge or skill during your university studies. We strongly recommend reviewing this lesson, as its content may be essential for understanding subsequent parts of the curriculum.

Terms covered: Income statement, Revenue, Expenses, Net income, Comprehensive income, Other income, Minority interest, Single-step income statement, Multi-step income statement